The availability of premises is mainly concentrated in commercial and secondary areas.

It is worth noting the high level of availability in the El Corte Inglés-C.C. Larios area, which rose by 11% over the previous year. The prime area accounts for the lowest vacancy rate in the city due to the reduced rotation of brands.

Tenants and property owners are continually changing premises on high streets of Málaga.

During the year, there have been a total of 140 changes in retailer, 37 less than the previous year. Of this rotation, 7% corresponds to the Prime area, 11% to the Commercial central area, and 9% in the El Corte Inglés-C.C. Larios area, as well as in secondary locations.

Overall, rental prices in the Málaga market did not register significant variations in the last 12 months. Average rents in the Prime area only increased by 0.55% compared to the previous year, while rents remained stable in secondary locations. Both the Commercial central area and the El Corte Inglés-C.C Larios areas recorded negative variations, with -8.85% and -6.30%, respectively.

The highest rental values have fallen considerably compared to the previous year (2019), with rents on Calle Marqués de Larios standing at around €256 per sq m/month.

With respect to the previous year, average rents stabilized (0.55%) at €245 per sq m/month for Calle Marqués de Larios.

Availability by area
Annual comparison of average rents by zone
Rental comparison by zone

The increase in effort rates, together with stagnant sales, has been causing retailers difficulty in reaching rental levels, in the short term resulting in a clear drop of rental values. This situation could be aggravated by the effects of the health crisis.

In the first months of 2020, the investment market in the prime area registered its peak in the historical series. This has also translated into an increase in interest in the nearby areas.

Moreover, the health crisis has partly slowed down investment activity pending the recovery in spending and the other macroeconomic indicators in the short term.

Yield Comparison (%)
Latest brands to have launched in the city


  • Consolidation of Marques de Larios in the top 5 streets in Spain

  • Prime and secondary areas have become further polarised

  • Decrease in rents by up to 40% in secondary locations, and to a lesser extent, around 10% in the prime area

  • Increased use of turnover rents in the rental market

  • Investors focus on prime retail

  • Marques de Larios will better withstand the Covid-19 crisis. Drop in rent of about 10% compared to 2019

  • Approximately 40% decline in rent per sq m per month in secondary areas

  • 30% increase in availability in the surrounding areas of the prime zone

  • 4€40m transacted in retail investment in the prime area of Málaga in 2020

  • During 2020, an investment volume of €1,500 to 2,000m in traditional assets in Spain is forecast




70% drop in sales in fashion; 9% in supermarkets and grocery

Increased rotation of brands

Expansion plans for 2020 have been brought to a halt

Surge in relocations

30% increase in availability in secondary areas

Entry of new non-traditional retailers on high street

Longer periods of time to replace retailers with new occupiers

Greater investment activity in traditional assets (supermarkets, retail warehouses, etc)

Restructuring of business strategy and reduced number of shops

Upsurge in rent renegotiations

Increase in S&L transactions