2025-02-10-莱坊-Spain_Retail_Snapshot_Q4_2024_2页_580kb

Retail Snapshot Summary - Q4 2024

Core Content

The Retail Snapshot report for Q4 2024 provides an overview of the current state and future expectations of the retail sector in Spain, highlighting key trends in tourism, GDP growth, retail turnover, consumer confidence, and investment activities.

Main Sector Indicators

• Tourism Sector:

  • Set a new record for international tourist arrivals in the first eleven months of 2024, with a 12% increase compared to 2019 levels.
  • Expected to continue growing in 2025.

• GDP Growth:

  • Spain's GDP growth closed 2024 at 2.9%, the highest in Europe.
  • Forecasted to grow by 2.1% in 2025, maintaining its position as one of the fastest-growing European economies.

• Retail Turnover:

  • Registered a 1% growth in November 2024, according to the National Statistics Institute (INE).

• Consumer Confidence Index:

  • Reached 80.6 points in November 2024, an increase of nearly 4 points from the same period in 2023.
  • Demonstrates a continued upward trend in consumer confidence.

Retail Investment in Spain

• Total Investment in 2024: Exceeded €2.77 billion, accounting for nearly 20% of total real estate investment.
• Growth Compared to 2023: Over 225% increase in investment volume.
• Q4 2024 Investment Volume: Surpassed €1.071 billion, a significant rise from €313 million in Q4 2023.
• Key Investment Deals:
  • Espai Gironés, Girona: Purchased by Lighthouse Properties for €168.2 million. Capital value: €3.657/sq m.
  • Carrefour Portfolio (6 hypermarkets): Acquired by Realty Income for €100 million. Capital value: n.d..
  • Retail Park Via Sabadell, Barcelona: Purchased by M Core and BN Capital for €43 million. Capital value: n.d..

Prime Yields in Madrid

• Shopping Centers: 8.50%
• Retail Parks: 6.75%
• High Street Retail: 4.25%
• These yields remained stable compared to the previous quarter.

European Prime Yields (Q3 2024)

• The data highlights stability or decline in prime yields across different European cities.

Key Takeaways

• The retail sector in Spain has shown resilience and strong fundamentals, even after overcoming challenges posed by the pandemic.
• Investor confidence remains high, with a significant increase in investment volume in 2024.
• Major transactions in shopping centers, retail parks, and high street retail have driven investment in Q4 2024.
• Consumer confidence and tourism growth are positive indicators for the future of the retail market in Spain.

Contact Information

• Tamara Sánchez
  Director, Head of Retail
  Email: tamara.sanchez@es.knightfrank.com
  Phone: +34 600 919 073

• Daniel Caprarin
  Head of Research, Marketing & PR
  Email: daniel.caprarin@es.knightfrank.com
  Phone: +34 600 919 087