Market Dynamics: Rising Investments and Emerging Trends
In 2025, the Spanish real estate market is showing strong growth in investment volumes. Analysts project that by 2030, total investments in development projects will reach 50 billion euros. This represents a 43% increase compared to 2024, when investments totaled 35 billion euros. The surge is driven by changes in financing structures and the entrance of new players into the market.
Shifting Financing Structures: The Role of Alternative Investors
Recent years have seen a clear decline in reliance on traditional bank loans. In 2024, banks provided up to 58% of all funds directed toward construction projects. However, by 2030, their share is predicted to drop to 51–53%. At the same time, alternative financing sources—investment funds, private companies, and crowdfunding platforms—are gaining traction. Their collective share is expected to grow to 40%, equivalent to 18.5–20 billion euros. Of these, the crowdfunding and crowdlending sectors are expanding especially rapidly and could attract up to 1 billion euros by 2030.
New Formats and International Experience
Alternative investors are becoming particularly active in segments where banks show less interest. This includes acquiring land plots, financing the early stages of construction, and supporting projects with a higher risk profile. Additionally, alternative sources are increasingly involved in funding new residential formats such as flex living apartments and senior living residences.
International experience shows that in Anglo-Saxon countries, alternative investments have long held a significant share of the market. In the UK, they account for 40% of real estate development financing, and in the US—up to 50%. In continental Europe, and especially in Spain, banks still play the leading role, but the situation is gradually changing. Private equity funds and other alternative structures are actively expanding their presence.
Outlook and challenges for the sector
Experts note that the growth of alternative financing contributes to greater market flexibility and resilience. New sources of capital allow developers to implement more complex and innovative projects, as well as respond more quickly to shifting demand. At the same time, the transition to a new financing model requires market players to adapt to changing conditions and manage risks more carefully.
Overall, by 2030, the Spanish real estate market is expected to become more diversified and resilient to external shocks. Alternative investors will secure strong positions, while banks will maintain an important, though no longer dominant, role in financing construction projects.
