The Eco10 Bets On Value And Opens Up To Renewables

The current renovation of the Eco10 portfolio , the index of quality ideas prepared by elEconomista.es with the collaboration of 50 analysis houses and calculated by Stoxx, is historic. Never before since the creation of the index on June 16, 2006 had there been five changes in the same review, that is, half of the selective. Thus, Solaria, Cellnex Telecom, CaixaBank, Acciona and BBVA will replace Banco Sabadell, Santander, ACS, CIE Automotive and IAG from September 16 at the end of the session, the day on which the new additions will become effective.

This changing of the guard is not accidental if the current market context is taken into account, where the cocktail of inflation, energy crisis and recession drums has led the orange indicator to drop close to 14% in the year, with closing data of August. Despite this setback, the Eco10 is 33 points higher than the Ibex 35 since its inception.

One factor that stands out in the composition of the new portfolio is the increase seen in the confidence of fifty analysts and managers who build the indicator on the Ibex 35 blue chips – with the exception of Santander, which is left out. Thus, Repsol, Inditex and Iberdrola are the three main positions after their weight has increased in all of them compared to the June review. In the specific case of the oil company, it has been the preferred value of the experts since September of last year.

Another feature of the new portfolio is the incorporation of the renewable bias –after the departure of Siemens Gamesa in December 2018– with the debut of Solaria in a context of crisis due to gas prices and energy transition and without forgetting that Acciona Energía is has been at the gates of debuting in the indicator. The one that does return is its parent company, Acciona, for the first time since its expulsion in March 2010.

In this way, the current composition of the selective is made up –following the weighting, from highest to lowest, given by the experts– by the following ten firms: Repsol, Inditex, Iberdrola, Grifols, Telefónica, Solaria, Cellnex, CaixaBank, Acciona and BBVA. However, within the portfolio their weight is evenly weighted, with 10% for each of them.

In general terms, the current portfolio offers an average upward potential of 34.4% for the coming months, compared to 32% for the Ibex 35, and a dividend yield of 4%. Of course, it is bought at a demanding multiplier, since it has a PER (number of times the profit is included in the share price) of 15 times, compared to the 10.4 times estimated for the Ibex 35. This This is mainly due to the inclusion of companies such as Acciona (22 times), Grifols (19.5 times), Inditex (17 times) and Iberdrola (16 times).

Six of the ten members have a buy recommendation from the FactSet consensus, while Acciona and Telefónica receive a hold and Solaria – one of the most bullish stocks so far this year, with more than 20% – charges with a sales tip.

Solaria
In a complicated context for energy companies and with the European Union looking for ways to limit the impact of the high price of gas that households must assume, the solar company has recorded around 22% since January. “This vertiginous rise began after the outbreak of the war, where investors began to discount the need to invest in renewable energies so as not to depend on other countries in the future and achieve greater price stabilization,” they point out from XTB.

With this argument, CM Capital Markets has decided to keep the firm for another quarter in its portfolio. “Solaria should be favored by empowerment through a more favorable regulation of clean energy (solar) compared to fossil fuels, which are more polluting and affected by the war between Russia and Ukraine ,” says Jorge Lage, an analyst at the entity.

Not surprisingly, experts still give it a range of up to 21.41 euros per share. On the other hand, profit estimates reflect a growth of 38% for the 2022/2024 period. For this year alone, analysts have improved their forecast by 31% compared to what they expected at the beginning of January, and 23% for 2023.

drive
Acciona has had to wait for more than a decade to become part of Eco10 again. Although in recent years the company’s action was penalized by the aspect of a family holding company that its holdings in businesses that are not related to energy gave it, the decision to take its renewables division public has catapulted the market not only to the subsidiary, but to the parent company itself, which adds up to nearly 20% in the year.

With its latest results, Acciona exceeded consensus forecasts for ebitda (gross profit) by 5%. “In addition to the improvement in the renewables division, construction activities also performed better than expected,” Barclays experts recall.

