Retail, Market Data - Figures Fourth Quarter 2024 Spain

2024 has shown the interest of operators in establishing themselves in the main commercial hubs of the country's cities. The rental market has shown remarkable dynamism, driven by active demand that, despite low availability, has managed to materialize several relevant transactions. In this context, the number of rental transactions on the country's main streets has increased by 11% compared to 2023, and the total area transacted has grown by 15%.

A trend to highlight during 2024 is the increase in demand and presence of accessory brands, which have come to represent 20% of transactions carried out on the street in the year, which represents an increase of 7 percentage points compared to last year. As a result of the growing market tension, prime rents in the High Street market have registered an average increase of 7% nationally compared to the end of the previous year.

Shopping centres have consolidated this year the improvement in their operations that had begun to be observed in 2023. The increase in private consumption and the stabilization of inflation have favored a rebound in consumer confidence, resulting in an increase in footfall and a 4.7% annual growth in sales.

Transactional activity has been dynamic throughout the year, resulting in an increase of 1.7 percentage points in average occupancy, thus reaching the highest levels in the last four years.

The reactivation of investor interest in the retail sector during 2024 has driven a notable growth in investment volume, reaching 2,800 million euros. This figure represents an increase of 135% compared to the previous year and is close to the average of the last 10 years, which stands at 2,900 million euros. In addition, the retail sector has established itself as the third asset class at the national level in terms of investment volumes, attracting 20% of the total, only behind the housing and hotel sectors.