Figures
Living, market data - Figures third quarter 2025 Spain
We analyze the Living market in Spain during the third quarter of 2025. Discover how the investment market, profitability, and trends in the residential sector have evolved, including sales, flex living, rental housing (Build to Rent - BTR and PRS), as well as student and senior living.
October 31, 2025 5 Minute Read
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The Living sector consolidates its position as the main attraction pole for investment in Spain up to the third quarter of the year. This upward-trending sector continues to capture the attention of all investors and has become the protagonist of the real estate landscape over the last year.
The difficulty of access to housing and the supply deficit in the main metropolitan areas continues to be one of the main concerns of the residential market in Spain. In this context, the residential market remained in an expansive phase during the first half of the year: demand grew by 8% to reach 380,000 sales, house prices increased by 12.7% year-on-year, while development activity continued to rise (+11%), although it is still far from covering household creation.
During the first nine months of the year, the Living sector continued to lead real estate investment in Spain, reaching a transacted volume of close to 3.73 billion euros and representing 29% of the total investment. This figure represents an increase of 51% compared to the same period last year.
Madrid is reconfirmed as the preferred destination for investors, attracting 42% of the capital allocated to Living, followed by Barcelona (15%) and Valencia (8%).
The Multifamily segment has accumulated 1.3 billion euros until September (1.170 billion euros in BTR and 172 million euros in PRS), representing 31% of the total transacted in Living. Institutional investors continue to focus their strategy on affordable housing products, which have concentrated 65% of the investment in the Multifamily segment and 23% of the total Living sector.
Student housing registered a record quarter and account for 47% of the total investment in Living up to the third quarter, exceeding 1.74 billion euros transacted, with the Livensa operation having a significant impact. Flex Living has concentrated an investment volume of 590 million euros, mostly in Madrid. Senior Living has registered transactional activity in the third quarter with the first operation of the year in Alicante, a province with the largest number of foreign seniors in Spain.