Retail, market data - Figures second quarter 2024 Spain

The commercial premises rental market in the main axes of Spanish cities is characterised by having consolidated a very limited availability. Despite the current supply shortage, transactional activity has registered a 12% increase compared to the previous year. This increase is a result of the growing demand from retailers to establish themselves in the most prominent prime locations.

This constant increase in demand is perceived in the commercial hubs of the main cities of the Spanish territory, driven by the interest of international brands, which already represent 46% of new openings in 2024. The cities of Madrid, Barcelona, Malaga, Seville and Palma are in the spotlight of these brands, which have included these locations in their ambitious expansion plans in the European market. Fashion and accessories are the most dynamic sectors, accounting for 53% of the total new openings in the market. It is followed by speciality retail operators, where perfumery and beauty stores stand out, as well as the restaurant sector, which has experienced a notable increase in openings so far this year.

During the first six months of the year, shopping centres have continued to register positive operating performance figures, continuing the trend we observed in the first quarter of the year and the end of the previous year. Both sales and footfall have increased compared to the same period of the previous year. Cumulative sales in shopping centres have grown by 3.4%, having increased in most activities.

The growing investor interest in the sector's assets, which was already anticipated at the end of last year, has materialised during the first half of the year, in which the volume of investment has been only 15% below the total recorded in the previous year. In this way, 20% of the total investment in the real estate sector at the national level has been allocated to the Retail sector, only surpassed by the residential and hotel sectors.