“Acciona’s history continues to be supported by a solid growth plan in renewables, an infrastructure portfolio at all-time highs and positive commercial activity in the real estate division,” highlights Aránzazu Bueno, an analyst at Bankinter.

Analysts still trust that its share will advance 5% more to 206.86 euros where they place its fair price.

Cellnex
The manager of telecommunications towers is an old acquaintance of the index and returns with the best recommendation of the entire Ibex 35 (see page 19). Her return coincides with her titles, noting losses close to 30% (she is one of the most bearish of the year) and falling 20 points from the European telecommunications sector. In this way, the firm can advance from current prices more than 67%, to 62.12 euros, in which the consensus sees it trading. Twelve investment banks see it above these levels, with target prices between 64 and 87 euros, with Insight Investment Research, Bestinver Securities and Berenberg as the most optimistic about its future performance. “Although the company’s attractive fundamentals now seem well appreciated,

With its latest accounts presented at the end of July, the teleco confirmed its outlook for the 2022 financial year with an EBITDA (gross profit) that would be between 2,650 and 2,700 million and in line with the FactSet? forecast of 2,671 million after have lowered it slightly, by 0.3%, compared to what was expected at the beginning of January. Of course, for 2023 and 2024, it places it at around 3,000 million euros.

BBVA and CaixaBank
The analysts and managers who help prepare the Eco10 portfolio have wanted to rotate exposure to the banking sector, dispensing with Santander and Sabadell and betting on two other titles for the autumn: CaixaBank, clearly the entity that has benefited the most from the rise in interest rates accelerates in the eurozone due to the high weight in its mortgage credit portfolio, and by BBVA, heavily penalized in recent months for its exposure to Turkey through Garanti.

“The sector should benefit from the rise in interest rates and the improvement in margins, although the increase in defaults and the economic downturn will also have a negative effect,” points out Jorge Lage, from CM Capital Markets. The already discounted rebound in defaults in the face of the escalation in prices that will affect mortgage holders and companies is the downside of the rate hike that is trying to chase down inflation. This same Thursday Christine Lagarde, president of the ECB, announced the largest increase in the history of the institution, of 75 basic points, and takes the official price of money in the euro zone to rates of 1.25%, levels not seen since 2011 .

CaixaBank has declared the greatest sensitivity on the interest margin. For each increase of 100 basic points, the entity calculates an improvement of 20% to 25% on this item of income. This represents some 1,700 million euros more interest margin. BBVA is the second that, in volume, will see its margin improve the most, above 700 million, with a declared sensitivity of between 15% and 20%.

So far this year, CaixaBank has once again become the most bullish value on the Ibex, with gains of more than 40%, thanks to the rise of more than 12% recorded in the last two sessions after the message much more Lagarde’s hawkish in which he anticipated more rises between now and the end of the year. Its PER stands at 8.3 times for 2023 and has an upward potential of 22% to 3.8 euros.

In the case of BBVA, it is no longer the most punished entity of the year (since it yields to Santander), with a fall of 8%. Its PER, at minimum, is around 5 times.

Spanish Food Becomes More Expensive Than The Large European Countries

Spain has gone from having the lowest shopping basket prices among the large European economies to being placed in leading positions. According to the Harmonized Consumer Price Index for Food (IPCA), prepared by Eurostat and which measures the evolution of prices taking into account the purchasing power of citizens on a 100-point basis, the Spanish market has reached a level of 124.13 points.

This represents a growth of almost 14% compared to the 109.63 it marked a year ago, when it was behind almost all the large economies in Europe. The shopping basket has thus become more expensive in Spain not only above the rest of the large European countries but also above the average, which has risen by 12.6%, to 125.2 points.

