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Rising house prices is a common phenomenon in many countries

Spanish economy 10th January 2023

Timid 0,5% rise in house prices in 2023 expected in Spain, lower than 2022 6% increase

Norbolsa | According to a panel of experts in the sector, in 2023 it is expected that, house prices will advance, albeit timidly, by around 0.5%, compared to last year’s 6%. Sales, meanwhile, after an impressive 2022 (650,000 operations, levels not seen since 2007), will fall by 14%, to 557,000. The housing market has to face higher interest rates, economic slowdown, higher construction costs and a weaker labour market, but…

Puerta del Sol Square, Madrid, Spain

Spanish economy 9th January 2023

Incomes in Spain the lowest in Europe since 2019: down from €25,180 to €23,450

Spaniards are falling behind the standard of living of the rest of the European economies: they have lost the most wealth per person – €1,700- since 2019, according to data available until 2021, and already occupy the 18th place in the continental standard of living ranking. If in 2018 Spain stood at 91.2% of the EU average gross national income per capita, by in 2021 this had dropped to 83.4%,…

closing companies

Spanish economy 9th January 2023

Small businesses bleeding to death in Spain: 45,000 fewer since pandemic

In 2019, the number of retail businesses in Spain was around 460,000. By 2021, that figure had fallen to less than 428,000 businesses. In other words, some 32,000 businesses had fallen by the wayside, a figure that increased by a further 13,000 retail businesses lost in 2022, meaning that some 45,000 businesses would have been lost since the year before the pandemic, according to UPTA data. The rise of e-commerce,…

Telefonica pantalla

Spanish economy 8th January 2023

Telefónica accelerates closure of its copper network scheduled for 2024

Bankinter| Telefónica will close 5,800 exchanges that serve landlines and broadband via ADSL between 2023 and 2024, and will replace them with fibre optic exchanges. After the process, Telefónica (TEF) will have ~3,000 fibre-optic exchanges that will replace the ~8,000 that made up the copper network. Opinion of Bankinter’s analysis team: The programme, although planned, accelerates the cost savings and efficiency gains of running a single, more robust fibre network….

overfishing

Spanish economy 5th January 2023

Spain: Meat and fish consumption plummets by almost 15% as prices rise sharply

Nothing like this has ever happened before since statistical data has been available. The sharp rise in food prices has caused an unprecedented drop in food consumption in Spain. Between November 2021 and the same month last year, sales fell by 8.8% in volume and by up to 2.5% in value. But, asks the daily El Economista, are the Spanish really eating less as a result of inflation? According to…

Spain tourism

Spanish economy 5th January 2023

Spain receives 67.4 million tourists up to November with spending exceeding 81.8 billion euros

Between January and November of last year, Spain received more than 67.4 million international visitors, with their spending exceeding 81 billion, the National Statistics Institute (INE) confirmed yesterday. This is a good figure when compared with the same period last year, when 28.2 million foreign tourists were received. However, if it is compared with the same period in 2019, before the coronavirus paralysed the world, the figure is somewhat less…

elecnor eolica

Spanish economy 4th January 2023

Spain: Electricity demand down 6.7% in December

Spanish electricity demand fell by 6.7% in December compared to the same month of the previous year and after discounting the effects of temperature and working hours. In gross terms, demand is estimated at 20,437 GWh, 7.2% lower than in December 2021. Generation from renewable energy sources accounted for 45.1% of the mix in December. In December, wind energy was the main generation technology in our country. Its production accounted…

US unemployment

Spanish economy 4th January 2023

Workers on fixed discontinuous contracts: the unemployed counted as employed by the government

Being on a fixed discontinuous contract means a worker has a recurrent seasonal job and therefore works and is registered with the Social Security during the periods when the employer needs him and he is actually working; while in the periods when he is not registered, he can work somewhere else on another contract, or be collecting unemployment benefits… or neither of the two. The only thing that is clear…

Ferrovial

Companies, Spanish economy 4th January 2023

Ferrovial to build data centre for Microsoft in Madrid

Intermoney | Ferrovial  are to build a new data centre for Microsoft in San Sebastián de los Reyes (Madrid), according to the business and finance daily, Cinco Días. Although the amount of the investment has not been disclosed, the newspaper’s sources put it at “hundreds of millions”… Microsoft plans to invest up to 12 billion euros in 17 data centres in Europe; in this way, the company would comply with…

cie automotive

Spanish economy 3rd January 2023

Car sales in Spain down 5.4% to 814,000 units in 2022, Toyota overtakes Seat as best-selling brand

In December, car sales in Spain reached a volume of 73,927 units, which represents a significant decline of 14.1% compared to the last month of last year. For the year as a whole, 814,000 cars were sold in Spain, 5.4% less than in 2021. “In this third consecutive negative year, in which some 400,000 fewer units have been registered than before the pandemic, the lack of supply has taken its…