Portal del Ángel Avenue in Barcelona is the street with the most expensive commercial rental in Spain, with 3,180 euros per square meter per year, according to the report on the main streets of the world prepared by the consultant Cushman & Wakefield.
In a statement, this firm has specified that the second most expensive commercial street in Spain is Preciados Street in Madrid, with a rent of 2,880 euros per square meter.
The third place is shared by Paseo de Gracia in Barcelona and Serrano and José Ortega y Gasset streets in Madrid, all of them with an average rent of 2,580 euros per square meter.
Demand in the most central streets
According to this report, retailers demand to rent new spaces in Spain, but always in prime locations – the main streets and shopping centers -. The polarization between the prices of prime and secondary locations is also exacerbated. The luxury sector is the one that has performed the best during the year with special activity of jewelry stores, women’s clothing and accessories.
This study analyzes the rental prices of 333 more expensive commercial streets of 64 countries and is fed by data obtained from June 2012 until the same month of this year. In Spain, the commercial rental prices of fifteen streets in Barcelona, Madrid, Malaga, Palma de Mallorca, Seville, Bilbao, Valencia and Zaragoza have been analyzed. The activity in Palma de Mallorca and Puerto Banús (Marbella) stands out as a result of the good results of tourism, especially international tourism, and the increase in spending by visitors from emerging economies.
The most expensive streets in the world
The Main Streets Across the World report includes a ranking of the most expensive streets in the world by countries, in which Spain ranks 15th. Lead the Hong Kong ranking, with Causeway Bay street (24,983 euros per square meter). The Fifth Avenue of New York is the second most expensive commercial street in the world and completes the podium on the Avenue des Champs-Élysées in Paris with 13,255 euros per square meter.
SOURCE: VIA EMPRESA