Passeig de Gràcia retail rents have reached €3,420 per square metre annually, cementing its position as Spain’s most expensive shopping street for the fourth consecutive year.
According to the Global Main Streets Across the World report by Cushman & Wakefield, the iconic Barcelona boulevard has seen an 8% increase compared to 2024 figures.
The prestigious thoroughfare has also climbed in global rankings, now occupying the 16th position worldwide among premium retail locations.
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Meanwhile, Madrid’s Calle Serrano follows closely behind with rents of €3,300 per square metre annually, while Gran Via de Madrid takes third place at €3,120.
Passeig de Gràcia Retail Dominance Continues
Portal de l’Àngel, another key Barcelona shopping destination, now shares fourth position with two Madrid streets after previously tying with Gran Via. The Barcelona avenue records rents of €3,060 per square metre annually alongside José Ortega y Gasset and Preciados in the Spanish capital.
Furthermore, several other Barcelona locations feature prominently in the national rankings. Calle Pelai appears in 11th position with €1,440 per square metre annually, while Avinguda Diagonal follows closely in 12th place at €1,200. Rambla de Catalunya and Portaferrissa complete Barcelona’s strong showing with rents of €1,140 and €1,080 respectively.
Rob Travers, director of EMEA Retail at Cushman & Wakefield, notes that occupying space on these premier streets now extends beyond luxury brands. “Increasingly, mass-market retailers are opting for prime locations because they offer visibility, constant foot traffic and consumer connection that’s difficult to achieve in other environments,” he explained.
The sustained premium positioning of Passeig de Gràcia reflects broader economic trends affecting the city. Consequently, this retail strength comes amid significant challenges in other sectors of Barcelona’s economy, particularly as Barcelona landlords flee the residential rental market due to regulatory pressures.
This retail resilience also contrasts with the city’s approach to commercial regulation. Additionally, Barcelona maintains its distinctive character despite tourism pressures, as evidenced by the city’s continued resistance to Sunday shop openings despite the tourism boom.
The comprehensive study analysed rental incomes across premium shopping streets in 92 cities worldwide. Therefore, Passeig de Gràcia’s consistent performance underscores Barcelona’s enduring appeal to international retailers and investors seeking prime European retail locations.
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