Access key retailer activity dynamics.
Key points for the retail property rental market in the first half of 2024 :
- Fashion brands in the lead: Fashion remains the most dynamic sector, capturing almost 40% of retail space let in Europe. Brands such as JD Sports, as well as Inditex and Calzedonia, are strengthening their presence in the retail property market.
- Growth in travel-related retailers: The upturn in tourism in Europe has boosted retailers specialising in luggage and travel accessories, with players such as Tumi and Delsey benefiting from the increase in traveller flows.
- Dominance of small units: Transactions involving retail units of less than 200 m² account for more than 50% of overall volume, a strong trend in the retail rental market.
Retail rents in Europe:
Rents in retail parks recorded a 9% increase on December 2018 levels. In addition, town centres and shopping centres are showing stable or slightly higher rents, reflecting the resilience of the retail property market.
Outlook for the retail rental market:
Despite a still uncertain economic environment, consumer and retailer confidence is gradually improving. Retailers continue to adapt their strategies to deliver a better in-store customer experience, consolidating their presence in key European markets.
Christian Dubois, Head of Retail Services France, comments: The upturn in tourism, combined with the momentum of the Paris Olympics, is boosting the rental market for small surface areas, particularly in the sports, leather goods and travel goods sectors. We expect this trend to continue from 2025 onwards.
Download the full Retail Brand Barometer report to find out more about the European retail rental market in the first half of 2024.
