Bilbao real estate market: analysis, prices and key factors for 2026

Bilbao consolidates a stable residential market

The Bilbao real estate market continues to show positive development, supported by demand for primary residences and balanced residential activity. The city is further consolidating its appeal thanks to its combination of central locations, services and a property supply capable of meeting the needs of different buyer profiles.

Unlike other markets where demand is concentrated in a single segment, Bilbao has a diversified market that combines primary residences, high-value transactions and growing interest in the city’s best-connected locations.

The increasing share of higher-value transactions confirms this trend and points towards a market in which location, property quality and the specific features of each home will continue to be decisive factors in the evolution of demand.

Property prices in Bilbao in 2025-2026: a market with differences depending on location

Property prices in Bilbao vary significantly from one area to another. While the most established neighbourhoods command some of the highest values in the city, the metropolitan area offers residential alternatives with different characteristics and price levels.

According to the 2025-2026 Annual Report prepared by our agents, the average price of transactions managed in Bilbao stands at around €3,800/m², with an average purchase price of approximately €575,000. However, location remains one of the main factors explaining differences in property values across the market.

Abando and the riverside area command the highest prices

Demand is concentrated in some of Bilbao’s most established areas, particularly Abando, Gran Vía, Colón de Larreategui and Lehendakari Leizaola, where proximity to the river, green spaces and a wide range of services strengthen their residential appeal. In these locations, the market reaches the highest values in the city, with transactions that can exceed €6,500/m².

The strength of these areas is also reflected in the highest-value segment, with transactions exceeding €1 million and some sales above €2 million, particularly for the highest-quality properties.

Getxo expands the residential offering in the metropolitan area

Although Bilbao accounts for a significant share of real estate activity, the analysis carried out by our agents identifies Getxo as one of the most established residential markets in the metropolitan area. Its residential character, proximity to the sea and strong presence of high-end housing make it an attractive alternative for buyers seeking more space and a more exclusive environment without giving up good connections to the city.

A mainly domestic buyer profile, with greater use of financing

The Bilbao real estate market continues to be led by domestic buyers, with demand mainly focused on purchasing primary residences. At the same time, the increase in financed transactions reflects higher activity levels and more dynamic access to the residential market.

Families remain the main buyer profile in Bilbao, with demand focused on spacious apartments of approximately 190 m² and three bedrooms. Beyond location, buyers particularly value generous living spaces and the quality of the urban environment, two factors that continue to shape the behaviour of Bilbao’s residential market.

This preference for spacious, well-located homes explains the strong activity in the city’s most established neighbourhoods and helps maintain stable demand for this type of property.

According to the data obtained by our agents, domestic buyers account for 90% of transactions, while international demand represents 10%, with a notable presence of clients from the United States, Russia and other European countries.

Another significant change during 2025 was the growing importance of bank financing. According to the report, 90% of property transactions were completed with a mortgage, compared with 10% financed using buyers’ own funds. This development reflects greater confidence in the market and more favourable financing conditions than in previous years.

Bilbao’s rental market continues to develop positively

In addition to property sales, Bilbao’s rental market remains particularly dynamic, driven by sustained demand and limited supply in the most attractive residential areas. Activity increased significantly during 2025, and forecasts indicate that this trend will continue over the coming months.

According to Engel & Völkers’ 2025-2026 Annual Report, the average rental price stands at around €17/m², although the best-located properties can reach values of up to €28/m². Demand is mainly concentrated in streets such as Lehendakari Leizaola, Cardenal Gardoqui and Henao, where proximity to services, green spaces and good transport connections supports high levels of activity.

The most sought-after properties are apartments of around 108 m², with two or three bedrooms, and buyers show a preference for homes with a terrace. The market is led by couples and domestic tenants, who account for 86% of transactions, while the remainder mainly consists of tenants from the United States and Russia.

What should buyers consider in Bilbao in 2026?

