Spain’s real estate opportunity through a tokenized lens

Spain is consolidating its position as one of Europe’s most relevant real estate markets. According to the analysis by ACI (Asociación de Consultores Inmobiliarios), the country’s share of European real estate investment has grown from 6% in 2019 to 15% in 2025, placing it close to traditionally dominant markets such as France and Germany. Real estate investment in Spain reached €16.928 billion in 2025, 30% more than the previous year.

Real estate combines three characteristics that are particularly well suited to tokenization: real assets, recurring financing needs, and an investor base seeking understandable opportunities backed by familiar structures. In Spain, the residential and hotel segments carry significant weight within real estate investment: residential accounts for 27% of investment, above other leading markets, and hotels account for 24%, well above the hotel-sector share in other major European markets.

For developers, asset managers, and real estate companies, tokenization opens up a complementary route to bank financing or traditional private capital. It makes it possible to structure debt or equity transactions, broaden the investor base, digitalize processes, and prepare assets for an environment in which regulated secondary trading will become increasingly relevant.

Key use cases

OTESA is a strong reflection of this thesis: a real estate transaction structured as a tokenized bond, with a 10% annual interest rate and a mortgage guarantee over land, launched through Alius Capital with Token City’s infrastructure. The objective was to transfer a common structure in the sector — financing secured by a real estate asset — into a digital, accessible format aligned with the regulated framework.

Equalice shows another application of this same logic: bringing professional real estate investment closer to a broader investor base through projects accessible from reduced investment amounts, with a focus on transparency, opportunity selection, and participation in specific real estate assets. In this type of model, tokenization helps strengthen traceability, digitalize the investor relationship, and prepare operations for a more efficient and scalable market.

Another powerful example of the potential of tokenization applied to fractional investment in residential real estate is Equito. With 124 properties under management and counting, its model makes it possible to invest in fractions of properties from €100, receive rental income, and participate in the potential capital appreciation of the assets. For platforms of this kind, tokenized infrastructure provides a particularly relevant technological layer for representing economic rights, automating processes, and enabling a simpler, more digital, and more accessible investment experience.

Token City's role in Spain's real estate sector

Token City is positioned precisely at that intersection: advisory, technology, and regulated infrastructure to issue, register, distribute, and progressively facilitate the trading of tokenized financial instruments. Our proposition combines structuring, regulatory compliance, native blockchain registration, regulated channels, and distribution capacity.

With Spain now in the top tier of European real estate, the conversation is shifting toward how investment opportunities are structured, how they are distributed, and how access to them can be made more efficient.

That is where tokenization as financial infrastructure takes on a leading role for a sector that demonstrates growth, depth, and investor appeal.

You can view ACI's report here.