MWCC and DS Ranking present their report on the Evolution of the Housing Market in Spain for November 2025, in which they analyse the behaviour of the sector through the ISYRAV, the indicator designed to measure the effort and risk assumed by households in the purchase of housing.

The Housing Purchase Prudence and Risk Index (ISYRAV), published by MWCC, rose to 25.4 points and anticipates tensions in communities such as Madrid.

The index stands at 25.4 points in the third quarter of the year, representing an increase of 5.5% compared to the previous quarter and 10.6% compared to 2024. Although it remains below the risk threshold (30 points), MWCC and DS Ranking warn that accelerated growth in certain autonomous communities shows a progressive increase in market tension.

House prices continue to rise: the main real estate portals show increases of more than 1% per month and between 15.7% and 18% year-on-year. In Madrid, after a temporary drop in September, prices returned to historic highs in October.

In the mortgage market, the data confirm the strength of the expansionary cycle. After the slowdown in August, mortgages grew in September:

+38.6% in number of transactions,

+40.2% in amount,

according to the INE.

The average duration of mortgages is 25.3 years and their average amount is €167,828, 5.9% more than in the previous quarter. This translates into a greater financial burden for households, an aspect directly linked to the evolution of the ISYRAV.

Sales are progressing strongly (+3.4% monthly and +20.2% cumulatively annually) and new housing stands out with growth of 30.6%, now representing 20% of transactions.

Demand for housing is also rebounding: 2.5 million households are looking for housing, 10.7% more than a year ago.

MWCC and DS Ranking also highlight that the percentage of mortgages granted above 80% of the value of the property now stands at 11.7%, a year-on-year increase of 74.6%. This has led the Bank of Spain to consider a stable financing limit of 80% to avoid systemic risks.

The Spanish property market is experiencing a period of expansion, but MWCC and DS Ranking warn of a gradual increase in risk, especially in tense markets such as Madrid. The evolution of prices, credit and financial effort points to the need for preventive measures to protect households and ensure the stability of the sector.