[vc_row][vc_column][vc_column_text]Analizamos de forma ágil las variaciones en las rentas de locales, la diversificación en el uso de espacios y las previsiones y desafíos futuros.
Madrid is not only characterised by its rich history and culture, but also by its dynamic retail market. Over the course of 2023, we have observed the evolution in the occupancy of commercial premises, The city's economic landscape is being moulded by these new technologies.
The dynamics of the retail market in the capital shows a resilient and growing sector, driven by an increase in tourism and a steady demand for retail space in prime areas. However, the future of retail in Madrid will require innovation and adaptability to keep pace with emerging demographic and economic trends.
High occupancy in emblematic streets
Madrid's main shopping streets have shown an occupancy rate exceeding 90%. This is particularly notable in:
- Calle Fuencarral: 100% occupancy.
- Serrano Street: 99.36% occupancy.
- Preciados Street: 95,65% occupancy.
- Gran Vía: 94,76% of occupancy.
- Ortega y Gasset Street: 90% occupancy.
These figures highlight the strong demand for commercial space in high traffic areas, reflecting a robust retail sector.
Diversification in the use of space
The diversity in the type of businesses occupying these spaces is also notable. In areas such as Fuencarral and Serrano, fashion and jewellery dominate, occupying approximately two thirds of the available premises. Catering continues to be a significant sector, especially in Gran Vía, where it accounts for almost a third of the businesses.
Impact of tourism on retail
Madrid has experienced a 20% increase in the number of tourists compared to 2019, which has played a relevant role in the high occupancy of commercial premises. This increase in tourism has contributed not only to higher rents, but also to higher retail sales in the community.
Variations in rents of premises
Rents vary considerably depending on the location and size of the premises. For example, on Calle Serrano, premises smaller than 100 sqm command the highest rents, with prices close to €400 per sqm. In contrast, on Gran Vía, the stretch from Calle Alcalá to Montera offers the lowest prices, ranging from €35 to €65 per sq m for premises of over 1,000 sq m.
Future prospects and challenges
The expected population growth in Madrid, with an estimated increase of more than one million inhabitants over the next 15 years, presents both challenges and opportunities for the retail sector. This growth will require an adaptation in the supply of retail space to meet the needs of a growing population.
For a more in-depth exploration of these trends and their impact on the market, download the full report. ‘Retail 2023 Report’.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_raw_html]JTNDZGl2JTIwY2xhc3MlM0QlMjJyb3clMjIlM0UlMEElM0NkaXYlMjBjbGFzcyUzRCUyMmNvbC1tZC02JTIwb2Zmc2V0LW1kLTMlMjIlM0UlM0NhJTIwY2xhc3MlM0QlMjJidG4lMjBidG4tZGVmYXVsdDMlMjIlMjBocmVmJTNEJTIyaHR0cHMlM0ElMkYlMkZnZXN2YWx0LmVzJTJGaW5mb3JtZXMlMkZpbmZvcm1lLXJldGFpbC0yMDIzJTJGJTIyJTNFREVTQ0FSR0FSJTIwSU5GT1JNRSUzQyUyRmElM0UlM0MlMkZkaXYlM0UlMEElM0MlMkZkaXYlM0UlMEElMjZuYnNwJTNC[/vc_raw_html][/vc_column][/vc_row]