Trends in the real estate market in the fourth quarter of 2025

The new G-Trends is now available, Gloval’s quarterly report that gathers the keys regarding the macro environment, the analysis of real estate segments and delves into certain current issues in the sector. This edition also has a new, more visual and attractive design.

Here is an introduction to some of the topics that we will be covering in this new real estate trends report for the fourth quarter of 2025:

RINA, a service company for the energy, naval, infrastructure and mobility, certification, industry and real estate sectors, with more than 6,600 employees in 70 countries, through its European real estate services subsidiary of the European group, Rina Prime Value Services, has acquired all the shares in the Gloval Group, 50% and 33% of which were held by the venture capital funds Charme and Miura respectively, with the remaining 17% owned by the founding partners and the management team, led by Roberto Rey, who will continue as Chairman and CEO of the group. The new owner, which operates in real estate services in Italy, the United Kingdom, Germany and Poland, is making the leap into the Spanish and Portuguese markets, while also looking to Latin America. As the Gloval Group has an appraisal company, the transaction is pending approval by the Bank of Spain. With this transaction, the RINA group strengthens its European presence in valuation services, technical consulting and big data and artificial intelligence services applied to the real estate sector.

Prices have followed a path very similar to the appraisal value, but with their own particularities and as a leading indicator of the former. The recovery after the financial-mortgage crisis occurred a year earlier than the appraisal values, in 2015, and from then on there have been continuous increases until today, but the annual variations have not been the same. For example, from 2008 to 2013, the average annual variation (CAGR) was -6.7% in prices, and in the following 12 years, the average rate reflects increases of 3.7%.

It should be emphasised that public investment needs the support and participation of private capital in its four forms of investment, such as real estate, as can be seen in the risk-return graph that private capital classifies for infrastructure. Analysing the geopolitical situation that is currently unfolding and will continue over the coming years, the provision and promotion of this type of strategic asset is extremely important in order to reorganise supply chains, expand logistics parks, ensure energy supply (electricity, gas, water), as well as create networks for cities and countries and powerful data centres with significant resources for their development, with AI as a fundamental infrastructure.

You may also see our previous Real estate trends and our latest GIX Reports, where we analyse the main real-estate economic indicators in Spain.