The Spanish real estate market is going through a phase of slowdown with mixed signals, marked by tighter access to credit and demand that is beginning to shift.
Far from an abrupt correction, the current environment points to a more selective market, where mortgage financing has become more restrictive and the average cost of new mortgages stood at around 2.75% at the beginning of the year. At the same time, the evolution of property transactions confirms this change in cycle. Following the strong momentum seen in 2025, the first figures for 2026 show a slight year-on-year decline, consolidating a scenario in which access to housing remains under pressure due to high prices, limited supply and tighter financial conditions.
In this context, the traditional real estate investment model, based on the direct purchase of assets, is beginning to coexist with new, more flexible alternatives.
From owner to lender: a new way to gain exposure to real estate
Investment in residential property has traditionally been linked to the direct management of assets, with responsibilities such as maintenance, tenant relations and default risk. However, in recent years, an alternative based on financing projects has gained increasing relevance. This approach allows investors to generate returns through interest income while maintaining exposure to the real estate sector without assuming the day-to-day operational responsibilities associated with ownership.
In this context, real estate crowdlending is emerging as one of the fastest-growing financing models in Spain and across Europe. It is a participatory financing model in which several investors provide capital to real estate projects in exchange for a previously agreed return. Its expansion is partly driven by the growing selectivity of traditional banks, which have reduced their exposure to developer risk, particularly in smaller transactions.
Democratisation of access to real estate investment
One of the main attractions of crowdlending is its accessibility. Unlike the direct purchase of property, which requires significant initial capital, this model allows investments from relatively small amounts — in the case of Hausera, from as little as €100 — making it accessible to a broader investor profile.
This type of investment enables capital diversification across multiple projects, with defined timelines generally ranging between 12 and 18 months. In addition, it offers indirect exposure to the real estate market while eliminating the need to manage properties, tenants or operational issues.
Profitability and sector growth
Real estate crowdlending in Spain continues to gain traction steadily. In 2024, the sector moved close to €396 million and, in the first quarter of 2025 alone, had already surpassed €70 million, with a growing number of investors entering this type of financing.
This is combined with average annual returns of between 10% and 12%, with relatively short investment periods of around 14 to 15 months, further reinforcing its appeal in the current moderate interest-rate environment.
In this scenario, platforms such as Hausera reflect the sector’s evolution. The company focuses on the refurbishment of existing properties, particularly those that are vacant or in poor condition, rather than on new land development. In 2025, the company financed €54.5 million, multiplying its volume sixfold compared to the previous year, and achieved an average return of 15.55% on completed projects.
The platform also surpassed 5,000 active investors and executed more than 30 projects, mainly in Spain and Italy, with timelines between 12 and 18 months, aligned with current investor preferences.
A trend aligned with the macroeconomic environment
Ultimately, the rise of real estate crowdlending responds to several structural factors: tighter traditional lending conditions, the search for returns in an environment with limited conservative investment products, the digitalisation of investment, and growing interest in real assets as a hedge against financial volatility.
At the same time, structural tensions within the real estate market — such as limited supply and rising housing affordability challenges — reinforce the appeal of participating in the early stages of the asset cycle.
About Hausera
Hausera is a leading platform for real estate investment and crowdlending. Its focus on democratising investment allows both individuals and companies to participate in high-potential Real Estate projects.
Through its platform, Hausera offers a transparent, secure and profitable solution by directly managing the entire process, from sourcing the property to refurbishment and its subsequent rental or sale. Compared with other competitors, the platform stands out for its focus on transforming uninhabitable or off-market properties into homes located in high-demand areas.
In 2025, Hausera surpassed €54 million in financed volume, driven by an increasingly diverse and professional investor community that trusts the platform as a profitable, secure alternative aligned with the latest trends in the real estate market.
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