CaixaBank Research has devoted its second Sector Report to Spain's real estate industry, a sector that is consolidating its latest expansionary cycle quarter by quarter.
Over 500,000 homes were sold in 2018 and strong growth has been seen in construction, albeit still at a relatively low level due to the severity of the crisis.
The trend in market prices is clearly upward in spite of marked geographical differences, with the largest increases occurring in the major metropolitan areas and tourist destinations. However, an analysis based on big data has also shown that the sector's recovery is now moving out towards the areas around these large cities and tourist resorts.
Over the coming months, we expect growth to continue in the real estate sector, both due to the Spanish economy's strong performance and also the industry's own good health. Nevertheless, the sector still faces the challenge of improving its productivity and ensuring new technologies are widely adopted, since these offer huge advantages and have the potential to revolutionise the sector's value chain.