The real estate market in Bilbao is experiencing a truly historic moment. In December 2025, the price per square meter soared to a staggering €3,893. Over the year, housing prices rose by 11.5%, and nearly 5% in the last quarter alone. This isn’t just another spike—Bilbao has secured its place among the country’s most expensive cities, surpassing even the capital and major coastal metropolises.
To put this in perspective, the average price per square meter in Spain currently stands at €2,639, with annual growth nationwide at 16.2%. Yet even against this backdrop, Bilbao stands out: housing here is 47% more expensive than the national average. The city has firmly established itself as a premium market, where owning an apartment is increasingly out of reach for most people.
District contrasts
Within Bilbao itself, the gap between neighborhoods is striking. Abando – Albia and Indautxu confidently lead the way, with prices exceeding €5,100 per square meter. Even in Deusto, prices have surpassed €4,000. In these quarters, property values have risen by 6–9% over the past year, and demand shows no sign of slowing.
However, not everything is so straightforward. In Otxarkoaga – Txurdinaga, property prices have dropped by 6.6%, now standing at €2,778 per square meter. It’s the only district showing a decrease. Meanwhile, prices in Ibaiondo and Begoña – Santutxu have jumped by 9.7% and 15.1% respectively, yet still remain lower than in the city center.
Records and exceptions
In December, several districts of Bilbao hit new all-time highs. Abando — Albia, Indautxu, Rekalde, and Uribarri are now officially the most expensive areas on record. Uribarri stands out in particular: here, property prices have jumped by 18.6% over the year — the highest increase among all city neighborhoods.
At the same time, the gap between upscale and more affordable areas continues to widen. While prices in the city center exceed €5,100 per square meter, offers on the outskirts can be found for less than €2,800. This disparity is pushing many to look for alternatives outside the city or to opt for renting instead of buying.
Trends and forecasts
Experts note that demand for housing in Bilbao remains consistently high despite rising prices. The reasons are limited supply, the city’s appeal to investors, and a general sense of investment security. Meanwhile, more and more families and young professionals are finding it impossible to purchase a home, even in remote neighborhoods.
Analysts do not expect prices to drop sharply in the coming months. On the contrary, if the economic situation does not change, Bilbao may continue setting new records. The real question is who will be able to afford to live in a city where the price per square meter exceeds that of most European capitals.
A market with no brakes
While authorities debate measures to curb prices, the market continues at its own pace. Investors are still snapping up properties in central districts, and more locals are considering moving to neighboring towns. For those who already own real estate in Bilbao, however, the situation is a cause for celebration: their assets are appreciating faster than anywhere else in Spain.
The situation in Bilbao clearly shows how local factors can completely reshape the real estate market landscape. Familiar rules simply don’t apply here: even with nationwide growth, it’s Bilbao that sets the tone and dictates its own terms.
RUSSPAIN reminds readers that idealista is Spain’s largest online platform for buying and renting property. Operating since 2000, the service is considered one of the most authoritative sources for housing market analytics in Spain. The company regularly publishes detailed reports on prices, trends, and demand across various regions, helping buyers and sellers track changes and make informed decisions.
Previously, we reported that Gijón saw record-breaking increases in housing prices in November 2025. For many, the city center is now out of reach, and prices are surprising even seasoned analysts. To find out which neighborhoods are leading the way, read our previous report.
