Only one vacant store and rents of up to 300 euros per square meter: Larios Street, more sought-after than ever

International tourism continues to act as a driving force for the commercial offerings in downtown Málaga, particularly on its most emblematic street, Marqués de Larios. According to the latest report by consulting firms Gesvalt and aRetail, the occupancy rate on Marqués de Larios street is 98.1%, leaving only one premises available. The authors of this study point out the pending task of attracting the luxury sector to the city’s main commercial streets.

Focusing specifically on Marqués de Larios street, among the 53 businesses located there, fashion stores stand out, representing 31.5% of the total, followed by 13% dedicated to cosmetics. Following these sectors are the restaurant and jewelry sectors, occupying 11.1% and 9.3% of the occupied premises, respectively. In fifth place are businesses dedicated to services, with 7.4%, leaving 25.9% for premises of other types.

Regarding rents, they vary depending on the total area of the premises. Premises larger than 500 square meters have a price ranging from 105 to 115 euros per square meter. For premises between 301 and 500 square meters, the price per month ranges from 120 to 150 euros per meter, for those with an area between 101 and 300 square meters, the rent is between 200 and 250, and finally, for premises under 100 square meters, the price ranges from 260 to 300.

Looking ahead, Gesvalt and aRetail's forecasts point to a "stable growth trend" based on its economic and demographic dynamism and the ability to attract international visitors. The professional meetings segment has also boosted tourism and retail in the city of Málaga. In the first half of the year, nearly 350 conferences, conventions, or fairs were held, a 75% increase over the 2022 figure. These events have contributed to the deseasonalization of tourism and generated a strong economic impact throughout the year, according to the report.