Economic and Real Estate Sector Indicators No. 68

Here is the 68th issue of our GIX Report where we share the reality of the Spanish economy and real-estate sector every month.

The Spanish economy continues to show attractive year-on-year growth rates, although a new cycle of consolidation is beginning, during which growth is likely to slow throughout 2026 and 2027. Private consumption and investment are contributing less to GDP growth, whilst exports are losing momentum to a greater extent than imports. Geopolitical uncertainty has led to economic and monetary uncertainty, becoming a key factor in the new cycle, which will be characterised by a lack of confidence rather than a slide into recession.

Meanwhile, the labour market is showing strength in Social Security enrolment figures – the indicator most closely linked to the real economy – despite the fact that registered unemployment figures are very high, having become almost endemic to the Spanish economy.

The financial markets are performing well, with significant growth on the stock market, providing listed companies with a good source of funding; interest rates and the yield on the 10-year Spanish government bond, currently in the 3.3%–3.5% range, which in turn affects property yields and the Euribor as a benchmark for mortgages, are also reflecting movements in line with the ECB’s monetary policy.

Key indicators for the residential property market continue to show low levels of activity, with few planning permissions and few mortgages, creating a tension between supply and demand that is reflected in prices and rents.

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 July 2026 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