Real Estate Investment Trends for 2026
Last Updated on 9 December 2025 by Equipo Urbanitae
The real estate sector enters 2026 with renewed momentum. After several years marked by caution, international investors are showing confidence and dynamism again, supported by stronger market fundamentals, more realistic price expectations, and progressively returning liquidity. This is reflected in Colliers’ Global Investor Outlook 2026, which anticipates a year of strategic reactivation and geographic and sectoral diversification.
This new cycle is defined by greater sophistication in investment strategies, growing interest in alternative assets (such as data centers), and a renewed prominence of Europe as a destination for global capital.
Active Strategies and Global Diversification
One of the key messages of the report is the shift of investors toward more active, agile, and controlled models. 49% favor direct investments and segregated accounts, while joint ventures and corporate operations (M&A) are gaining relevance as a way to access opportunities with greater flexibility and scalability.
Although 37% of investors prefer core (very safe) or core-plus (safe but with room for improvement) assets, only 9% of the new funds raising capital are targeting these types of assets. This gap between investor demand and fund offerings is creating a supply-demand imbalance, pushing many investors to seek more operational and flexible structures.
Europe is emerging as one of the main beneficiaries of this new cycle: fund-raising in EMEA grew 50% year-on-year, and seven of the ten top cross-border investment destinations are already in the region. Alongside established markets such as the UK, Germany, and France, Southern Europe and Central Europe are becoming increasingly attractive.
Data Centers on the Rise and Office Market Recovery
2026 will be a key year for tech assets. Data centers now account for 31% of global real estate funds raised between January and September 2025, consolidating their position as the second most demanded asset type. Europe is experiencing accelerated growth in this segment, driven by AI, digitalization, and strategic sectors such as defense. The main challenge is ensuring energy availability and compliance with ESG regulations.
The office market is also showing clear signs of recovery. London, Paris, and Munich are leading the return of large-scale transactions, with a renewed focus on assets capable of providing stable long-term income. Core- and value-add-oriented joint ventures continue to gain prominence.
Industrial, Residential, and Retail Remain Strong
Industrial and logistics assets continue to attract capital, particularly in Germany, the Netherlands, and the UK. Iberia and Eastern Europe stand out for their growth potential and role in European supply chains.
In living sectors, multifamily residential and student accommodation continue to grow, driven by limited supply and structurally high demand in the UK, Benelux, Nordic countries, Germany, and Iberia.
Proximity retail is also experiencing a resurgence: supermarkets, shopping parks, and high-street retail are regaining appeal due to stable income and lower development risk.
Redevelopment and Repositioning
A transversal trend for 2026 is the search for added value through asset transformation. High construction costs and limited product availability are driving the redevelopment of existing buildings—especially offices—to meet sustainability standards, occupant needs, and technological updates. Europe and APAC (Asia-Pacific) are leading this strategy.
Outlook for Spain in 2026
Spain faces this new cycle from a particularly favorable position. Interest in logistics, residential—especially multifamily and student housing—and data center assets continues to rise, supported by the country’s competitiveness in Southern Europe and its appeal to institutional capital.
The office market in Madrid and Barcelona shows signs of stabilization, while tourism and proximity retail dynamics reinforce Spain’s profile as a key investment destination in 2026.
Pragmatism Amid Uncertainty
This reactivation perspective coexists with a more cautious approach in other parts of the sector. The report Real Estate Market Trends in Europe 2026, prepared by PwC and the Urban Land Institute, points to a context marked by pragmatism. Geopolitical uncertainty and the advance of deglobalization already concern 70% of sector executives, shaping recovery expectations.
Despite this cautious backdrop, the consultancy confirms that Madrid and Barcelona remain among Europe’s most attractive cities for investment, thanks to their liquidity, stability, and growth prospects.
PwC also highlights two major transformation drivers: the accelerated growth of artificial intelligence—already used by 75% of respondents—and the evolution of the sustainability agenda, which remains relevant but with a more pragmatic approach, less focused on ESG labels.
Regarding segments with the greatest potential for 2026, data centers, energy infrastructure, and various residential typologies—from student housing to coliving—stand out as priorities for European investors.
2026 will therefore be a year marked by the reactivation and repositioning of global real estate capital. With Europe at the epicenter and Spain well-positioned to attract significant flows, the new cycle combines increasing liquidity, price normalization, asset diversification, and value creation as central pillars. A scenario full of opportunities for investors able to combine strategy, agility, and long-term vision.
