Real estate investment in Spain hits a historic record: over €12 billion by June
Real estate investment in Spain closed the first half of 2026 with a record figure: €12.034 billion, up 59% from the same period the previous year. This marks the best half-year result in the entire historical series, surpassing the previous high recorded in 2022, when investment reached €9.7 billion.
According to data from consultancy CBRE, Madrid and Barcelona concentrated the bulk of investment activity, accounting for 56% (€6 billion) and 13% (€1.4 billion) of the total, respectively. Andalusia contributed 8% of investment, the Valencian Community 5%, the Balearic Islands 5%, and the Canary Islands 3%.
Institutional investors lead the market
Institutional investors were the most active through June, accounting for 23% of the volume invested, followed by REITs (socimis), with 20%, and asset managers, with 17%. By origin of capital, domestic investors led the market with nearly half of the total volume invested, ahead of Canadian capital, with 17%, and US capital, with 10%.
At the start of 2026, CBRE had forecast investment growth of between 5% and 10% for the full year. The activity recorded during the first half, together with deals currently underway, has led the consultancy to raise its forecast to over 15% growth for the full year, a figure that could rise further if additional corporate transactions close.
Residential leads investment
By segment, residential led investment with over €4.58 billion, or 38% of the total, after surging 156% year-on-year. Among the most notable transactions of the period was the sale of 5,000 rental homes by Fidere, a Blackstone-owned REIT, to Brookfield, for close to €1 billion.
Hotels accounted for another €2.09 billion, or 17% of total investment. Offices totaled €1.621 billion, or 14%, while retail reached €1.63 billion, also 14%. Alternative assets, including student housing, parking facilities and sports complexes, among others, totaled over €1.4 billion, or 12% of the total, and the industrial and logistics segment closed the half-year with €690 million, the remaining 6%.
These figures confirm the strong momentum in the Spanish real estate sector, with solid investor appetite across both the residential segment and other asset classes, positioning Spain as one of the most attractive markets in Europe for both domestic and international capital.