{"id":72264,"date":"2025-10-27T11:28:17","date_gmt":"2025-10-27T10:28:17","guid":{"rendered":"https:\/\/blog.urbanitae.com\/?p=72264"},"modified":"2025-10-27T14:25:43","modified_gmt":"2025-10-27T13:25:43","slug":"shopping-centers-and-their-effect-on-property-value","status":"publish","type":"post","link":"https:\/\/blog.urbanitae.com\/en\/2025\/10\/27\/shopping-centers-and-their-effect-on-property-value\/","title":{"rendered":"Shopping Centers and Their Effect on Property Value"},"content":{"rendered":"\n

The economic landscape, and especially the real estate sector, is currently in a recovery phase following the pause caused by the pandemic. Within this context, the retail sector has been one of the best at rebounding, with a 45% year-on-year increase in investment volumes<\/strong> according to CBRE\u2019s Q2 2025 report<\/a>. After years marked by competition from e-commerce and declining foot traffic in physical stores, consumption has picked up, and shopping centers are returning to activity levels close to pre-pandemic times.<\/p>\n\n\n\n

The commercial sector is a driver of the national economy, contributing over \u20ac15.3 billion to GDP<\/strong>, around 1% of the total<\/strong>, and generating, according to the Spanish Association of Shopping Centers (AECC), 885,613 jobs through 589 shopping centers and retail parks<\/strong>. These numbers are expected to grow in the last quarter of the year with 10 new openings forecasted<\/strong>: six in Andalusia, one in the Valencian Community, one in Asturias, one in the Region of Murcia, and another in the Canary Islands, specifically in Tenerife. The sector\u2019s importance to the country\u2019s productive fabric is clear. However, its influence is not limited to this\u2014it also impacts real estate. But how exactly do shopping centers affect the value of nearby properties?<\/p>\n\n\n\n

The Impact of Shopping Centers on Surrounding Areas<\/h2>\n\n\n\n

Currently, shopping centers are usually built in rehabilitated urban areas (as part of urban regeneration projects to revitalize deteriorated zones), on large flat plots (to accommodate both the main building and parking areas), and especially in **suburban or urban sub-center areas, where land prices are more affordable than in city centers. In this sense, one direct consequence of building a shopping center is the increase in property values in the area.<\/strong><\/p>\n\n\n\n

Property prices are influenced not only by factors like size or quality, but also by location, and therefore the availability of nearby services: shopping, access to supermarkets, or nearby dining options without investing much time is one of the key attributes considered by those looking for a new home, whether for purchase or rental.<\/p>\n\n\n\n

This trend can be observed, for example, in Madrid, where several recent projects have transformed land values<\/a>. Two of the most popular shopping centers in the Community illustrate this: Oasiz, located in Torrej\u00f3n de Ardoz, and X-Madrid, in central Alcorc\u00f3n.<\/p>\n\n\n\n

At the end of 2021, the Oasiz shopping center in the Soto de Henares neighborhood (Torrej\u00f3n de Ardoz), 33.6 km from Madrid, opened its doors. That same year, the average price per square meter was \u20ac1,830 according to Fotocasa<\/a>. In the months following the center\u2019s launch, the area began to experience a sustained price increase, reaching \u20ac2,252\/m\u00b2 currently.<\/p>\n\n\n\n

Another example is the X-Madrid shopping center, whose inauguration in 2019 marked a turning point for the surrounding area\u2019s property values. Located in the Parque Oeste neighborhood (Alcorc\u00f3n), 16.9 km from the capital, the price per square meter at the time was \u20ac2,687\/m\u00b2. Since its opening, housing prices have steadily increased, reaching \u20ac3,250\/m\u00b2 by the end of 2024.<\/p>\n\n\n\n

This upward trend in prices reflects a nationwide pattern and is not solely due to a single factor. However, according to market consensus, the presence of shopping complexes does contribute to property value increases<\/strong> and can even act as a catalyst influencing new developments. The reasons are varied:<\/p>\n\n\n\n