These are the three most expensive shopping streets in all of Spain
The shopping street with the highest rental prices in Spain is Barcelona Passeig de Gracia, according to the international report ‘Main Streets Across the World’ by the real estate consultancy Cushman & Wakefield. According to the report, whose first edition dates back to 1988 and which analyzes the income of commercial and luxury streets in 92 cities around the world, the Barcelona street stands as the most expensive shopping street in Spain, a very short distance from Portal de l’Angel, which was in the first position in the latest report prepared by the consultant in the 2019 ranking, and of Madrid’s Serrano, Gran Vía and Preciados.
The report, which is prepared in a context of a clear rebound in the sector after the pandemic, points out the Barcelona street as the one with the highest rents in Spain with a ‘prime’ income of 2,677 euros per square meter per year and places it in 18th position worldwide. It is precisely the street where Cushman & Wakefield locates its headquarters in the city, and where luxury firms such as Dior, Versace, Loewe, or Swarowskiamong other.
Thus, Passeig de Gràcia is located just in front of two other large streets where retail activity is concentrated in Spain, such as Portal de l’Angel, and Serrano, which register rents practically equal to those of Passeig de Gràcia. In the case of Madrid, the city also has another large shopping street, such as Preciados, and Gran Vía.
In the downtown area, according to the report, Gran Vía and Preciados They keep the demand active and the appetite of the ‘retailers’ for all types of formats and the availability in the ‘prime’ sections is low. In Highlander, the impulse of large luxury firms has contributed to the rapid recovery of the street. Demand from these operators remains at pre-pandemic levels.
Between Barcelona and Madrid, in cumulative terms and according to the recent report “Transparency in High Streets” by Cushman & Wakefield, In the first nine months of 2022, a total of 86 rental operations have been signed in the ‘prime’ and ‘superprime’ areas, which represents an increase of 25% compared to the same period in 2021, a fact that demonstrates the growth and rebound that the sector is experiencing.
This is the most expensive in the world
On a global scale, the most expensive shopping street is Fifth Avenue in New York, with 21,076 euros per square meter per year. The second position is occupied Hong Kong’s Tsim Sha Street with income of 15,134 euros per square meter per year, which replaces Causeway Bay, another street in the city of Hong Kong that was listed as the first in the ranking in 2020.
The podium is completed by Via Montenapoleone, in Milan, with a maximum rental income of 14,547 euros per square meter per year. The ‘top-5’ are completed by New Bond Street in London (14,346 euros per square meter per year), and the Parisian Champs Elysees (11,069 euros per square meter per year).
*The article has been translated based on the content of lainformacion.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!
For all the latest news click here
Denial of responsibility! termbeamer.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – at firstname.lastname@example.org The content will be deleted within 24 hours.