However, the rise in energy costs, raw materials and transport, among others, have triggered food inflation in Spain, causing distribution prices to now be above countries such as the Netherlands (124.09 ), Denmark (122.9), Portugal (121.4), Belgium (118.99), France (116.88), Italy (116.2) or Greece (115.89) , among others.

Spain is now slightly below Germany, whose ICPA has risen to 120.1, although it is below the European average, which has been set at 125.2 points. Above the European average have been traditionally cheaper countries, but which have now suffered the sharp rise in prices, such as Hungary , with an ICPA of 160.53; Lithuania with 148.3; Bulgaria with 145.82 or Latvia, with 144.1.

competitiveness
Despite the sharp rise in food prices, Spanish food distribution continues to be one of the most competitive in all of Europe. The existence of multiple factors in the business means that it is not a highly profitable market and where the only alternative is to opt for aggressive cost reduction policies to increase market share and margins, something impossible in the midst of this wave of growth of prices.

According to the calculations made by elEconomista.es with data from the Mercantile Registry, the average profitability of the main Spanish supermarkets in 2021 was 3.03%. Furthermore, if the distribution margins between 2021 and 2020 are compared, it can be seen that the main Spanish supermarkets have lost profitability, except for Carrefour. In this way, the French chain went from 3.71% in 2020 to 4.6%.

Carrefour, the most profitable
Focusing on the data for 2021, Mercadona closed the year with sales of 27,819 million and a net profit of 680 million euros , which means that it had profit margins of 2.4%.

The Valencian chain is the leader in Spanish distribution with more than 25% of the market, according to the latest data from KantarWorlpannel. However, it failed to outperform Carrefour’s 4.6% return, even though this chain’s sales and profits were lower. Thus, Carrefour closed the previous year with sales of 8,241 million and profits after taxes of 382.7 million euros. On the other hand, Lild obtained a net profit of 150.8 million euros with a turnover of 4,825 million. This is equivalent to a distribution margin of 3.1%. Eroski had a return of 2.05% in 2021 thanks to profits of 105 million euros and a sales volume of 5,116 million.

In the case of the Día supermarket chain during 2021 there is no profitability as a result of its losses, which amounted to 257.3 million euros, which despite everything represents a decrease of 29.3% compared to the previous year. In Alcampo, the latest data published in the Registry is from 2020, when it achieved a net profit of 112 million euros and sales of 3,321 million, which established its profit margin at 3.3%.

The Circular Economy, Solution And Opportunity

The Spanish economy faces an immediate future marked by the pressing need to combat the threats posed to growth by the effects of the pandemic and the invasion of Ukraine, materialized in runaway inflation and tensions in supply chains that aggravate our structural problems and endanger the competitiveness of goods and services.

Boosting the economy, before the most pessimistic predictions come true, requires increasing competitiveness , in a favorable, predictable and stable regulatory framework that allows companies – and especially small and medium-sized ones – to operate, invest and promote excellence , innovation and sustainability and address the threats of climate change and efficiency in the use of resources.

In a transversal way, to achieve this sustainable and efficient economy in the use of resources, the extension of the principles of the Circular Economy , which, in the Industry, has been its most developed way of doing things, must be part and not a minor part of the solution.

The Circular Economy strategy is the core of industrial activity and its reason for being. The Industry has always sought the maximum use of resources , turning waste into valuable raw materials to be reintegrated into the production cycle of new goods and services. The very concept of waste was reconverted in industrial activity into secondary raw material to be one more link in the product life cycle chain.

The “Seven Rs” of the Circular Economy: Redesign products to improve their useful life; Reduce direct consumption; Reuse to prolong the life of products; Renew the use of old objects to overcome their obsolescence; Repair instead of scrap; Recycle; and Recovering used materials for the production of new products, are part of the “commandments” of industrial activity and can be included in a single “R”: Rationalize the production and consumption of goods and services.

