Economic and Real-Estate Indicators Num. 60

Here is the 60th issue of our GIX Report where we share the reality of the Spanish economy and real-estate sector every month.

The INE has published preliminary National Accounts data for the third quarter, showing a lower year-on-year GDP growth rate than in the previous quarter, which includes quarter-on-quarter data. We are growing, but slowing down. Consumption is driving growth, more on the private side than on the public side. Investment in construction remains strong, driven by non-residential real estate. The external sector is also weakening, with exports falling by 1.87 percentage points in their quarterly variation and almost one point in the year-on-year rate.

By productive sector, all are down except industry, with a mere 0.7 p.p. year-on-year variation compared to the same period in 2024, and construction, which is up by 2.3 percentage points.

The number of mortgages taken out is the lowest in the last five months, and the average term in months since 2021 has risen by eight months.

Inflation returned to 3.0% in September and is likely to exceed that figure in October.

The +50 real-estate economic indicators analysed include:

• GDP
• Consumer Spending
• Capital Investment
• Exports
• Imports
• Industry
• Investment in Construction
• Investment in Housing
• Investment in Other Buildings and Constructions
• Other

• Unemployment in Construction
• Housing Stock
• New Build Stock
• Appraised Value of Unsubsidised Housing (€/m2)
• Land Sales
• House Sales
• Yearly Theoretical Effort for Housing Affordability (years)
• Houses Started
• Gross Return on Public Procurement Rentals
• Other

Download below the Gix Report for November 2025 and find out the details and trends in economic data and the building and real-estate sector. You can also see the previous GIX Reports