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

Palma de MallorcaSpain

City not ranked

City Overview

The island of Mallorca is the most important Spanish island in the Mediterranean and has a population of around 850,000 residents. The island is an extremely popular tourist destination and receives around 13.5 million visitors a year, 85% of which are foreigners, above all Germans and British. Palma de Mallorca is by far the most important city of the island, totalling around 400,000 inhabitants in the municipality and 600,000 in the wider urban area. It houses the majority of economic activity including the port and the airport, which happens to be the 3rd busiest airport in Spain. More than half of the population now works in the tourism sector, which accounts for approximately 80% of Mallorca’s GDP.

The retail offer in Palma comprises a strong high street retail offer in the city centre and a very limited number of shopping centres. The retail legislation in the Balearic Islands historically has been very restrictive and shopping centre development has been much weaker than in other areas of Spain. In fact, shopping centre density is among the lowest of Spain.  Commercial legislation also used to bar the entrance of big retailers, which was finally lifted in 2009. Since then there has been an increasing demand of Spanish and foreign brands to enter Palma and particularly the recent years after the crisis have been booming.

In high street, the most popular commercial streets are San Miguel and Alexandre Rosselló for mass market retailing. Jaime III, Unión or San Nicolás are other very popular streets targeting hip, urban, and often independent fashion. Paseo del Borne is the most prominent high-end luxury street. The only large shopping mall in Palma is Porto Pi Centro, which was built in 1995 and has scarce availability of units. In 2016, a new shopping centre, FAN Mallorca Shopping, opened in the nearby town of Coll d’En Rabassa, with a total GLA of 65,000 sqm. After that, the regional government recently approved a law suspending permissions for new retail developments during 3 years, and as a result other large projects (such as the Palma Springs scheme) are still paralysed. 

Things to do

See

Work

Porto Pi Centro, Borne, Jaime III, Unión, San Miguel, Alexandre Rosselló.

Rest

Cathedral, Plaza Mayor, Old town, La Lonja, Castillo de Bellver, Puerto Portals, Portitxol.

And be seen

Eat

Club Tast, Forn de Sant Joan, Poule Toquée, Flanigan, Drassana.


Drink

Cappuccino, Bar Bosch, Born 8.


Be Merry

Gin Bo, Nicolás, Garito, Pacha.


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