Real estate investment, market data - Figures third quarter 2026 Spain

Real estate investment reaches a record high, exceeding €16.3 billion in the year to September.

Real estate investment in Spain exceeded €16.3 billion in the first nine months of 2026, the highest volume on record for this period. This represents a 25% increase compared with the same period in 2025 and is 65% above the ten-year average.

Madrid and Barcelona accounted for 61% of total investment, with close to €8 billion invested in Madrid (48%) and €2.1 billion in Barcelona (13%). However, activity in regional markets gained momentum in the third quarter, reaching levels in line with the five-year average.

Institutional capital continued to lead investment activity, accounting for 26% of total volume. SOCIMIs increased their share to 17%, while asset managers accounted for 14%, up from 5% a year earlier.

By sector, Living remained the leading investment destination, attracting close to €6 billion (36% of the total), supported by strong performance across multifamily, student accommodation and flex living. Hotels ranked second with €2,922 million (18%), while Retail attracted €2,452 million (15%), underpinned by robust consumer spending and tourism activity.

Alternative sectors and Healthcare continued to gain prominence, with combined investment of €773 million, representing 12% of total volume. Meanwhile, Offices attracted close to €2 billion (12%), and Industrial and Logistics investment reached approximately €1.1 billion (7%), supported by strong market fundamentals.

Prime yields remained stable across most sectors, with shopping centre yields compressing by 25 basis points. Against a backdrop of evolving long-term interest rates, investment activity continues to gain momentum, pointing to a record year for the Spanish real estate market in 2026.