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The State of the Retail Sector in Barcelona

Commercial property has been the worst hit real estate sector by the pandemic, which has only served to aggravate an earlier crisis.

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Thirteen years after the 2008 subprime crisis, many assets have failed to recover their pre-crash value.

One of the most significant of these is retail premises. After these years, the prices in the sector are still 40% lower than in 2008. According to Brains Real Estate’s big data real estate platform, the sales price of retail premises reached a high of 1,922 euros/m2 in 2008. The fall continued until the end of 2013, stabilising until the second quarter of 2020. But the Covid crisis once again precipitated a new and sharp fall in prices.

In Barcelona, the price of commercial premises performed better than the national average. While prices remained stable between 2013 and 2020 in Spain, they rose by 28% from their low until the beginning of 2020 in Barcelona. It is at this point that the Covid-19 returns to push prices back down by 7.5%.

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