ArmanexT’s latest SOCIMI Report shows a 6.3% increase in the number of listed companies since year-end 2025, with 12 new listings, increasing sector specialisation and a 16.4% rise in aggregate market capitalisation.
Madrid, 03/07/2026. The Spanish SOCIMI market continued its growth and consolidation during the first half of 2026. This is one of the key findings of the SOCIMI Report – First Half of 2026: Market Review and Corporate Activity, published by ArmanexT, which analyses the evolution of listed real estate investment companies across the main Spanish and European capital markets.
As of 30 June 2026, a total of 169 SOCIMIs were listed, ten more than at the end of 2025, representing a 6.3% increase. Aggregate market capitalisation reached €33.954 billion, up 16.4% compared with six months earlier, while the total value of real estate assets increased to €52.337 billion, representing a 4.74% increase since year-end 2025.
ArmanexT Leads the Market as Registered Adviser
According to the transactions analysed in the report, ArmanexT was the Registered Adviser responsible for the highest number of SOCIMI listings during the first half of 2026, further strengthening its position as one of the leading advisers specialising in capital markets transactions for listed real estate companies.
Twelve New SOCIMIs Joined the Market During the First Half
Between January and June, 12 new SOCIMIs were admitted to trading, representing a 50% increase compared with the same period in 2025.
The new companies contributed €1.175 billion in real estate assets, mainly concentrated in BME Scaleup (€693 million), followed by Euronext Access (€339 million) and Portfolio Stock Exchange (€143 million). According to the report, although the value of newly incorporated assets was lower than in the first half of last year, the higher number of transactions reflects a more dynamic market and a broader diversification of new listings.
The report also identifies an increasing degree of specialisation among newly listed SOCIMIs, with companies focused on residential assets, logistics, hotels, senior living, affordable housing and other alternative real estate segments.
BME Scaleup Leads New Listings
By market, BME Scaleup consolidated its position as the leading destination for new SOCIMI listings, accounting for five of the twelve new admissions during the period. Portfolio Stock Exchange welcomed four new companies, while Euronext Access recorded three new listings. No new SOCIMIs were admitted to BME Growth during the first half.
The period also saw two market migrations and two delistings, reflecting an increasingly active market with greater mobility between listing venues.
Capital Markets Continue to Play a Growing Financing Role
The report highlights the increasing use of capital markets as a source of financing for the sector. During the first six months of 2026, SOCIMIs completed 13 capital increases, raising a total of €104.9 million, 25.8% more than in the first half of 2025.
BME Growth accounted for the highest amount of capital raised, while BME Scaleup recorded the largest number of transactions, confirming the growing role of listed markets in supporting the expansion of real estate companies.
A More Mature and Specialised Market
The report concludes that the Spanish SOCIMI market continues to evolve towards a more mature phase, characterised by increasing portfolio specialisation, greater use of capital markets as a financing tool and rising levels of corporate activity.
Against the backdrop of a recovery in Spain’s real estate investment market, the report suggests that this positive trend could continue throughout the second half of the year, provided that favourable macroeconomic conditions and a stable regulatory environment are maintained.
SOCIMI Study – First Half of 2026
An analysis of the evolution of the SOCIMI market during the first half of 2026: activity, new listings, financing, and key sector indicators.