Spain's real estate sector to invest €77.5 bn in construction through 2031

EY-Parthenon forecasts that Spain's real estate sector will mobilise about €77.584 billion and 53.2 million m² of building space between 2026 and 2031. The outlook points to a new growth phase despite higher construction costs and regulatory uncertainty, with the overall pipeline of developable land remaining almost unchanged.

Investment is expected to rise 7.2 % year‑on‑year, with the residential‑classic segment receiving the largest share (€36.1 bn, 46.5 % of total), followed by affordable housing (€17.6 bn, 22.7 %) and hotels (€11.3 bn, 14.6 %). The report highlights the need for greater capital to offset rising material, energy and transport costs.