The Spanish Multifamily market

In line with the trend observed in other real estate segments, economic uncertainty and the higher cost of debt slowed investment in the Living sector in 2023. However, interest in the sector continues to grow, underpinned by robust fundamentals including population growth, smaller household sizes, population concentration in urban areas and a substantial imbalance between supply and demand, all of which have translated to strong asset operating performances. Many investors have therefore opted to diversify their portfolios to include Living assets or increase their exposure to the sector.​

Investment in the Multifamily sector stood at over €1.6bn in 2023, down 31% versus 2022, which was a record year with total investments of €2.3bn. Multifamily investment also continues to prove resilient, accounting for 84% of total investment in Living in 2023 versus 58% in 2022, which shows that investors consider the sector a safe haven thanks to the strong demand for rental properties. ​

Download our report on the multifamily market and discover in detail the sector's performance during 2023.