The Circular Economy has allowed the Industry to reduce the consumption of energy and raw materials and the impact of its activity on the environment, eliminating discharges, noise, occupation of space and emissions. In other words, it has made it more productive and competitive, more efficient and more sustainable in the use of resources.

At a time of scarcity of energy and raw materials, the Circular Economy can be favored by the application of new information and communication technologies, and by the extension of environmental education.

The Circular Economy, on its way to generating smart, sustainable and inclusive growth, is a decisive factor in driving innovation and qualification and generating new opportunities for economic growth.

Investing in it, promoting it, not only allows reducing waste, consumption and environmental impacts. It also generates employment in the management and recovery of waste and in the development and production of equipment and systems to ensure efficiency and use of resources. The very redesign of products and processes for reuse is a niche of activity and employment.

In a scenario of scarcity and fluctuation in energy prices and raw materials, the Circular Economy contributes to guaranteeing the security of the supply of essential resources, reducing their costs and better managing flows.

From the point of view of industrial companies, the Circular Economy represents an opportunity in terms of production, but also to bring to other sectors of activity the industrial know-how in the transformation, processing, manufacturing and obsolete products that, for Industry, have always been valuable resources.

But, for waste to become secondary raw materials and enter the production chain again, it requires globally accepted standards and specifications that regulate the activity and homogeneity of criteria to prevent this area from being another example of a breakdown of unity market in Spain.

An intelligent Circular Economy policy must be committed to creating markets and defining quality standards for secondary raw materials, and avoiding uncertainties, lack of definition and unnecessary burdens that harm their competitiveness, without compromising the safety and quality of products and services.

The regulation of the Circular Economy cannot be unmanageable for the market players and for the administrations in charge of ensuring its compliance, because this would put the activity itself at risk and discourage innovation and investment in the Circular Economy.

Punishing the development of the Circular Economy with obstacles, taxes and fees goes against the environment, progress and almost against history. But also against the opportunity that its application represents for activity and employment.

Inflation And Public Spending

Inflation has been with us for months now , including the US and the more developed economies of the EU, and inflation is scary, and not just for those who live on their salaries. The words of Jerome Powell, Chairman of the US Federal Reserve prove it:

“Reducing inflation is likely to require a sustained period of below-trend growth. In addition, weakening labor market conditions are very likely. Higher interest rates, slower growth and weaker market conditions ” Weaker labor markets will reduce inflation, but they will also cause some pain for households and businesses. These are the unfortunate costs of reducing inflation. But if price stability is not restored, the pain will be much greater.”

Not so long ago that some analysts said that inflation would be transitory and that in a few months it would be overcome. Well, these well-intentioned prophets have made a resounding mistake and that is why the entire West is preparing to fight inflation, and the formulas for that fight are as well known as they are unpleasant: lower public spending, raise interest rates, lower real wages, etc etc.

And in Spain what? I do not believe that the current government is willing to practice any anti-inflationary policy , since its survival rests on a government coalition and a parliamentary majority that is only politically sustainable from the logic of greater public spending, whatever the circumstances of the economy. And that is what this government desperately needs to function. If he is deprived of it or if the dose is lowered, he collapses. This is the result of getting into bed with populism and separatism.

The analyst Ignacio Varela has thus seen the refusal of sanchismo to lower taxes:

“It is a mistake to interpret the Executive’s fierce resistance to tax cuts as an ideological position. The thing is simpler and, at the same time, more dangerous: it needs to continue breaking historical collection records to sustain the leonine spending commitments with its partners and reach the elections without loosening one iota of the clientelistic watering can that the president calls “protecting the working middle classes”, the second vice president, “full support for union demands”, and any responsible person, in the present situation, would point out as the surest way to ruin the country in the midst of escalating prices. First of all, to the working middle classes.”

Economic rigor and political polarization mix as poorly as electoral budgets and an effective fight against inflation.

