Facts and Figures The Graz retail market
Sales space city
175,400 sqm
Sales space per resident
0.61 sqm 190 sqm
Ø Shop size
Stage of expansion
36.7 %
Vacancy rate
4.1 %
Fluctuation rate
12.9 %
Source: Standort + Markt 2019/20
© Arsenie Krasnevsky / Shutterstock.com
The Graz Retail Market
On the other bank of the Mur beginning at Südtiroler Platz and along Annenstraße the retail locations are perceived as much less attractive, which is reflected in lower rents and a higher vacancy rate.
The economic strength of Graz is also reflected in the retail landscape. The city centre has 175,000 sqm of retail space, the second largest city-centre shopping zone after Vienna City. There are also good locations around the Jakominiplatz traffic hub and toward Kaiser-Josef- Platz. The most important frequency generator in the city centre is the long-established department store Kastner & Öhler, also the spacious underground car park built several years ago, which significantly eased the lack of parking spaces in the city centre and vitalised retailers to a considerable degree.
“Opportunities for locations in the core zone of Herrengasse, Hauptplatz, Sackstraße, Sportgasse”
Rents of up to EUR 100/sqm in top locations
Rents in top locations reach up to EUR 100/sqm, in secondary locations up to EUR 40/sqm. The vacancy rate in the city centre had risen slightly even before corona and was 4.1 percent in Q1 2020. Since then, a few more vacancies have been added. This development will bring movement into the market, and the otherwise minimal fluctuation rate is expected to increase significantly. Thus in 2021 new opportunities to open a new branch will arise in absolute prime locations such as Herrengasse, Hauptplatz, Sackstraße and Sporgasse. New additions of the last few months include the Scandinavian interior designer Bolia on Murgasse as well as Rituals and Dunkin’ Donuts, each on Herrengasse.
Graz Demography & Economy
With around 290,000 inhabitants, Graz is Austria’s second largest city. Purchasing power in Styria is EUR 23,623 per inhabitant. The favourable economic development and strong influx mean the percentage of population growth in Graz is even higher than in Vienna. By 2030 the population is forecast to increase to around 325,000. The extensive catchment area from southern Upper Styria via southern Burgenland to Eastern and Western Styria as well as the shopping tourism from northern Slovenia and Croatia are relevant for the retail market.
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