Royal Decree-law 29/2026 has been in force since October 8, but Congress's standing committee must still ratify it. It changes IRPF (personal income tax), VAT, property tax (IBI), and municipal capital gains tax (plusvalía municipal).
Madrid home prices rose 12.9% annually to €4,765 per square metre in Q3, down from 15.5% growth in Q2. Higher interest rates and affordability pressures are cooling demand. Buying now absorbs 66% of average household disposable income, against the 35% considered reasonable.
Thousands marched in Madrid on October 24, demanding pension rises that match actual inflation and rejecting privatisation. The Government Delegation counted 25,000 people; organisers said 50,000. With inflation at 4.9%, pensions have entered the debate ahead of the November 29 election.
A general strike over housing is planned for November 11. The employers' association will not challenge the call. The action draws on the feminist strikes of 2018 and 2019, which went beyond traditional workplace demands.
Adopted EU rules set a €10,000 cash cap for goods and services from July 10, 2027. Spain can keep lower limits; private non-business transactions and bank deposits are exempt. Businesses covered by anti-money-laundering rules must identify customers paying €3,000 or more in cash.
Rents fell 0.7% annually in Barcelona and Catalonia in September, Fotocasa data show. Rent caps have applied in 302 municipalities since 2024 and have also cut supply and new contracts. Barcelona City Council has asked to extend the caps to commercial premises.
A phase III trial found that a personalised mRNA vaccine plus pembrolizumab cut relapse or death risk by 42% in high-risk melanoma patients after surgery. At two years, 82.2% were recurrence-free, versus 70% with pembrolizumab alone. ESMO's president said it is premature to say how far the technology will reach.
Barcelona home prices reached a record €4,616 per square metre in Q3, up 10.8% annually, Tinsa by Accumin reports. First-half sales fell 2.3% to 8,010. Buyers are taking longer to complete purchases and securing larger discounts, signs of a slowing market.
Airlines have removed 3,111 flights to Spain from November and December schedules amid a jet fuel crisis. Cirium data show the cuts remove 563,254 seats, about 51 flights a day. Travellers face fewer flights in both months.
PP leader Alberto Núñez Feijóo's campaign proposals would cut taxes from 2027, with 0% VAT on basic foods and electricity while inflation persists. Autónomos (self-employed) billing under €85,000 annually would be exempt from VAT. He also pledged one million homes in four years; these are not enacted measures.
IMF figures for 2018-2027 put Spain's rise in public consumption at 2.7%, against 2.1% for advanced economies. A promised public-sector pay rise of 4.5%, possibly 5%, would add about €10 billion at the higher rate. BBVA Research says meeting fiscal rules is getting harder.
Natixis IM chief global markets strategist Mabrouk Chetouane says French debt tensions could prompt the ECB to delay a rate rise. He sees no major contagion risk for Spain. His view comes ahead of the ECB meeting on Thursday, October 29, and is one strategist's opinion.
Free · Every morning · 5-minute read
One short email a day — what happened in Spain and why it matters. Free, no spam, unsubscribe anytime.
Join 1,000+ email subscribers · cancel anytime