Be that as it may, these difficulties are compounded by the electoral proximity: in May 2023 regional and municipal elections and in eighteen months in general, and the proximity of those dates does not give much room to fight against inflation, unless, of course, , that the EU get serious and demand measures against inflation from all its members, including Italy and Spain.

And it is that populism does not stop mowing the grass under the feet of democracy, either in Latin America, or in the EU. For example, it is not understood that in developed Italy the Draghi government has been charged to give way to populism , this time probably from the right.

30 Telegram Channels Closed For Selling Counterfeit Branded Products

Three criminal groups used the Telegram social network to sell branded products from Asia that were counterfeit . To do this, they used camouflaged links that allowed them to bypass the anti-counterfeit controls established by the platforms and by the brands.

This operation began at the end of 2020 and as reported by the Police this Thursday, there have been six people in Barcelona, ​​Cáceres, Madrid, Murcia, Valencia and Ferrol , while another ten people have been declared under investigation.

This new fraudulent modality requires that the manufacturers of counterfeit products and those who run the entire network need to recruit people in each country to be able to advertise their products . In this way, a ‘network of affiliates’ is being generated who receive commissions for each transaction, which encourages more operations to be carried out.

new tools
In these channels, daily and systematically, a multitude of camouflaged links were advertised that allowed the purchase of counterfeit textile products through an online sales platform, simulating the purchase of unbranded products. Some of these channels had more than 45,000 users, which exponentially increased the sales volume of each item offered.

To further increase sales volume they designed ‘ bots ‘ or computer programs that perform the tasks they are programmed to do. This procedure allowed them to automate publications and carry out other actions such as detecting and acting against users who did not follow the established security measures.

Cheapest Electricity Rates On The Market, According To The OCU

Despite the fact that the ‘Iberian exception’ mechanism is allowing customers in Spain to lower their electricity bill (around 11% less) , the truth is that the price they must pay is still too high. So much so that in this month of August the average regulated bill has been the second most expensive in history , rising to 130.99 euros for an average household, according to the Organization of Consumers and Users (OCU).

“This rise would have been even greater if the gas cap had not been in force, since the average bill would have reached 151.55 euros, becoming the most expensive in history,” explains the organization.

For this reason, it is more convenient than ever to analyze the possibilities offered by the market in order to select the best possible offer. However, “the most interesting rates are not usually easy to find,” considers OCU. In addition, as the organization has been able to verify, many of the main marketers do not clearly indicate on their websites the additional charge that must be paid by all new contracts and renewals after April 26 as compensation for the gas cap mechanism, so that the actual price may be increased upon receipt of the invoice.

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To identify the best rates, OCU has identified what, for the organization, are the best offers currently available. However, they recommend users who have a contracted offer before April 26 not to be dazzled by the good prices and to carefully study their situation. “If your current contract is prior to April 26, check carefully that your rate is really more expensive, since to all the ones we show you here you have to add the cost of the measures to limit the price of gas,” they warn.

Domestic Energy
This marketer offers its electricity rate with three periods, with the advantage of including the measure of limiting the price of gas in the cost. “It is, therefore, one of the few offers on the free market that offer a real fixed price ,” says OCU, who believes that having a fixed price, although it may seem high, is very attractive.

Thus, for each kWh consumed, they charge 0.291913 euros/MWh during peak hours, 0.245131 euros/MWh during flat hours and 0.21999 euros/MWh during off-peak hours. In addition, the fixed price per kW contracted during peak hours is 28.16413 euros and the fixed price per kW contracted during off-peak hours is 3.14338 euros.

Iberdrola Online Plan
Available only through online contracting and with an electronic invoice, this rate does not include the cost of the measure to limit gas in generation, so for each kWh consumed (at 0.159353 euros) the cost will have to be added. of the gas measurement, which in August was, on average, 0.161529 euros/KWh.

The price per kW contracted during peak hours is 30.66747 euros, while during off-peak hours it is 4.104338 euros. In addition, from OCU they warn that this rate will be reviewed according to the CPI on January 1, “something that must be taken into account due to the high CPI.”

