Real estate investment in Spain will continue to rise in 2025, with projected growth of 15% to €16 billion, according to CBRE. However, supply shortages, regulatory complexity and global economic uncertainty represent key challenges. At the European level, investment will grow by 20%, outpacing the Spanish rate by five percentage points.
The residential sector will be the main focus of investment, representing between 30% and 35% of the total. Options such as senior living and flexliving are gaining ground, although the lack of supply will continue to raise prices by 5.3%. Government measures such as the construction of affordable housing or penalties for non-compliance with rent caps in Catalonia are not yet being considered.
The hotel sector will remain strong, with Madrid, Barcelona, the Balearic Islands, the Canary Islands and Malaga accounting for more than 80% of investment. It is expected to represent between 20% and 25% of the total, driven by tourism, which will reach 97 million visitors. In retail, physical stores will continue to be preferred, although the lack of rented space will drive up rents, with the sector accounting for up to 21% of total investment.
Offices will account for 15% of investment, with stable demand in Madrid and growth in Barcelona. In logistics, after years of strong expansion, the availability of space will decrease, requiring technological solutions such as artificial intelligence to improve efficiency in the sector.