Retail, market data - Figures first quarter 2024 Spain

During the beginning of 2024, the high demand from operators to establish themselves in the main commercial hubs that was observed at the end of last year has been maintained, as well as low availability, reaching in some cities the lowest levels since the last five years. Rental transactional activity has stabilized and even increased compared to the same period last year, with 11%.

In the first months of the year, retail positioned itself as the leading sector in terms of investment volume, concentrating 36% of the total volume transacted nationwide in the real estate sector. This figure for the first quarter represents 63% of the total volume invested in 2023 as a whole, with 1,264 million euros.

The sales and footfall figures in shopping centres continue the positive trend of the end of last year. Compared to the same period last year, sales increased by 5.4% and footfall by 5.5%. In terms of the typology of the centres, those located in urban areas and those with more space for leisure are substantially improving their performance. Average sales recorded are, respectively, 7.1% and 11.5% above those recorded in the first quarter of 2023. It should be noted that the most leisure-oriented centres were the most affected in the years following the pandemic, thus highlighting their recovery.

The interest of international brands in establishing themselves in the prime areas of the country continues to be significant, however, in the first three months of the year, 57% of new transactions have been made by national retailers. In terms of the most active sectors, fashion, speciality retail and accessories accounted for 73% of the total number of new openings. Behind them are sports operators (sports clothing and shoes) and home stores, with an increasing presence in specific sections of prime streets.