Iberdrola Special Plan
This rate, on the other hand, is contemplated for telephone and face-to-face contracts in offices. Its starting prices are higher than those of the Online Plan but it has a 15% discount during the first year. Similarly, this rate will be updated according to the CPI on January 1 and does not include the cost of the measure to limit gas in generation.

The price stipulated for each kWh consumed is 0.178662 euros, less the 15% extra discount, plus the measured cost of gas (in August 0.161529 euros/KWh). For each kW contracted during peak hours, the tariff charges 30.52381 euros (less 15%) and 3.512901 euros (less 15%) during off-peak hours.

Endesa Tarifa One Light
This rate includes a promotion that discounts 10% on consumption and an additional 10% during the first 12 months, but does not include the cost of the measure to limit gas in generation.

For each kWh consumed, the rate establishes 0.189 euros, to which must be discounted 10% + an additional 10% discount and add the measured cost of gas (in August 0.161529 euros/KWh). For each kW contracted during peak hours, the price is 33.86 euros, while during off-peak hours it is 7.9973 euros.

Total Energies
This company offers a personalized price plan, so to know the rate you have to upload a current invoice to its website and receive your proposal. “This allows the company to improve the prices that the potential customer is paying, but presenting the most aggressive offers only to customers who already have a low rate,” explains OCU.

In general, the company usually offers three different types of rates (with the same price 24 hours a day, with two sections or with three sections and two powers). The commitment is to keep the personalized discount for 4 years, but the price on which that discount is applied is only kept for the first 12 months. In addition, this rate does not include the cost of the measure to limit gas in generation.

How Science Explains The Success Of Coldplay

The thing about Coldplay, without falling into comparisons, reminds us of the times of “historical records” of the Rolling Stone , The Beatles or Elvis when they filled stadiums and drove their fans crazy to get a ticket for their concerts. And it is that the British are sweeping with their latest tour called Music Of The Spheres Tour 2023 that will pass through Barcelona next May.

That’s right, the band led by Chris Martin breaks a historical record in Spain and sold out 200,00 tickets in less than 24 hours for four consecutive nights of concerts in Barcelona, ​​exactly at the Lluís Companys Stadium.

This event, which keeps them trending these days on social networks and in the media, forces us to collect their story and understand the “key” to their success, but not from the conventionalism of “money-making” or “money-making” gangs. companies”, but from another guideline, from science .

best sound in the morning
To do this, the musical psychologist David M. Greenberg , from the University of Cambridge (United Kingdom), analyzed a group of songs hand in hand with Spotify in order to identify which is the best song to wake up to in the morning.

“Waking up is hard. It’s a real problem, and sometimes it’s a battle to change from feeling tired and agitated to being alert and motivated ,” Greenberg explained upon revealing the Spotify study, which was conducted to find out the type of music that is consume on the internet.

Coldplay and their “proper” music
That’s how he came to ‘Viva la vida’, from the album ‘Viva la Vida Or Death And All His Friends’, by the band Coldplay . “Science shows that music affects us in many ways, including emotionally and physiologically, and within the brain. The right music, like Coldplay’s ‘Viva La Vida’, with its positive energy and strong dynamism, can help you wake up, fill yourself with energy and face the rest of the day , “argued the musical psychologist.

Intensity, positivity and powerful rhythm
For the analysis of the songs, Spotify and Greenberg were based on three musical aspects that ‘Vive la Vida’ fulfills: ” intensity (a song that is too energetic from the beginning will not help you get out of bed. Songs with a softer beginning , which gradually gain intensity help to wake you up gradually); positivity (once you’re awake, you need to motivate yourself for the day ahead); and powerful rhythm (not only the lyrics are important; the sound elements of the music too They are. They will give you energy and improve your good mood).”

