The Passeig Born is at the heart of Palma's Golden Mile, so called because of the high prices for renting stores and the presence of brands that are the only ones which can afford these rents. These aren't exclusively international brands, but many are.
The interest in shops on the Born and on the C. Sant Miquel has spread due to the lack of available premises. According to a report by the Palma-based firm Gesvalt, which specialises in commercial properties, neighbouring streets are gaining prominence as alternatives for the large international companies and for investors.
The report states: "The layout of the Born area limits the availability of large premises. This is forcing investors to look for nearby alternatives such as Jaume III, especially at its intersection with the Born."
Over the past ten years, the Born and Sant Miquel have evolved in different ways. In 2014, the Born was consolidating its position as the city's main commercial hub, with rents for small premises around €100-€130 per square metre. On Sant Miquel, the rents were between €80 and €110 per square metre.
By 2025, the prices for the Born had shot up to a peak of €220 per square metre. The increase for Sant Miquel was less spectacular but over 20% nevertheless - up to €135 per square metre.
In its report, Gesvalt highlights Palma's advantages as an investment destination: "It has consolidated year-round commercial and hospitality activity. Palma is confirming its position as one of the most sought-after commercial destinations in the Mediterranean, especially for leading international luxury brands and real estate investment. All of this has put pressure on the city's traditional commercial areas, leading to saturation."