Real estate investment in Spain has exceeded 10,868 million euros up to September, 46% higher than the figure recorded in the same period of the previous year. Specifically, the volume achieved in the third quarter stood at 3.346 million euros, 37% more than in the same quarter of 2024.

Real Estate maintains an investment growth forecast of around 28%, which would bring the total volume to approximately 14 billion euros. The strong momentum of the real estate sector is reflected in a positive evolution across all market segments.

Spain is consolidating its position as Europe’s most attractive market for hotel investment. In fact, this market segment accounted for 28% of total investment in the last quarter, with a volume of around 943 million euros. Investment operations of around 30 million euros were concentrated in traditional destinations such as the islands, Madrid, Barcelona, and the Costa del Sol. Meanwhile, smaller transactions have attracted the attention of investors such as Socimis or French Scpis in alternative locations.

The hotel segment is closely followed by living, with 636 million euros invested this quarter, compared with 456 million in the same period of the previous year. Investor’s interest in rental housing, whether in portfolios or individual assets, in future developments, and also in the acquisition of buildings for conversion to residential rental use. Analysing the operations, those closed in Madrid and surrounding municipalities accounted for 62.5% of the total.

In third place, the logistics sector maintained its positive trend, with major operations in the main hubs of Madrid and Barcelona, raising investment to 495 million euros, the highest quarterly figure of the year. Notable transactions included P3 Capital’s purchase of a portfolio of logistics platforms in Madrid for 146 million euros, and the acquisition of Mango’s logistics complex in Catalonia for 170 million euros. The demand from logistics operators, e-commerce and distribution companies continues to drive space leasing and attract international capital, factors indicating that the year will close with positive forecasts, surpassing 2024 investment levels.

The office sector has seen a rebound in activity, with transactions totalling 514 million euros, 64% more than in the same period of the previous year, driven by the recovery of occupancy in prime buildings and by the interest in highly energy-efficient assets in prime locations. Although still far from pre-pandemic peaks, this segment is showing signs of recovery and represented 13% of total investment this quarter. Madrid has been the setting for major operations, concentrating 80% of the capital, such as the purchase of the KOI complex by Mutualidad de la Abogacía and the acquisition of Serrano 240.

The ‘living’ sector received 636 million euros of investment in the third quarter.

The retail sector recorded an investment volume of 436 million euros in this third quarter, and activity is expected to increase due to a significant number of transactions in advanced negotiation stages. High street retail spaces continue to attract private investors, while retail parks and medium-sized shopping centres are experiencing strong momentum, with notable deals led by French Scpis.

Institutional funds continue to lead investment, accounting for 50% of the total and representing the main investor profile in Spain particularly in logistics portfolios, rental housing, and hotels. Meanwhile, private investors are playing a significant role mainly in the retail and office sectors. Regarding the origin of foreign capital, France leads the ranking due to the active performance of the Scpis.

At CG Capital Europe, we work hand in hand with international funds, institutional investors, and corporates to identify, structure, and execute real estate investment opportunities across all asset classes in Spain including living, hospitality, logistics, retail, and offices. With privileged access to global capital, deep market insight, and a proven track record in complex transactions, we deliver strategic advisory services that enhance value creation and investment performance. Spain’s solid market fundamentals, together with investors’ growing appetite for prime and sustainable assets, continue to drive strong momentum in the sector, positioning CG Capital Europe as a trusted partner for those seeking to capture the most attractive opportunities in one of Europe’s most dynamic real estate markets.

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