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Retail Rents on Madrid’s Gran Vía Are 20% Less Than at the End of 2019

Data from the Brainsre real estate big data platform confirms that along most sections of Madrid's main thoroughfare, tenants are paying 20% less for their retail premises than at the end of 2019.

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The biggest discounts to be found during the sales on Madrid’s Gran Vía are… on the street itself. This year’s Black Friday is marked by absolute availability in terms of capacity and hours following the restrictions of the pandemic. But the main shopping street in the Spanish capital looks to be a long way from returning to the rent levels that were paid just three years ago. In fact, the rental prices along most sections of the thoroughfare come with discounts of between 20% and 30% per square metre.

According to the Brainsre real estate big data platform, the average retail rental price in the Central District of Madrid continues to be the highest in the entire city, at 25.51 euros per square metre at the end of September. That figure represents an increase of 13.37% compared to what was being paid in the autumn of 2019, the third largest increase if you look at the statistics by district (after Villaverde and Carabanchel).

Read the full article in Spanish.

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