Stable footfall, good demand and in some cases slight upward trends in prime rents
At the end of June 2026, the German retail market can look back on a very dynamic first half of the year: With around 183 million visitors to the 25 most visited shopping streets[1], around the same number of potential customers were registered in the first six months as in the previous year (-0.8%). Against the background that the number of pedestrians in June was almost 3% lower than in 2025 and almost 2% higher in May, it can be said that the course of the year is normal fluctuations, which are particularly associated with the weather. On average, this results in around 7.32 million people per shopping street in the ranking of the top 25 shopping miles. The fact that visitors to German city locations have encountered many new and often international labels is shown by the latest figures from BNP Paribas Real Estate on the nationwide retail rental market.
Top half-year performance: with 238,000 m² above average and just below the previous year
In the first half of 2026, the retail market was once again able to confirm its currently very good demand impulses and once again record a high take-up of around 238,000 m². Even though the remarkable result from the same period of the previous year was not quite achieved (H1 2025: 251,000 m²; -5%), the retail division recorded an above-average half-year balance in terms of letting volume in inner-city locations (average since 2020: a good 228,000 m²). The main contributor to the strong previous year’s result was department store re-lettings, which generated a volume of almost 44,000 m² (17% proportionate) in the first two quarters of 2025 alone. However, around 26,000 m² (11% pro rata) have already been taken up in former Galeria and fashion department stores so far this year, underlining the continued high level of momentum in this segment.
US, Asian and Danish players dominate international deals
International retailers are also currently providing important impetus for the German retail market: almost 15 market entries have been registered since the beginning of the year, which is already more than in 2025 as a whole. These included the American providers of activewear Alo Yoga (Münzstraße in Berlin) and Yeti (Georg-Kronawitter-Platz in Munich) for outdoor equipment. Overall, brands from the USA form the second most active region of origin among international labels, with a share of 12% of deals, behind Danish brands (17% share) and just ahead of Asian players (10% share).
In addition to the registered market entries, however, there are also numerous brands that have pushed ahead with their expansion plans in the first six months. These include the three Asian brands Miniso, Pop Mart and UOUOROSE, the two Inditex concepts Bershka and Stradivarius, the best-selling brands Only & Sons and Name it, as well as the Dutch beauty company Skins Cosmetics.
The catering industry is also expansive: The companies with new locations include the three restaurant chains Burgermeister, 60 Seconds to Napoli and Goldies. Overall, the sector accounts for 22% of lettings and openings, while the fashion segment is represented by 28% of all deals. “This diversity of brands and concepts impressively demonstrates how broad the demand for the inner-city retail landscape from abroad is currently forming. The fact that many of these retailers are continuing to expand their branch network in a targeted manner shortly after entering the market can also be seen as an indicator of the good sales potential that international players see in German city locations,” says Christoph Scharf, Managing Director of BNP Paribas Real Estate GmbH and Head of Retail Services, summarising his current market assessment.
The upward trend in city locations is also confirmed by the development of prime rents: among the 115 shopping streets for which BNP Paribas Real Estate regularly charges prime rents in A and B cities (a total of 27 locations), there are now more top locations with slightly rising prime rents (9% of all streets) than shopping streets with falling values (7% of all streets). However, sideways movements can still be observed for most A locations (84% proportionately).
