Only one vacant unit and rents of up to 300 euros per square metre: Malaga's famous Calle Larios is more desirable than ever

International tourism continues to drive commercial activity in the centre of Malaga, particularly on its most iconic street, Marqués de Larios. According to the latest report by consultancy firms Gesvalt and aRetail, the occupancy rate of Calle Larios is 98.1%, which means that there is only one spot available for a new establishment. What remains to be achieved is an attractive offer for the luxury sector.

Among the 53 businesses set up on Calle Larios, the most significant are those associated with fashion, which accounted for 31.5% of the total, followed by cosmetics (13%). Then come the restaurant and jewellery sectors, which occupy 11.1% and 9.3%, respectively. In fifth place are businesses dedicated to services (7.4%), leaving 25.9% for premises of other types.

Rent varies, depending on the total surface area of the premises. If it exceeds 500 square metres, the price is between 105 and 115 euros per square metre. In premises of between 301 and 500 square metres, the price per month is between 120 and 150 euros per square metre. When the surface area is between 101 and 300 square metres, the rent is between 200 and 250. Finally, in premises of less than 100 square metres, the price is between 260 and 300.

Gesvalt and aRetail forecast a "stable growth trend" for Calle Larios, considering its economic and demographic dynamism and its ability to attract international visitors. The professional meetings segment has also boosted tourism and retail in the Costa del Sol capital. In the first half of the year, almost 350 conferences and trade fairs were held, 75% above the figure for 2022. These events have contributed to the deseasonalisation of tourism and generated a strong economic impact throughout the year.