Indices reveals a robust recovery in sales, surpassing pre-pandemic levels by 14.3% in 2019. Demand remains steady, and vacancy rates are low. Footfall has rebounded, exceeding 2019 levels by 1.6%, attributed to increased visit frequency, although dwell times have also risen. Health & beauty and leisure sectors experience notable growth, particularly in books, toys, and gifts categories.
While the leisure sector sees improvement from 2022, it still lags behind 2019 figures, notably in the cinema sector. Despite leasing activity slowing in Q1 2023 due to reduced unit availability and floor area, total take-up remains relatively stable compared to 2019.
Fashion dominates take-up in Madrid and Barcelona’s main high streets, with smaller units comprising the majority of deals. Prime rents in 2023 outpace previous years, with forecasts indicating continued growth in 2024 amidst declining vacancy rates in Madrid and Barcelona.
Comments are closed.