Boom in the High Street market in Madrid and Barcelona

 Boom in the High Street market in Madrid and Barcelona

In Madrid, the High Street market – local shops on the street – is passing through a very good phase. This is due to the better economy, to greater consumer confidence and the rise in tourism, especially, according to the report “Marketbeat Retail España”, from Cushman & Wakefield.

The market in Madrid can be divided into two main zones: the centre and the Barrio de Salamanca, where both areas have a total of 912 premises and the percentage of their availability has dropped to 6% allowing interaction between the supply and demand of commercial space. The streets José Ortega y Gasset, Goya y Serrano are the main ones in the Barrio de Salamanca, with 355 commercial premises and an availability rate of 6.5%. The most important operators in these streets are luxury brands, premium and mass market. The most exclusive brands are to be found in Ortega and Gasset (66% of the luxury brands) and Serrano (43% of the premium category).

The centre of Madrid brings together in its four main streets most of the commercial offering of the city, with more than 557 commercial premises and an availability rate of 5.4%. Fuencarral and Gran Vía contain most of the stock with 80% of the total and 477 premises.

Highly concentrated supply in Barcelona

Commercial supply in Barcelona is highly concentrated in the centre of the city. Its main shopping streets are Portal de l’Àngel, Passeig de Gràcia, Diagonal (the stretch between Passeig de Gràcia and Francesc Macià), Plaça Catalunya, la Parte Alta de la Rambla, Rambla Catalunya and Portaferrissa. These streets have a total of 846 commercial premises, with an average availability of 2%.

Rambla de Catalunya has the most extensive commercial supply with a total of 232 premises representing 36% of total supply. Passeig de Gràcia in the ‘place of excellence’ for luxury brands, premium and mass market. In the last few months, the Avinguda Diagonal has also stood out and currently represents 19% of the total number of premises, mostly occupied by fashion houses. Portal de l’Àngel is the ‘number one’ street in Spain, with the highest rents in the land. Mass market operators are predominant in this road.

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