Savills sees European prime shopping centre rents rising on low vacancies, limited new supply

XLRE•2026-09-10

European prime shopping centre rents seen rising

Savills flagged conditions for further prime shopping centre rent growth in Europe, citing rental rebasing, constrained supply and low vacancies.

Prime vacancy rates stood at 3.1% in one market and 1.3% in the other, supporting landlord pricing power.

European real retail sales are forecast to rise 1.3% in 2026, led by CEE, the Nordics, the UK and Iberia.

Aging demographics are expected to shift tenant demand toward health, F&B, leisure and services; drug stores and Health & Beauty are seen near 4% CAGR to 2030.

Shopping centres took 34% of European retail investment through H1 2026, while yield compression was led by Spain at 50 bps since Q4 2025.

Sources

Savills sees European prime shopping centre rents rising on low vacancies, limited new supply

Publicnow

Savills sees European prime shopping centre rents rising on low vacancies, limited new supply

European prime shopping centre rents seen rising

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Sources

Savills sees European prime shopping centre rents rising on low vacancies, limited new supply

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