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Construction GDP contracted by 1.1% in the first half of 2025, driven by a 24.6% decline in Civil Works. The mortgage market shrank by 9.2% , affected by a weak labor market and rising housing prices.

In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.

The accumulated Construction GDP grows 10.1% in the second quarter of 2024, with increases in all subsectors. In a change of trend, the mortgage market is now increasing 2.2% in real amount and is set to continue advancing

At the end of 2023 we find opposite results in the Real Estate market. Construction presents historical results, growth rates well above the average in different indicators. The housing market is contracting with figures as of November 2023. In both cases, we estimate that in 2024 both sectors will reverse the trends

At the end of 2021, Construction grew faster than the economy, facing a strong increase in input prices, it is expected that in 2022 it will grow, driven by Civil Works. The mortgage market continues to advance but at a more moderate pace for this year.

In the middle of this year 2021, official figures show strong growth in the construction sector, an annual rate of 9.5%. A strong advance was to be expected in 2Q21, given that a year earlier the sector contracted more than 20%.

Despite the fall in GDP in 2H20 (-9.0% YoY), housing sales rose by 2.4% and mortgages by 5.1%. However, many of the factors supporting sales may be temporary. Towards the second half of the year, the sector could show a vigorous recovery. Its fundamentals are solid.

1Q18 ended with a greater increase in home sales than previous quarters, despite the contraction seen in March. This increase encouraged housing prices to rise, although at slower rates and with heightened regional heterogeneity, according to appraisals. Housing investment, for its part, rose sharply in 1Q18.