In this regard, Angela Watts , Spotify’s vice president of global communications, explained that “music can intensify any time of day, whether you’re on your way to somewhere, working, exercising or celebrating at a party. The playlist to wake up from Spotify will get you started on those gloomy mornings, even before your first cup of coffee of the day .”

In the studio, ‘Viva la Vida’ is followed by ‘Downtown’ by Macklemore and Ryan Lewis, ‘Lovely Day’ by Bill Withers and ‘Confident’ by Demi Lovato.

Home Mortgages Increased In Castilla y León By 28.6%

The number of mortgages constituted on homes in Castilla y León stood at 1,929 in the month of June 2022 and increased by 28.6 percent compared to the same month of the previous year, higher than the increase in Spain (12.0 percent). hundred).

According to the data released this Friday by the National Institute of Statistics (INE) collected by Europa Press, compared to the previous month the constitution of mortgages was also positive in Castilla y León, which gained 10.7 percent, better evolution in this case than the average, where they fell by 3.2 percent.

For its part, the capital loaned in Castilla y León for the constitution of mortgages on homes reached 205,286 million euros, 43 percent more than in June 2021, much higher compared to the national increase (18.7 percent) and a 10.7 percent increase compared to the previous month, compared to a 4.3 percent decline nationally.

The communities with the highest number of mortgages constituted on dwellings during May were Madrid (8,026)), Andalusia (7,916) and Catalonia (6,905) and those in which more capital was lent for the constitution of mortgages on dwellings are the Community of Madrid (1,799 million). euros), Catalonia (1,133) and Andalusia (1,018 million).

In total and according to the data provided by the INE, the citizens of Castilla y León mortgaged 2,635 properties, both rural and urban, for a value of 268,795 million euros during June. Specifically, 2,587 urban properties were mortgaged for a value of 255,803 million euros and 68 rural property mortgages were constituted for 12,992 million euros.

Valladolid was the province in which the most properties were mortgaged in June 2022, with a total of 813 for a value of 88,403 million. It is followed by Burgos (555 farms for 46,337 million), León (359 for 36,228), Salamanca (261 for 28,484), Soria (155 for 12,451 million), Palencia (144 for 18,598), Segovia (137 for 14,357) and Ávila (125). for 13,115 million).

Below the 100 mortgaged farms is only Zamora, with 86 farms for 10,822 million.

Specifically, of the 2,567 mortgaged urban properties in June, 1,929 were homes, for a capital of 205,286 million euros; 22 were solar, for a capital of 8,278 million euros , and 616 were classified as “other urban”, for 42,239 million euros.

The largest capital of mortgaged urban properties in June corresponded to banks (224,648 million corresponding to 2,265 mortgaged properties), followed by other entities (31,155 million corresponding to 302 properties).

For its part, the largest capital of mortgaged rustic properties in June also corresponded to banks (8,643 million corresponding to 37 properties) followed by other entities (4,349 million euros corresponding to 31 mortgaged properties).

Finally, in June, a total of 2,611 properties were canceled in Castilla y León, 2,338 by banks and 273 by other entities, of which 119 are rural properties and 2,611 urban homes.

Real Estate Investment Points To Records In 2022

The positive data from last year for real estate already predicted an even better 2022. And, for now, this is confirmed by the figures from BNP Paribas Real Estate: in the first half of the year , 8,200 million euros were invested in the real estate market , which points to a historic investment volume, with 4,580 million in the real estate market alone. second quarter.

The French bank’s real estate consultant points out in its At A Glance T2022 report that investment activity has been very dynamic these months despite the uncertainties in the international context. Added to the war in Ukraine are inflation and the rise in interest rates , which could draw a less favorable scenario for real estate. However, the figures show that the second quarter has followed the trail of optimism of 2021.

In BNP they point out that the investment market “is in a unique situation”, due to the current diversity of opportunities. The existence of many open and pending negotiation processes this year suggests record numbers in 2022 as a whole, above the peak of 2019. It must be remembered that in 2021 real estate investment in Spain grew by more than 30%.

