Retail space is consolidating as a strategic asset for investors in Barcelona

The commercial premises have consolidated as a strategic asset for investors in Barcelona during the first half of 2025, according to the Market Report for Commercial Premises in Barcelona H1 2025, prepared by FORCADELL.

The analysis highlights that, during this period, the commercial premises market has maintained steady growth, confirming the recovery that began in the second half of 2024. In this context, leasing and investment activity has intensified, driven by more specialized demand, greater geographical diversification, and the repositioning of the premises as a key element within the city’s urban and commercial fabric.

The supply of commercial premises has increased by 4.2% compared to 2024, but the market remains highly segmented. In the main commercial arteries, such as Passeig de Gràcia and Portal de l’Àngel, availability remains below 3%, with almost no turnover. In contrast, neighborhoods such as Sant Andreu or Sants-Montjuïc show availability close to 12%, although many of these premises require significant adaptation to meet current market demands.

Investment is focused on stable assets and repositioning

Therefore, as the FORCADELL report points out, commercial premises have gained prominence as an investment alternative. The market continues to show strong interest in properties occupied by solvent tenants with long-term leases, ensuring income stability.

At the same time, private investors and asset management firms are showing growing interest in premises that require renovation or repositioning, especially in secondary locations or medium-sized cities. This trend suggests a more active value-creation strategy, seeking transformation opportunities.

Jordi Fandos, Director of the Retail Department at FORCADELL, emphasizes that “investors are being more selective, but also more proactive. They are no longer only looking for prime locations, but for assets with potential to generate value through repositioning. This explains the growing interest in premises outside of traditional hubs.”

More specialized demand and new formats

The analysis also shows that the demand for commercial premises has been led by value-added food and beverage businesses (56%), followed by food (16%), and fashion and accessories (15%).

In addition, the rise of quick commerce, ultra-fast deliveries, and e-commerce has driven new uses for physical premises, such as urban micro-warehouses or last-mile logistics points, expanding the strategic role of commercial premises within the retail value chain.

Regarding rents, the main commercial axes have surpassed pre-pandemic rent levels. Passeig de Gràcia reaffirms its position as the luxury axis in Barcelona, while Portal de l’Àngel maintains its leadership in pedestrian traffic and appeal to mass consumer brands. The scarcity of supply and high demand consolidate these areas as highly competitive zones.