Report
Retail Index May 2025: growth acceleration of the retail sector in Portugal and Spain
Discover the main data on sales, footfall and occupancy of shopping centers in the Iberian Peninsula
June 23, 2025
General overview: sustained growth of the Iberian retail sector
The CBRE Retail Index May 2025 report confirms a positive trend in the retail sector in both Spain and Portugal. Analyzing 53 out of 60 shopping centers managed by CBRE in the Iberian peninsula, significant growth in sales, footfall and occupancy is observed, consolidating the sector's recovery and its ability to adapt to a changing environment.
Portugal: consolidation of an expanding market
The study data reveals a growth trend in Portugal. Sales in May showed growth of 5.8%, compared to the same period last year, with an accumulated annual increase of 4.8% (YtD).
The number of customers grew 2.6% in May and 1.8% in the year to date. The occupancy rate reached 95.3%, reflecting the strong demand for commercial spaces.
The regional analysis in Portugal, focused on the Center and North regions, reveals different but equally positive behaviors.
Spain: increase in sales and traffic
In the case of Spain, the data reveals a notable increase in both sales and customer traffic.
May's figures show a dynamic environment, with year-on-year sales growth of 10.1% and cumulative annual growth of 4.2% compared to 2024.
Footfall also evolved favorably, with an increase of 7.4% in May and 4.5% this year. Occupancy in shopping centers remains high, reaching 92.8%.
Conclusion: a resilient and expanding sector
The Retail Index for May 2025 highlights the strength of the retail sector in the Iberian Peninsula. The growth in sales and footfall, combined with high occupancy rates, reinforces confidence in the market and demonstrates a sustained growth.
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Carlos Recio
Retail Leasing Senior Director
