_Record investment levels in Spanish retail market to continue
Retail Snapshot 3rd Quarter
The Consumer Confidence Index follows a positive trend during 2017, increasing the footfall and with a positive impact on the sales of the retail market. E-commerce continues to increase, generating opportunities and synergies with offline trade. In Spain, the turnover in 2016 exceeded €24,000m, and it is expected that 2017 will close at over €30,000m, 25% higher than the previous year.
"International retailers such as Victoria's Secret, Uniqlo or Tesla have chosen the Spanish market within their expansion strategies and at the end of 2017, we expect 4 new centres to open which will increase the total GLA of Spanish shopping centres to 180,000 sqm, at an average of 45,000 sqm per centre."
Retail investment (including shopping centres, retail parks and super / hypermarkets) up to the third quarter reached €2,400m, maintaining the record investment levels of the last three years.
While large shopping centre deals determined the course of the first part of the year, during the 3rd quarter the spotlight has been focused on retail parks and flagship stores. So far this year, the volume of investment in flagship in Spain is approaching €600 million. The yield compression trend continues: 4.25% in shopping centres, 5.5% in retail parks and 3% in high-street.
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