Investors Focus on Shopping Centres and Retail Premises in 2024
19 August 2024 - Valencia, one of Spain's most dynamic cities, is seeing a remarkable renaissance in its retail sector during 2024. After a period of uncertainty, shopping centres and commercial premises in this city are attracting the attention of investors, thanks to a combination of economic recovery, increased tourism and the resurgence of local consumption.
Valencia: A Retail Investment Magnet
The real estate market in Valencia has shown a strong upturn, with particular interest in key commercial areas such as the historic centre, Avenida de Francia and the City of Arts and Sciences. These locations, known for their high foot traffic and tourist appeal, are experiencing an increase in demand for commercial space. Well-located premises and shopping centres adapted to new consumer trends are reporting significant increases in rents, which has attracted the attention of both national and international investors.
Factors Driving Growth in Valencia
The growth of tourism in Valencia, driven by its favourable climate and renowned cultural events, is generating a steady flow of visitors that revitalise the local economy. In addition, the boom in shopping tourism, combined with consumers' growing preference for physical experiences, is benefiting shopping centres and venues in strategic areas of the city.
Investors are identifying opportunities in shopping centres such as Aqua Multiespacio and El Saler, which have implemented diversification strategies, combining retail with leisure and dining options, thus attracting a wider audience.
Adaptation and Future of Retail in Valencia
Despite competition with e-commerce, shopping centres in Valencia are evolving towards hybrid models that integrate the best of the online and physical experience. The trend towards shopping venues that offer unique and personalised experiences is helping to keep these spaces relevant. In addition, the region's economic recovery has allowed local consumers to return to spending, reinforcing the stability and attractiveness of retail investments.