Buying a property in Bilbao means analysing a market where location, property type and the characteristics of each neighbourhood can have a decisive influence on the purchase. Before making a decision, it is advisable to consider the following key aspects:

• Assess the location based on your needs: Bilbao offers very different residential profiles depending on the neighbourhood, so it is worth considering proximity to services, public transport, green spaces and business or leisure areas.

• Compare similar properties: Beyond the asking price, it is important to evaluate aspects such as floor area, layout, condition and energy efficiency before making a decision.

• Review financing options: The growing share of mortgage-backed transactions reflects a market where access to suitable financing can make homeownership more accessible and broaden purchasing opportunities.

• Seek professional advice: Understanding the behaviour of each area and the realities of the local market helps identify opportunities and make more informed decisions.

What should sellers consider in Bilbao in 2026?

Demand remains strong for well-located properties that meet the needs of today’s buyers. In this context, a marketing strategy aligned with current market conditions is essential.

Some key aspects to consider include:

• Carry out an accurate market valuation: Location, size, condition and the property's features should all be reflected in the asking price.

• Highlight the property’s added value: Spaciousness, layout and location in established neighbourhoods are among the factors that most influence purchasing decisions.

• Develop a marketing strategy tailored to the buyer profile: Most demand is for primary residences, so it is important to present the property with this target audience in mind.

• Rely on up-to-date local market knowledge: Analysing the performance of each area and current demand trends allows the property to be positioned more competitively.

If you are thinking about buying or selling a property in Bilbao, working with professionals who have in-depth knowledge of the local market can help you develop a strategy tailored to your objectives and to the characteristics of each area.

Outlook for the Bilbao real estate market in 2026

The Bilbao real estate market enters the coming months on a solid footing, supported by stable demand and the city's continued appeal as a residential destination. The combination of a high-quality urban environment, excellent transport connections and a market focused primarily on primary residences will continue to underpin activity, particularly in the city’s most established neighbourhoods.

At the same time, the growing share of higher-value transactions and the complementary role of Getxo’s residential market further enhance the attractiveness of the metropolitan area for a wide range of buyer profiles.

The market’s future performance will largely depend on the ability of supply to meet demand, which continues to focus on Bilbao’s most established neighbourhoods and on properties that combine a prime location, quality and generous living space.

If you are planning to buy or sell a property in Bilbao, seeking advice from professionals with in-depth knowledge of the local market will help you understand the specific characteristics of each area and define a strategy aligned with your objectives.

Frequently asked questions about the Bilbao real estate market in 2026

What is the Bilbao real estate market like in 2026?

The Bilbao real estate market continues to perform strongly, driven mainly by demand for primary residences. Activity remains concentrated in the city’s most established neighbourhoods, where the quality of the urban environment, excellent transport links and a wide range of services continue to make these areas highly attractive.

What is the average property price in Bilbao in 2026?

According to Engel & Völkers’ Spain and Andorra Market Report 2025-2026, the average price of transactions managed in Bilbao is around €3,800/m², with an average purchase price of approximately €575,000. However, the final value varies depending on the location, property type and individual characteristics of each home.

Which areas of Bilbao have the highest demand?

Neighbourhoods such as Abando, the Gran Vía area, Colón de Larreategui and Lehendakari Leizaola are among the city’s most active residential locations. Their central location, proximity to the river, extensive services and excellent transport connections help maintain stable demand and some of the highest property values in the market.

How is Bilbao’s rental market evolving in 2026?

The rental market continues to perform positively, with an average rental price of €17/m² and particularly strong demand in the city’s best-connected areas. Limited supply remains one of the key factors shaping the market.

Who is buying property in Bilbao?

The market is led by domestic buyers, who account for 90% of the transactions managed by Engel & Völkers. International buyers represent the remaining 10%, mainly coming from the United States, Russia and other European countries. Most buyers are looking to purchase a primary residence.

Is 2026 a good time to buy or sell a property in Bilbao?

The answer depends on the needs and objectives of each buyer or property owner. Demand remains stable, particularly for well-located properties that meet current buyer preferences, making an accurate valuation and a good understanding of each neighbourhood essential factors for completing a successful transaction.