High Street Retail in Spain Spotlight - February 2025 (Madrid)

Savills Research analyzes Spain's high street retail market as of February 2025, reporting that Spain's GDP grew 3% in 2024 driven by tourism recovery and consumption, with inflation declining to 2.8% and unemployment reaching 10.6%, the lowest since 2008, while the General Retail Trade Index closed at 106.56 representing 1.7% growth. The document covers prime retail street performance across Madrid, Barcelona, Valencia, Seville, and Málaga, finding that after two years of significant increases, 2024 was a stabilization year with pedestrian traffic declining 2.4% and store entries declining 2.2%, though Madrid's prime retail market of 896 units achieved near-full occupancy on streets like Preciados with only one available unit at €263/sq. m/month rent.