The volume of real estate investment in this second quarter amounts, as we said, to 4,580 million euros, driven by the repurchase by BBVA of 659 bank branches . The figure represents an advance of 24% compared to the first quarter and 55% if we compare it with the same period of the previous year. This is the largest volume of real estate investment in the entire historical series , according to BNP.

The ‘retail’ sector, protagonist
The retail sector registered 55% of the total investment between April and June, where supermarkets and hypermarkets have shone . By typology, high street stores , which account for 50% of retail movements, and shopping malls, which are once again the focus of investors, are once again in the spotlight.

The living sector is also experiencing a good moment, with the residential -private rented sector and build to rent- leading the way. It concentrated 16% of the investments in the second quarter, thanks, above all, to the increase in demand. In the first six months of 2022, total residential investment reached 1,710 million euros , 92% more than a year ago.

Hotels and offices, on the rise
The offices also strengthen their return, with 1,300 million euros in transactions between January and June, 31% more. In contrast to 2021, Madrid has become the most dynamic market so far this year.

The recovery of the tourism sector has also been reflected in hotel investment, which grew by 125% annually in the first half. As indicated by BNP, the investments have been distributed mainly between Madrid, Mallorca, Catalonia and Andalusia.

As for alternative assets, these have moved a total of 257 million euros, which maintain an investment figure similar to that of 2021 and are divided between student residences (40% of the total), nursing homes (40%) and clinics, laboratories and medical centers (20%). The investments have been distributed eminently between Madrid, Barcelona and Seville.

With a volume of 165 million euros, the logistics sector is the only one that seems to have suffered in this period. BNP attributes this to the failure to close large operations in the sector.

The profile of the investor in the Spanish market
According to the consultant, the large institutional funds are the most active, since they represent 50% of the operations registered in the first semester. Banks and insurance companies also stand out. Thus, in recent months the movements of Greystar have stood out -with the acquisition of 2,500 build-to-rent homes-, Brookfield -purchase of the Princess Triangle- and MDSR with the purchase of the Carrefour portfolio.

Almost half of the operations have been carried out by national investors. Internationally, it is the Germans, with 18% of the total, who have invested the most capital in the Spanish real estate market -the living sector is their preferred investment asset-, followed by the French and North Americans, who between them reach a 30% of the market share in the first half of the year.

Today, thanks to collaborative investment and technology, the profile of the investor is also open to ordinary citizens. Anyone can participate in the financing of a real estate project from small amounts of money. The vehicle for this is the real estate crowdfunding or participatory financing platforms, such as Urbanitae where, from 500 euros, we can rub shoulders with the large funds and benefit, just like them, from interesting returns. A real opportunity considering that, in the global context, real estate continues to show great strength and reaffirms its position as a haven investment.

Lack Of Graduates Prevented 7000 Computer Engineering Positions

The lack of graduates prevented 7,000 computer engineering positions from being filled in 2021.

Some 7,000 positions for computer engineers were left unfilled in 2021 due to a lack of these professionals. Although in sectors related to information technology the unemployment rate barely reaches 3%, companies and institutions annually find, with extreme difficulty, between 35,000 and 40,000 experts to fill these technical positions.

It is one of the conclusions of the IV study of ‘Employability and Digital Talent 2021’, which warns of the shortage of specialized talent. In fact, there were only 8,147 computer science graduates for more than 14,000 companies with hiring processes in these specialties.

“Spain should create 1.3 million ICT specialists by 2030, when at current rates we would not reach 400,000”, recently assured the director of the VASS Foundation and responsible for this study, Antonio Rueda.

In addition, computer engineering careers in Spain only have 16% of female students, despite the fact that they achieve better performance. Specifically, only one in six ICT specialists and one in three graduates in science, technology, engineering and mathematics are women.