Spain – Launch of the Statistical Information Centre of the Notariat

posted in: National news

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On 3 July Spanish notaries celebrated the official launch of the Statistical Information Centre of the Notariat (CIEN), a resource which contains constantly updated data from the Computerised Single Index (IUI). This index is a digital database which centralises all legal instruments concluded in Spain's 2600 notarial practices. Detailed, anonymised statistical reports are now available on a dedicated web portal (www.cienotariado.org).

This website makes it possible to carry out personalised research and verification of various statistics relating to the property market, mortgages, and commercial information such as the incorporation and winding-up of companies, mergers and acquisitions and the average capital provided by shareholders. Statistics from 2007 are the starting point for calculating trends.

The CIEN is a valuable tool for analysis, as it provides official, trustworthy and numerous statistics that will no doubt be of great use to researchers, the media, research departments, economic and social agents and public authorities, as well as the general public.

Not only does the statistical data from the Spanish notariat constitute an essential element for a good socio-economic study, but it will also, and above all, help Spain to make the leap it needs to reach the level of quality required by multilateral institutions such as the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD) for statistical standards.

Indeed, in recent years these organisation have noted that there has been a lack of reliable data on real estate transactions and prices, even though the source of and the solution to the economic crisis in fourth largest eurozone economy are to be found in this information.

The CIEN meets this need by making available detailed information, with a delay of between one and two months, on real estate prices by municipality and even by district in large cities such as Madrid and Barcelona. It also holds data on the financing of mortgages and the rates of financing and tax for real estate purchases. Information on the incorporation and winding-up of companies is also available, and serves as an excellent indicator of future economic developments.