Investing in Bizkaia: 11 €/m²/month in rent and 4.1% gross yield
Buying in Bizkaia costs 3,182 €/m² on average and renting goes for 11 €/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.
11 €/m²/monthRent90 m² home: €969/month
3,182 €/m²Purchase90 m² home: €286,380
4.1%Gross yieldAnnual rent over purchase price
49/100Momentum50 = flat market
The map
The map of Bizkaia
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 2 of 3 among the provinces of its region.
Bizkaia has 1,166,816 residents, an approximate unemployment rate of 14% (above the Spanish average). These are signals of how deep housing demand runs, not of the risk of any one tenant.
In favour
61 properties analysedWe hold stock for sale here, each with its own investment score.
Approximate unemployment of 14%Above the Spanish average: this is market context, not a measure of tenant risk.
The market
What it costs and what it earns
The market level in Bizkaia and what it means for a buy-to-let buyer. Per-m² figures are converted to a reference home of 90 m².
24.6 yearsPrice / Rent (PER)Years of rent to pay off the purchase
Within Bizkaia municipalities sit on average 10% 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.
3,182 €/m²Purchase price
Spain 2,028 €/m²€/m² of transactions, population-weighted average
11 €/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 contrast
Expensive or profitable
Each municipality with enough data placed by what it costs to buy and what it earns. Top left is cheap and profitable; bottom right is expensive and earns little.
The comparison
Where it stands against the rest
Bizkaia's percentile among the 52 provinces, computed on the same figure for all of them.
Gross yield4.1%
14
PeorMedianaMejor
Rent level11 €/m²/month
96
PeorMedianaMejor
Momentum49/100
14
PeorMedianaMejor
Within País Vasco it ranks 2 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.
2.6Market turnover
Spain 3.3transactions a year per 1,000 residents · more turnover, easier to resell
14%Unemployment (approx.)
Spain 11%registered unemployed over unemployed + social security contributors
10.7‰Net migration
Spain 12.8‰arrivals minus departures from abroad per 1,000 residents
0.23Repossession 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.
0.23Repossessions per 1,000 dwellings2025
2.6Market turnoverTransactions a year per 1,000 residents
113Municipalities in the provinceEach with its own guide
Inside Bizkaia
The municipalities of Bizkaia
The 40 most populated with their market level; the remaining 73 are linked below.
TerritoryPurchaseRentGross yieldMomentumAdverts
BilbaoIn line with the Spanish average3,415 €/m²12 €/m²/month4.1%46/10030
BarakaldoIn line with the Spanish average2,876 €/m²10 €/m²/month4.4%52/1004
GetxoExpensive market relative to local income3,963 €/m²12 €/m²/month3.5%41/1001
SanturtziIn line with the Spanish average2,714 €/m²10 €/m²/month4.4%60/1002
PortugaleteIn line with the Spanish average2,822 €/m²10 €/m²/month4.3%65/1009
BasauriIn line with the Spanish average2,732 €/m²10 €/m²/month4.2%54/100—
LeioaIn line with the Spanish average3,488 €/m²11 €/m²/month3.7%45/100—
DurangoIn line with the Spanish average2,610 €/m²9 €/m²/month4.0%48/100—
SestaoYield above the average2,346 €/m²10 €/m²/month4.9%59/100—
GaldakaoIn line with the Spanish average2,902 €/m²9 €/m²/month3.6%59/100—
Where each figure comes from, over which territory and from what date. Confidence measures data coverage, never investment quality.
Data coverage
90/100
Bizkaia covers 113 municipalities. Every figure is computed by summing or population-weighting those municipalities, never by averaging their percentages.
official rent series (SERPAVI)10 of 113
series sufficient to measure momentum107 of 113
official appraised value (MIVAU)10 of 113
estimated market level10 of 113
our own adverts12 of 113
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.
