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Indicadores de desequilibrios de precios del mercado inmobiliario comercial

Author

Listed:
  • Luis Fernández Lafuerza

    (BANCO DE ESPAÑA)

  • Irene Roibás

    (BANCO DE ESPAÑA)

  • Raquel Vegas Sánchez

    (BANCO DE ESPAÑA)

Abstract

La identificación de los desequilibrios de precios de los inmuebles comerciales resulta esencial, dado el potencial impacto adverso que podrían tener sobre la actividad económica de las empresas y la estabilidad financiera. No obstante, la construcción de indicadores de desequilibrios para este mercado en España es en extremo compleja, principalmente debido a la ausencia de suficiente información histórica sobre los precios. En este documento, se presentan cuatro indicadores de desequilibrios para el mercado inmobiliario comercial, similares a los utilizados regularmente por el Banco de España para el mercado inmobiliario residencial. Según los resultados obtenidos, en el período más reciente, los precios de los inmuebles comerciales no evidenciarían indicios de encontrarse por encima de su nivel de equilibrio a largo plazo. Sin embargo, debido a las limitaciones en cuanto a la disponibilidad histórica de los datos, así como al amplio rango de valores que arrojan dichos indicadores, es necesario tomar los resultados obtenidos con cierta cautela y avanzar en el desarrollo de herramientas para monitorizar este mercado.

Suggested Citation

  • Luis Fernández Lafuerza & Irene Roibás & Raquel Vegas Sánchez, 2025. "Indicadores de desequilibrios de precios del mercado inmobiliario comercial," Occasional Papers 2507, Banco de España.
    • Handle: RePEc:bde:opaper:2507
    DOI: https://doi.org/10.53479/39625
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    More about this item

    Keywords

    mercado inmobiliario comercial; precios; indicadores de desequilibrio de precios; locales; oficinas;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

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