1 July 2025
Josefa Salgado, BD Associate Spain & Senior Certifications Analyst
A Market in Sustainable Motion
Spain’s commercial real estate sector is undergoing a transformation marked by strategic resilience, investor optimism, and a strong tilt toward sustainable development. This growth is driven by robust activity in logistics, multifamily residential, and energy-efficient office buildings, indicating a clear market shift toward sustainability-aligned assets.
At the heart of this transformation lies a growing demand for green building certifications such as BREEAM, LEED, and WELL. Investors and occupiers alike increasingly view certification as a marker of asset quality, operational cost efficiency, and tenant wellbeing. Spain now boasts over 2,900 BREEAM-certified buildings, of which 42% are BREEAM In-Use certifications, and 29% are New Construction.[1]
Certifications as Capital Catalysts
Green building certifications have evolved from a checkbox exercise into a strategic lever for long-term value creation. Institutional investors are actively prioritising assets with green credentials to future-proof portfolios and comply with tightening European sustainability regulations.[2] In fact, since 2020, the number of green certified buildings has doubled in Madrid and tripled in Barcelona, with sustainable buildings outperforming non-certified buildings in terms of rental premiums and deal size. [3]In this context, Spain has become top destination for real estate capital, with its two largest cities among the most attractive in Europe for real estate investment.[4]
Asset managers and developers are increasingly embedding certification pathways into design and construction processes from the earliest stages. The WELL Building Standard is gaining traction among office developers looking to attract top-tier tenants by prioritising health, air quality, and mental wellbeing, while LEED and BREEAM certifications demonstrate a building’s energy performance, circularity, and carbon-efficiency. Research has shown the significant effect of Very Good, Excellent and Outstanding BREEAM ratings on prime central London offices, for example, ranging from 3.7% to 12.3% premiums.[5]
Urban Regeneration: Madrid’s Green Horizon
The Madrid Nuevo Norte project exemplifies Spain’s forward-thinking urban regeneration strategy. As the largest urban redevelopment in Europe, with an expected €25 billion in investment, the project is a flagship for future-proof city-building. As a result, it was also the first recipient of BREEAM ES Urbanismo 2020 pre-certification, a marker of green city planning. Anchored in principles of sustainable mobility, renewable energy integration, and green infrastructure, Madrid Nuevo Norte is set to become a global benchmark for regenerative development.[7]
This project alone is expected to catalyse further certifications as developers align with net-zero trajectories and seek to meet green finance eligibility criteria. It also highlights the convergence of policy, planning, and capital around a shared sustainability vision, something that will likely ripple across other Spanish cities in years to come.
What’s Next for Stakeholders?
- For developers, the path forward involves embedding sustainability strategies and certification frameworks as soon as the pre-design stage.
- For investors, certifications are a tool for portfolio decarbonisation and risk mitigation.
- For occupiers, certified buildings are becoming synonymous with wellbeing, productivity, and corporate responsibility.
With our recently opened Madrid office, at Longevity Partners, we stand ready to support stakeholders across the value chain in achieving their sustainability and certification goals. Whether through technical advisory, or asset certification management – our integrated approach helps clients lead the market in the transition to a resilient future.
[1] https://breeam.es/breeam-cumple-15-anos-en-espana/
[2] https://www.jll.com/en-uk/insights/sustainability-remains-a-key-driver-for-european-real-estate-investors
[3] https://www.iberian.property/news/offices/green-offices-double-in-madrid-and-barcelona-since-2020/
[4] https://blog.urbanitae.com/en/2025/03/09/spain-a-booming-real-estate-destination-for-investors/
[5] https://www.knightfrank.com/research/article/2021-09-02-the-sustainability-series
[6] https://www.iberian.property/news/offices/green-offices-double-in-madrid-and-barcelona-since-2020/
[7] https://creamadridnuevonorte.com/en/project/social-and-economic-impact/