The health emergency has interrupted the resumption of housing transactions that have been developing since 2013 in the Basque Country. In total, 25,047 homes have been sold in the Basque Country in 2020. This is 3,257 homes less than a year earlier (-11.5%). On the contrary, the decline in commercial transactions has been limited to Hego Euskal Herria. In Ipar Euskal Herria, compared to the previous year, the sale and purchase of housing increased by 44.8% in the same year. The increase in transactions has occurred mainly in the Basque Coast (CAV), Aturri, Lapurdi and Errobi area.

In Biarritz costs €6,489 per square metre

The most expensive property for sale in the Basque Country is located in Biarritz: EUR 6,489 per square metre on average. Together with Biarritz, Angelu (EUR 4,800/m2), ^Donostia-San Sebastián (EUR 3,737/m2), Baiona (EUR ^3,383/m2), Getxo (EUR 2,994/m2), Leioa (EUR ^2,611/m2) and Bilbao (EUR 2,510/m2) are ^the most expensive areas in the ^Basque country (2020). These data come from the study of the price of housing in the Basque capital and in the municipalities of more than 25,000 inhabitants. There is no data for municipalities of Hego Euskal Herria with less than 25,000 inhabitants. In the case of the Northern Basque Country, the increase in the housing of Zuraide, Getaria, San Juan de Luz, Bidar and Ziburu stands out, as in all cases the square meter costs more than 4,800 euros.

The largest municipalities in the Basque Country include Tudela (EUR 1,000/m2), Maule-Lextarre (EUR 1,233/m2), Eibar (EUR 1,566/m2) and Sestao (EUR 1,683/m2). Next to Maule-Lextarre, Pamplona is the capital with the lowest price of housing (1,848 euros/m2). With the exception of Eibar and Maule-Lextarre, since 2017 the price of housing has been increasing and the price increase has been significant in Donibane Garazi, Biarritz, Angelu, Baiona, Leioa and Pamplona. Compared to 2020, in the first quarter of 2021 there has been a slight decrease in the prices of housing in Durango, Leioa and Santurtzi, although in Iparralde the tendency to increase is maintained.

Biarritz and Donostia-San Sebastián have the most expensive rental home price

15.2% of the homes for sustainable use in the Basque Country are for rent (2020). The European Union average doubles this figure. The situation, however, is not the same for both sides of the general classification. The rental housing represents 38.7% of the park of Ipar Euskal Herria (2017). In Hego Euskal Herria this figure stands at 12.3% (2020).

In the years following the 2008 crisis, the contraction of housing transactions led to the increase in rented housing. Prices then stabilized and since 2017 prices have risen sharply. Thus, from the point of view of monthly spending, since 2014 it is cheaper to buy a home mortgaged in property than to live in rent.

The most expensive rental house in the Basque Country is also located in Biarritz: the square meter costs an average of 15.5 euros per month. The most expensive home rental in Hego Euskal Herria is located in Donostia-San Sebastián (14.6 euros/m2 per month). In early 2018, Getxo was the most expensive municipality in Hego Euskal Herria with more than 25,000 inhabitants, but since then Donostia-San Sebastián has been ahead. Besides in Biarritz and Donostia-San Sebastian, the most expensive rental homes of Euskal Herria are in Baiona (13.8€), Angelu (13.8€), Bilbao (12.3€), Getxo (11.7€) and Leioa (11.5€). On the contrary, Rioja Alavesa, Aiaraldea and Arratia have the cheapest average rentals of the CAV.

Used homes for sale in Hego Euskal Herria

In Hego Euskal Herria there are changes in the type of housing that has been sold in recent years. 80.6% of the homes sold in 2020 have been second-hand dwellings, when in the 2007/2010 period half of the total dwellings were dwellings. In fact, the average number of new homes completed in that period nearly tripled by 2020. On the other hand, the official housing units represent 13.2% of the total of the purchases of houses in Hego Euskal Herria. In any case, there are differences in terms of territory: official housing accounts for one third of the purchases of houses in Álava (33.2%). In Gipuzkoa, on the other hand, 7.6% of the housing purchases occurred.

The volume of mortgages for the sale of dwellings, as opposed to the sale of dwellings, decreased very little in 2020. In Hego Euskal Herria, 23,208 mortgages have been signed, a decrease of 1.1% compared to a year earlier. In other words, sales of non-mortgage dwellings have been drastically reduced. Likewise, the average mortgage amount for the purchase of housing has been increasing since 2014, and in 2020, the average of the mortgages constituted is EUR 142,400. Despite the increase in the amount of mortgages, it remains far from the 2007 average (EUR 160,700). In 2020, the citizens of Hego Euskal Herria have signed a debt of 3,304.4 million euros with banks or other entities to be able to access a housing. Despite being a large amount, it is far from EUR 8,563 million in 2006.