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Where are the best places to invest in the Basque Country right now? Is Bilbao still the top pick, or are cities like San Sebastián, Vitoria-Gasteiz, and Getxo gaining ground? What makes these locations attractive to both local and foreign investors?
We’re often asked these questions because we work directly with notaries, real estate agents, and clients who invest across the region. Our firsthand experience in these markets gives us unique insights into where the real opportunities lie. To save everyone from asking privately, we’ve written this article to share our knowledge broadly.
Our goal is to highlight the hottest markets in the Basque Country and explain why they’re worth your attention in 2025.
If you have suggestions or want us to dive deeper into a specific area, let us know. You shoot an email, we answer within 24 hours.
1) Hondarribia is gaining popularity for its charming old town and scenic views, boosting property prices and rental yields
Hondarribia is gaining popularity due to its charming old town and breathtaking scenic views, which are significantly impacting property prices and rental yields. The town's historic essence, combined with modern design, makes properties here highly desirable. For instance, a beautifully renovated house in the old town, transformed into four duplex apartments, is listed for over €1.5 million, showcasing the blend of history and modernity that attracts investors.
Property prices in Hondarribia are projected to rise by 8.46% by 2025, with an annual increase of about 2.8%. This steady growth is driven by increasing demand and limited supply, making it a promising area for property investment. Additionally, rental prices have surged, reaching €13 per square meter per month by the end of 2024, reflecting a year-on-year increase of 10.2% due to the ongoing shortage of available properties.
The town's appeal is further enhanced by its growing number of tourists, drawn to its old town and scenic views. The Hondarribia Tourist Information Point attracts thousands of visitors annually, offering insights into the town's main attractions. Guided tours through the old town highlight its rich Basque history and stunning views of the Cantabrian Sea, adding to its allure.
Sources: Bric Group, Le Figaro Properties, Euskadi Tourism, Get Your Guide, Idealista
Here is a serene view of a luxurious property in Hondarribia, showcasing the area's unique blend of lush landscapes and high-value real estate that attracts both investors and residents. (Source: Barnes Cote Basque)
2) Zarautz is booming with demand for vacation rentals thanks to its stunning beaches and surfing culture
Zarautz is buzzing with real estate activity, thanks to its growing demand for vacation rentals.
The town's stunning beaches and lively surfing scene are major draws for tourists and investors. In 2024, property prices in Zarautz saw a 7.15% increase in apartment prices, signaling a rising interest in vacation homes. With 59 vacation rental listings on Casamundo, it's clear that visitors prefer these over traditional hotels.
Accessibility has improved with the local government's investment in infrastructure, like the new railway station and better links to Donostia. This makes Zarautz even more appealing to tourists. The town's reputation as a top surfing spot is bolstered by positive media coverage and social media buzz, where travelers share their beach and surf adventures.
Sources: Casamundo, Basque Transport Ministry, Engel & Völkers
We made this infographic to show you how property prices in Spain compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
3) Arrasate-Mondragón is attracting interest with its cooperative business model and economic stability, driving housing demand and property values
Arrasate-Mondragón is gaining attention for its cooperative business model and economic stability, which are boosting housing demand and property values. In 2023, Mondragon Corporation's employment numbers showed a slight increase, with an average workforce of 70,500 people. This rise in employment is a key factor in the region's economic stability.
Despite global challenges, Mondragon reported positive financial results for 2023, with EBITDA rising by 34.7% to €1.48 billion and net profit up by 33.85% to €593 million. This economic stability is likely contributing to rising property prices in the region. Additionally, the relocation of 518 workers within the cooperative group in 2023 has increased demand for housing, further boosting the local housing market.
The success of Mondragon’s cooperative business model has been widely reported, attracting more businesses and residents to the area. This media coverage, along with increased investment in local infrastructure and amenities, is drawing attention to Arrasate-Mondragón as a desirable place to live and work.
Sources: Tulankide, Mondragon Corporation Annual Report 2023, The News Coop
4) Vitoria-Gasteiz’s Salburua district is gaining interest for its modern housing and eco-friendly planning, promising property appreciation potential
Salburua, a district in Vitoria-Gasteiz, has been catching the eye of many due to its modern housing developments and eco-friendly urban planning. In the past couple of years, property prices in Vitoria-Gasteiz have been on the rise, reflecting a growing demand for housing. This trend is particularly noticeable in Salburua, where new homes and developments are selling quickly, indicating a vibrant and rising market.
The demand for housing in Salburua has surged, with several new listings and rapid sales of properties. In 2024, there were seven new homes and developments for sale, and more listings are expected as the district continues to attract buyers. This increased interest is partly due to the modern housing projects underway, such as Torre Optima Salburua, which offers properties with modern amenities and eco-friendly features.
Vitoria-Gasteiz is well-known for its commitment to sustainable urban planning, which includes various eco-friendly initiatives like the use of renewable energy sources. The city has also received significant funding from the EU for its sustainable urban development projects, further supporting its green initiatives. These efforts have not gone unnoticed, as the city has received international recognition for its sustainable urban planning, including awards like the European Green Capital and the Global Green City award.
Sources: Idealista, Pembina, SDG Localization
5) Irun is gaining interest for its border location with France, boosting cross-border commerce and real estate demand
Irun's prime spot on the French border has given a big boost to cross-border commerce.
