2026-02-11-莱坊-Spain_Retail_Snapshot_Q4_2025_2页_753kb

Retail Snapshot Summary - Q4 2025

Core Content

The Retail Snapshot Q4 2025 provides an overview of the retail sector in Spain, highlighting key economic indicators, investment trends, and market performance. The data is compiled by experts from the Knight Frank Spain office, based on real market trends and statistics.

Key Economic Indicators

• Spain's GDP Growth: Spain recorded an annual GDP growth of 2.9% in 2025, significantly higher than the European average of 1.4%. This growth is attributed to the strong performance of the tourism sector, job creation, and domestic consumption.
• Tourism Performance: In 2025, Spain welcomed 97 million tourists, a 3.2% increase from 2024. This marks a record in both visitor numbers and business volume.
• Consumer Confidence: The Consumer Confidence Index reached 76 points at the end of 2025, continuing a positive trend observed over the past two years.
• Expected GDP Growth for 2026: The national GDP growth is projected to be around 2%, still above the European average.

Investment Trends in the Retail Sector

• Total Investment in 2025: The retail sector in Spain saw a total investment of €2,365 million, with €748 million invested in the fourth quarter alone.
• Investment by Segment:
  • Shopping Centers: Accounted for 65% of total retail investment, continuing their dominance from 2024.
  • High Street Retail: Contributed 20% of the total investment.
  • Retail Parks: Represented 11% of the annual total.
  • Supermarkets: Accounted for 6% of the investment.
• Investment by Location:
  • Madrid: Captured over 40% of the sector's investment.
  • Valencia: Accounted for approximately 25% of the total investment.

Notable Transactions in Q4 2025

• €250 M | Parque Corredor, Torrejón de Ardoz (Madrid): Acquired by CBRE IM from Redevco y Ares. Capital value: €2,033/sq m.
• €104.2 M | Retail Park Abadia, Toledo (Castilla La Mancha): Purchased by Redevco from HLRE Socimi. Capital value: €1,930/sq m.
• €70 M | CC The Outles Stores, San Vicente de Raspeig (Alicante): Acquired by Via Outlets from UBS. Capital value: €2,000/sq m.

Prime Yields in Spain (Q4 2025)

• Shopping Centers: Prime yields declined slightly to 6.50%.
• High Street Retail: Prime yields also declined to 3.60%.
• Retail Parks: Prime yields remained stable at 6%.

European Comparative Data

• Paris: Shopping center yields at 6.00% (Q3 2025 data), Retail parks at 6.50%, High street at 4.25%.
• Dublin: Shopping center yields at 7.50%, Retail parks at 6.50%, High street at 5.00% (downward trend).
• Prague: Shopping center yields at 5.75%, Retail parks at 5.75%, High street at 4.25% (downward trend).

Summary of Main Points

• Spain's economy showed strong performance in 2025 with a GDP growth of 2.9%, outperforming the European average.
• The tourism sector played a crucial role, with 97 million tourists and a 3.2% increase in business volume.
• Consumer confidence remained positive, reaching 76 points.
• The retail sector attracted significant investment, totaling €2,365 million in 2025, with shopping centers leading the way.
• Madrid and Valencia were the top investment regions.
• Prime yields for shopping centers and high street retail declined slightly, while retail parks remained stable.

Conclusion

The retail sector in Spain demonstrated resilience and growth in 2025, supported by robust tourism and strong investment. Despite some yield declines, the market remains attractive, with Madrid and Valencia as key hubs. The outlook for 2026 remains positive, with continued GDP growth expected.