Rental Prices in Bizkaia 2023
Rental price statistics in the province of Bizkaia - PAÍS VASCO
Ranking
#2 of 50 provinces
Variation 2023
+9.2%
Median rent (Collective housing)
14.20€/m²
Median amount/month
995.00€
Collective housing
2023
Median rent
14.20€/m²
Median amount
995.00€
Median area
70 m²
Contracts
18,000
Historical rent evolution
Price evolution
| Year | €/m² | €/month | Contracts | Variation |
|---|---|---|---|---|
| 2011 | 9.50 | 665.00 | 12,000 | - |
| 2012 | 9.20 | 645.00 | 11,000 | -3.2% |
| 2013 | 8.90 | 625.00 | 10,500 | -3.3% |
| 2014 | 8.80 | 615.00 | 11,000 | -1.1% |
| 2015 | 9.00 | 630.00 | 12,000 | +2.3% |
| 2016 | 9.40 | 660.00 | 13,000 | +4.4% |
| 2017 | 9.90 | 695.00 | 14,000 | +5.3% |
| 2018 | 10.50 | 735.00 | 15,000 | +6.1% |
| 2019 | 11.20 | 785.00 | 16,000 | +6.7% |
| 2020 | 11.50 | 805.00 | 14,000 | +2.7% |
| 2021 | 12.00 | 840.00 | 15,500 | +4.3% |
| 2022 | 13.00 | 910.00 | 17,000 | +8.3% |
| 2023 | 14.20 | 995.00 | 18,000 | +9.2% |
The rental housing market in Bizkaia, a province in the autonomous community of the Basque Country in Spain, has become a focal point for many prospective tenants and real estate investors alike. As of 2023, the average rent in Bizkaia stands at 14.2 €/m², reflecting not only the desirability of the region but also the increasing demand for rental properties. With an average monthly rent of 995 euros, Bizkaia holds the second position in price ranking among the 52 provinces in Spain, which underscores the competitive nature of its housing market. The considerable number of registered rental contracts, totaling around 18,000, illustrates a vibrant and active rental sector. This figure indicates a steady turnover and a growing interest in renting, particularly in urban centers like Bilbao, which is the provincial capital. The high number of rental agreements is indicative of a market that is appealing to both long-term residents and newcomers, including young professionals and families seeking the unique lifestyle that Bizkaia offers. When comparing Bizkaia to the broader regional and national contexts, the province's rental prices are notably higher than the Spanish average, which hovers around 11.5 €/m². This disparity reveals the attractiveness of Bizkaia as a prime location for both work and leisure, driven by its rich cultural heritage, strong economic sectors, and stunning natural landscape. Tenants in Bizkaia are often drawn by the quality of life and the high standard of living, which, while reflected in rental costs, is seen as a worthwhile investment. Additionally, the rental market in Bizkaia is characterized by its diversity in property types. From modern apartments in the heart of Bilbao to quaint homes in smaller towns, tenants have a range of options to suit their needs. However, the increasing rental prices may pose challenges for some segments of the population, particularly students and low-income families. This rising cost of living prompts discussions about housing policies and regulations that aim to ensure affordability and accessibility in the rental market. Looking ahead, the rental housing market in Bizkaia is expected to remain dynamic, influenced by factors such as economic growth, population trends, and shifts in housing preferences. As the demand for rental properties continues to outpace supply, prospective tenants may need to act quickly when they identify a suitable option. For landlords and real estate investors, this environment presents opportunities for growth and profit in a market that shows no signs of slowing down. In conclusion, Bizkaia's rental market is a complex but promising landscape. With its competitive prices and robust demand, it remains an attractive destination for tenants seeking quality housing. Understanding the nuances of this market will be essential for anyone looking to navigate the rental landscape in this vibrant province of Spain.