According to a ranking assembled by Engel & Völkers, the luxury real estate company, Avenida Pearson in Barcelona and Calle Hernani in San Sebastián are the most expensive streets in Spain. The company analyzed the five strongest retail Spanish cities (Barcelona, Madrid, San Sebastián, Bilbao and Valencia). Engel & Völkers wrote that the price per square meter per year in Calle Hernani is €12,700. This exceeds the most expensive properties in the Catalan capital by 6 percent, and the most exclusive addresses in Madrid by 27 percent. In third position in Engel & Völkers ranking is Calle Zubieta in San Sebastián, with a price per sqm of €11,500. Lack of retail space is behind the high price of assets for investors in Spanish retail property.
