Investing in Araba/Álava: 9 €/m²/month in rent and 4.1% gross yield
Buying in Araba/Álava costs 2,697 €/m² on average and renting goes for 9 €/m² a month, leaving a gross yield of 4.1% before costs and taxes. It is essentially the Spanish average (4.2%), with purchase prices above the Spanish average.
9 €/m²/monthRent90 m² home: €829/month
2,697 €/m²Purchase90 m² home: €242,730
4.1%Gross yieldAnnual rent over purchase price
62/100Momentum50 = flat market
The map
The map of Araba/Álava
Its municipalities, coloured by gross yield. Grey ones publish too little data.
Gross yield< 3%3–4 %4–5 %5–6 %≥ 6%sin datos
Administrative boundaries from the Spanish National Geographic Institute (CC BY 4.0). The Canary Islands are drawn shifted, as on any map of Spain.
The verdict
What the analysis sees
The specific signals the official data leaves about this market, before going into detail.
On gross yield it ranks 1 of 3 among the provinces of its region.
Araba/Álava has 342,161 residents, an approximate unemployment rate of 10% (below the Spanish average). These are signals of how deep housing demand runs, not of the risk of any one tenant.
In favour
Momentum 62/100Appraised prices, rents, transactions and population are all rising in the latest data.
8 properties analysedWe hold stock for sale here, each with its own investment score.
Against
No notable risks in the available data.
The market
What it costs and what it earns
The market level in Araba/Álava and what it means for a buy-to-let buyer. Per-m² figures are converted to a reference home of 90 m².
24.4 yearsPrice / Rent (PER)Years of rent to pay off the purchase
Within Araba/Álava municipalities sit on average 0% away from that figure: real dispersion between local markets, not the estimate's margin of error. Drill down to a municipality to see its own.
2,697 €/m²Purchase price
Spain 2,028 €/m²€/m² of transactions, population-weighted average
9 €/m²/monthRent
Spain 7 €/m²€/m² a month, population-weighted average
4.1%Gross yield
Spain 4.2%annual rent over purchase price, before costs
The comparison
Where it stands against the rest
Araba/Álava's percentile among the 52 provinces, computed on the same figure for all of them.
Gross yield4.1%
22
PeorMedianaMejor
Rent level9 €/m²/month
90
PeorMedianaMejor
Momentum62/100
86
PeorMedianaMejor
Within País Vasco it ranks 1 of 3 on gross yield.
The demand
Demand, employment and liquidity
The structural depth of the market: how many people live here, what they earn, how much changes hands and what stress it carries. This is market context, never a measure of tenant risk.
3.1Market turnover
Spain 3.3transactions a year per 1,000 residents · more turnover, easier to resell
10%Unemployment (approx.)
Spain 11%registered unemployed over unemployed + social security contributors
11.3‰Net migration
Spain 12.8‰arrivals minus departures from abroad per 1,000 residents
0.17Repossession pressure
Spain 0.55housing repossessions per 1,000 dwellings of the provincial stock · 2025
The risk
Housing repossessions
A figure the INE only publishes per province: how many urban dwellings end in repossession, against the total stock. It measures market stress, not tenant risk.
0.17Repossessions per 1,000 dwellings2025
3.1Market turnoverTransactions a year per 1,000 residents
51Municipalities in the provinceEach with its own guide
Inside Araba/Álava
The municipalities of Araba/Álava
The 40 most populated with their market level; the remaining 11 are linked below.
TerritoryPurchaseRentGross yieldMomentumAdverts
Vitoria-GasteizIn line with the Spanish average2,696 €/m²9 €/m²/month4.1%67/1004
Laudio/LlodioNo market level can be estimated———38/100—
Where each figure comes from, over which territory and from what date. Confidence measures data coverage, never investment quality.
Data coverage
90/100
Araba/Álava covers 51 municipalities. Every figure is computed by summing or population-weighting those municipalities, never by averaging their percentages.
official rent series (SERPAVI)1 of 51
series sufficient to measure momentum49 of 51
official appraised value (MIVAU)1 of 51
estimated market level1 of 51
our own adverts5 of 51
When each figure is from
For an aggregate we show the oldest figure from each source, since that is what limits how the whole can be read.
rent
2024
sale
2026Q1
official appraisal
2026Q1
population register
2025
registered transactions
2026Q1
registered unemployment
2026M06
MIVAUAppraised housing value and registered transactions
SERPAVIOfficial reference rent index
INEPopulation register, migration and repossessions
AEATAverage gross household income
SEPE and Social SecurityRegistered unemployment and contributions
CatastroCadastral value, age and IBI rate
InmobliaOur own catalogue of adverts, each with its investment score
An indicative statistical estimate for comparing markets, not an appraisal or an investment recommendation. Gross yield does not deduct costs, IBI, insurance, voids or taxes.
