Real Estate

Cantabria’s economy is expected to maintain solid growth in 2026–2027, supported by employment, consumption, a recovery in exports, and expansionary fiscal policy. Global economic conditions will continue to weigh on industry and investment, while challenges related to productivity, housing, and labour supply persist.

This study analyzes the saving capacity of Spanish households in 2024. Income is the determining factor. Additionally, household size and housing tenure are key variables that significantly influence family savings.

Grid congestion may delay housing construction and constrain new residential developments in high-demand areas. Accelerating investment in electricity networks, improving coordination between urban planning and grid planning, and optimizing the allocation of network capacity will be key to supporting residential growth.

Housing transactions are set to fall despite strong demand, driven by job creation and immigration. The factor that appears to best explain this decline and the increase in prices is an insufficient supply of housing.

Housing demand will remain strong despite the decline in home sales in 2026 (-7.3%), but housing supply will remain insufficient, continuing to put upward pressure on prices. Grid congestion and growing competition for electricity access are already delaying new residential and economic developments.

The Basque Country economy will maintain growth close to 2% over the two-year period, supported by the strength of the labor market, private consumption and investment, although the deterioration in the international environment increases uncertainty and risks to activity.

The new National Housing Plan 2026-2030 seeks to increase the scarce public housing supply in Spain. Despite tripling resources and safeguarding public ownership, its budget allocation is insufficient given the high rate of household creation.