Barcelona’s Prime Retail Streets Near Full Capacity as Global Brands Move In

Barcelona’s most exclusive commercial districts, known as the high street, are seeing a rapid turnover of tenants as demand from operators and a rebound in tourism fuel a dynamic leasing market. Fashion and sports brands were the main drivers of new contracts signed between the first and third quarters of last year, according to data from consultancy JLL.

On Passeig de Gràcia and Portal de l’Àngel, the city’s prime retail arteries alongside Avinguda Diagonal, these two categories accounted for more than half of all major openings. The intense activity has pushed occupancy rates to near-total levels, attracting significant investor interest.

“Barcelona’s most iconic streets are a primary target for both national and international brands, with the latter leading the way with 70% of new openings, resulting in near-total occupancy rates and significant investor interest. Fashion and accessories, sportswear, and luxury continue to be the dominant sectors,” detailed sources at the consultancy.

Passeig de Gràcia continues to solidify its status as a luxury hub, attracting high-end brands targeting affluent consumers. Prime rents on the modernist boulevard are among the highest in Spain, reaching €269 per square meter per month, surpassing even Madrid’s Serrano street. “Demand for space is so high that the vacancy rate is very low, at around 3%,” JLL analysts noted. This combination of high occupancy and lucrative rents makes the area a safe haven for investors seeking stable returns, with landlords confident that any vacant space will be leased quickly.

Recent additions reinforcing the street’s luxury profile include high-end jewelers Chaumet and Carrera y Carrera. Other significant openings during the period include Weekend Maxmara, a nearly 2,000-square-meter Hugo Boss flagship in the former Banca Catalana headquarters, Onitsuka Tiger, a Primor store exceeding 1,000 square meters, and Torrons Vicens. The Big Mamma group also opened its Circolo Popolare restaurant, styled as a classic trattoria.

Meanwhile, the pedestrianized Portal de l’Àngel remains a magnet for international brands catering to a younger, more dynamic urban demographic. Strong demand has pushed its availability rate down to around 2%. Newcomers between January and September of last year include Legit, which replaced an Ulanka store; New Balance, which took over a former AW Lab location; and New Era, which moved into a space previously occupied by Rituals, a brand that has since relocated to Passeig de Gràcia.

Several other major commercial deals are reshaping the areas surrounding these prime locations. Fnac is opening a new store on Las Ramblas, ceding its large space in the El Triangle shopping center to MediaMarkt. Additionally, investment fund AX Partners is planning a major renovation of the Palau Castanyer.