globe retail outlook data

 

  • Retail
  • Office
  • Log In
https://smg.cbre.com/images/default-source/default-album/header-image.jpg?sfvrsn=69c20d96_0

Retail By City

MadridSpain

city rank #12

City Overview

Madrid is the largest city of Spain with a population of 3.2 million inhabitants. It is surrounded by many commuter towns and its metropolitan area amounts to 6.3 Million residents, which makes it the third most important metropolitan area of Europe after London and Paris. Madrid’s economy is service-oriented and is the financial and business centre of Spain. Being the capital, both national, regional and local parliaments are settled in the city, as well as many related institutions, Embassies, etc. The city is furthermore an increasingly important tourist destination, ranking only behind Barcelona in number of visitors.

Together with Barcelona, Madrid disposes of the strongest retail structure of Spain. This is fuelled by its large number of inhabitants and their income levels, but also by the regional government, which is the country’s most liberal one as to retail development permits and opening hours.

The prime High Street offer of Madrid is located in the city centre and is divided between two areas. The main “mass market” offer is located in the historic and touristic heart of the city, with both calle Preciados and calle Gran Vía being the most important streets, with currently many operators opening flagship stores, such as Pull & Bear and Mango recently in Calle Preciados. Calle Fuencarral forms also part of this prime area, above all hosting small stores of trendy retailers targeting the fashion conscious public. On the south-side of calle Preciados, the Puerta del Sol square has grown stronger after the opening of the Apple store.

The luxury retail offer in Madrid is located in a separate area of the city centre, in the upscale “Barrio de Salamanca” and here particularly calle Serrano and calle Ortega y Gasset are demanded by international luxury retailers. Other streets in the area, such as Calle Jorge Juan, Calle Claudio Coello, Calle Ayala, Calle Lagasca and Calle Hermosilla, have developed a strong retail offer too, with many small-sized “premium” retailers opening stores. Furthermore, mass-market retailers are located in the area, above all in calle Serrano and calle Goya.

The region of Madrid hosts the largest number of shopping centres of all regions in Spain, representing approximately 20% of the total Spanish offer of shopping centres in Spain, and disposing of one the highest densities of shopping centres in the country. Most of the shopping centres are located in the outskirts of the city and in commuter towns in the surroundings. The most important schemes located within the municipality of Madrid are La Vaguada (located north-west in the city) Principe Pío (located at the south-west of the city centre), Islazul (located at the south city boundary), La Gavía (located at the south-east city boundary, and Plenilunio (located at the east city boundary).

Outside the city of Madrid there is a large additional offer of shopping centres, among which the main ones are Parquesur (Leganés, south), Madrid Xanadú (Arroyomolinos, south-east) and Megapark/Plaza Norte 2 (San Sebastián de los Reyes, north).

With the crisis left behind, new shopping centre projects are being announced in and around Madrid. Inside the city, two mixed-use schemes are being built in the city centre (Plaza Canalejas and Edificio de España, both of around 15,000 sqm GLA retail), as well as an office tower in the Office area of Madrid (Quinta Torre) with 12.000 smq retail in the ground floor area. Outside the city a large retail park is being developed in Torrejón de Ardoz (Open Sky, 75,000 sqm) along the A2 motorway which heads East.   

Things to do

See

Work

Go shopping in the Barrio de Salamanca, where all prime retailers are concentrated. Start in calle Goya and calle Serrano where you will find Zara, H&M, El Corte Inglés, etc. and finish in calle Ortega y Gasset where exclusive brands like Louis Vuitton, Gucci and Chanel are located.


Rest

Visit the magnificent Retiro park, a historic green area located in the heart of Madrid. In ancient times, it was owned by the Royal Family; yet a 150 years ago it has been opened to the public. The park includes a lake with rowing boats and a crystal palace.


And be seen

Eat

Eat out in the calle Cava Baja and surroundings that has one of the best concentrations of tapas bars in Madrid. Have dinner at the Casa Lucio for traditional Spanish food; try Casa Lucas or Txirimiri for more experimental tapas in a lively Spanish ambience.


Drink

Check out the revitalized TriBall area in downtown Madrid, the hippest exponent of its well-known night-life. New bars with original decorations are opened continuously; El Fabuloso, Kikekeller and Martínez are fine examples.


Be Merry

Catch a flamenco show at the Corral de la Morería, the venue with the best reputed “tablao” of Madrid. 


Other Cities in Spain

Contact Us

Rosa Madrid Racero
Edificio Castellana 200, planta 8
Paseo de la Castellana 202
+34 915981900 | rosa.madrid@cbre.com