Rents on Malaga's Calle Larios hit new record: 30,000 euros per month for 100 square metres

Rents on Calle Marqués de Larios in Malaga have reached an unprecedented level: 300 euros per square metre per month, starting from 240 euros. This equates to a price of 30,000 euros per month for a 100-square-metre space.

"Calle Marqués de Larios remains, for another year, among the elite of the country's major commercial thoroughfares," the latest report by aRetail and Gesvalt says. According to the study, there has been a 10% increase in prices over the past year.

"Larios is one of the areas with the highest rents and lowest availability of commercial premises in Spain. It is trading at record highs, driven by the unstoppable tourism boom, the growth of the resident population and Malaga's positioning as a cultural, technological and gastronomic destination," the report says.

Larios's recognition as a commercial icon translates into a 98% occupancy rate, with only one of the 53 units vacant. "The appeal of this thoroughfare, with its constant pedestrian traffic and strong tourist presence, consolidates it as the leading destination for national and international brands."

For premises of more than 100 square metres, the rent ranges from 200-250 euros per square metre per month (from 101 to 300 square metres); from 120-150 euros per square metre per month (from 301 to 500 square metres); and from 105-115 euros per square metre per month (from 501 to 1,000 square metres). For very large spaces, above 1,000 square metres, rents range from 70-90 euros per square metre per month.

Larios's retail mix is led by fashion (45%), followed by other retail (19%), cosmetics (14%), restaurants (11%) and services (9%). Within the fashion segment, jewellery and watch shops stand out, representing 11% of the total.

Calle Nueva is gradually consolidating its position as an alternative to Calle Larios and a leading retail hub, with a clear improvement in its tenant mix, a greater presence of established brands and positive trends in both rents and occupancy. "For retailers seeking visibility in the heart of the city, it is the most attractive option after Calle Larios," the report states.

Plaza de la Constitución stands out as Malaga's most premium location - an iconic and ideal spot for flagship stores and unique businesses.

Alameda Principal is experiencing "a period of significant transformation and is emerging as one of the areas with the greatest growth potential, especially for restaurants and leisure". Its urban renewal and strategic connection between the historic centre and the seafront are fostering the arrival of new gastronomic offers and brands.

Malaga is a target of commercial investor interest. For brands, Calle Larios is the first choice for investment. However, there have been no documented transactions on this street for years, as it is essentially divided among four owners who have no intention of selling. Therefore, investor interest is shifting to other streets such as Alameda Principal, the seafront promenade and the Soho district.