According to reports from Cushman & Wakefield, Savills, and Deloitte, total investment in the Spanish real estate market is expected to grow by approximately 20% in 2025, reaching around €17 billion. The forecast is based on transaction dynamics across key segments, including residential, hospitality, office, and logistics real estate. 

The publication highlights that rising investor activity is supported by macroeconomic indicators. Spain’s GDP is projected to increase by 2.6% by the end of the year, while inflation remains contained, and lower interest rates are boosting the attractiveness of real estate deals for both private and institutional investors. 

Among the most significant transactions, the report cites Neinor Homes’ acquisition proposal for Aedas Homes and the Nido consortium’s completed acquisition of the Livensa student housing network for about €1.2 billion. Additionally, negotiations are ongoing for a potential sale of the HIP hotel portfolio. 

In the logistics real estate segment, investment firm GIC acquired a portfolio of warehouse facilities in the Los Gavilanes area. The report underscores the growing demand for logistics infrastructure, driven by the expansion of e-commerce and supply chain development. 

According to Cushman & Wakefield, Savills, and Deloitte, investment growth in the second half of 2025 is expected to be supported by stable rental rates in the residential and hospitality segments, along with continued consolidation among student housing operators. 

Based on Cinco Días data, the total volume of transactions by the end of 2025 is forecast at around €17 billion, representing an increase of nearly 20% compared to 2024. 

Comment from the Investment Division of M24 SunShine: 

Although the expected 20% growth appears impressive, part of the increase is driven by one-off transactions, such as the €1.2 billion Livensa acquisition. Sustaining this growth long-term requires a broader foundation: without a solid recovery in the office segment and stabilization of housing prices, the market could slow down again. Moreover, reliance on lower interest rates makes the dynamics vulnerable to potential monetary tightening in 2026.