Spain’s most expensive areas to rent commercial property revealed

Spain’s most expensive places to rent a commercial property have been revealed.

Estate agents Cushman & Wakefield published their findings in their latest edition of Main Streets Across the World, a report first released in 1988 that analyses the income of commercial and luxury streets in 92 cities around the world.

The report reveals that in Spain, Paseo de Gracia, in Barcelona, ​​stands as the most expensive street, with 2,677 euros per meter per year.

 This is closely followed by Portal de l’Àngel, also in Barcelona, ​​while in the capital city Madrid, Serrano, Gran Vía, and Preciados are the priciest places to rent commercially.

Marqués de Larios street in Malaga is among the most expensive in Spain in terms of the cost of renting commercial premises with a rent of 1,800 euros per square meter per year.

In Andalusia, the second most expensive route is Calle Tetuán in Seville, with 1,260 euros per meter per year.

Other notable streets are Calle Colon in Valencia (1,440) and Calle Gran Vía in Bilbao (1,320).

The report, which is prepared at a time of a “clear rebound” in the sector after the pandemic, places Barcelona’s Paseo de Gracia in position 18 worldwide, housing luxury brands such as Dior, Versace, Loewe, or Swarowski, among others, reports La Opinion de Malaga.

The report noted that New York’s Fifth Avenue ranks as the most expensive retail destination in the world, followed by Tsim Sha Tsui in Hong Kong and Milan’s Via Montenapoleone.

London’s New Bond Street has slipped out of the top 3 rankings, falling to 4th globally and the Avenues des Champs Elysees in Paris rounds out the top five positions.

Oslo (Nedra Slottsgate) experienced the largest jump in the rankings from 27th to 23rd, while Warsaw (Nowy Swiat) experienced the largest decline, falling from 32nd to 36th.

The report added that rents across global prime retail destinations declined by 13% from before the pandemic to their lowest point on average, but have subsequently rebounded to sit 6% below pre-pandemic levels.

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