With the Irun pipeline expanding by 66% to 3.5 billion cubic meters, it's now a key player in the European gas network, especially when winter hits. This makes Irun a vital hub for energy trade between Spain and France.
Thanks to its strategic location, Irun's real estate market is catching eyes. Property prices are climbing, making it a hot spot compared to other areas in the Basque Country. Its connectivity and appealing environment are drawing in both investors and new residents.
Irun's business scene is thriving with places like the FICOBA fairgrounds and the ZAISA logistics platform. These facilities cater to various business needs, encouraging commercial relations and product showcases. French businesses are setting up shop here, adding to the economic buzz.
All these factors are turning Irun into a magnet for cross-border commerce, with its economic growth fueled by French business interest. The city's infrastructure and strategic location are key to this success.
As more businesses and investors flock to Irun, the city is becoming a vibrant hub for cross-border economic activity, making it an attractive place for property buyers.
Sources: Hotel Alcazar, Knight Frank, AA
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6) Sopela is attracting interest for its coastal lifestyle and outdoor activities, boosting demand for rentals and property purchases
Sopela is becoming a hotspot for those seeking a coastal lifestyle and outdoor adventures.
With its population growing to 13,878 residents as of 2019, more people are drawn to Sopela's unique charm. The town's appeal is not just about the beach; it's about the vibrant community and the active lifestyle that comes with it.
The Basque Country's robust industry and the rise in residential construction are key factors. This means rental yields in Sopela are on the rise, making it a smart choice for investors and renters alike. The local economy is thriving, and new residential projects are popping up to meet the demand.
Social media and news outlets frequently showcase Sopela's outdoor activities, adding to its allure. Whether it's surfing, hiking, or just enjoying the scenic views, there's something for everyone. This buzz is driving more people to consider buying or renting in the area.
The local government is also playing a part by investing in infrastructure and amenities. These improvements are making Sopela even more attractive, supporting the increasing demand for properties and rentals.
For those looking to invest or settle down, Sopela offers a blend of natural beauty and modern conveniences. It's a place where you can enjoy the best of both worlds, with a community that's growing and thriving.
Sources: Wikipedia, CaixaBank Research
Here is a stunning view of Sopela's coastline, showcasing the golden beach and dramatic cliffs that attract outdoor enthusiasts and beach lovers alike (Source: Euskadi.eus)
7) Lekeitio is gaining attention for its historic charm and holiday home investment potential
Lekeitio is becoming a hot spot for property buyers thanks to its historic charm and potential for holiday homes.
In the Basque Country, property prices are climbing, and Lekeitio is no exception. This trend mirrors what's happening in places like the Lecrin Valley, where property values jumped by 4.5% in 2024. It's a sign that investing in Lekeitio could be a smart move.
Tourism is booming in Spain, with international visitors increasing by 14.8% year-on-year. These tourists are spending over €1,300 each, on average, which highlights Lekeitio's appeal. The town's natural beauty and historic sites make it a magnet for visitors, boosting the demand for holiday homes.
Local government initiatives are playing a big role in this trend. They're promoting tourism and property investment through infrastructure development and marketing campaigns. These efforts are putting Lekeitio on the map as a prime holiday destination, attracting both tourists and investors.
For those considering a property purchase, Lekeitio offers a unique blend of history and modern appeal. The town's historic charm, combined with its growing popularity, makes it an attractive option for holiday home investments.
With the Basque Country's property market on the rise, Lekeitio stands out as a promising location. Its combination of historic allure and investment potential is drawing attention from buyers looking for a slice of Spanish paradise.
Sources: CaixaBank Research, At Home in Andalucia
8) Bermeo is gaining interest for its picturesque harbor and tourism-related property investment potential
Bermeo is becoming a hotspot for buyers and investors, thanks to its charming harbor and the potential for tourism-related property investments. The town's picturesque setting, combined with its unique attractions like San Juan de Gaztelugatxe, makes it an appealing destination for tourists and investors alike.
In recent years, Spain has seen record tourism numbers, with 85.1 million international travelers visiting in 2023. The Basque region, where Bermeo is located, has also experienced significant growth in tourism. This trend suggests that Bermeo could benefit from the spillover of tourists exploring nearby popular areas like Bilbao and Gernika-Lumo.
Moreover, the real estate market in Bilbao, close to Bermeo, has shown consistent growth, with property values increasing by 3-5% annually. This growth indicates a strong demand for properties, which could extend to Bermeo, especially as new coastal walks and infrastructure improvements are planned to enhance the area's appeal to visitors.
Sources: Spanish Tourism Sets Records in 2023, Bermeo | Basque Country towns and cities | Tourism Euskadi, Family Investment: Bilbao’s Rising Market
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Spain. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
9) Getxo is attracting affluent buyers with its upscale neighborhoods and proximity to Bilbao, driving property value growth
Getxo's property values are on the rise, with the average price hitting €3,752 per square meter in 2024.
In upscale neighborhoods like Neguri and Areeta, luxury homes are in high demand. These areas are known for their exclusive living environments, attracting buyers who seek a touch of elegance and sophistication.
Getxo's charm is amplified by its proximity to Bilbao, a bustling economic center. This makes it an ideal spot for those who want the best of both worlds: serene coastal living and easy access to city life.
Beyond its economic appeal, Getxo offers beautiful beaches and a yacht harbor, perfect for those who enjoy a maritime lifestyle. The town's sports facilities also cater to active individuals looking for leisure and recreation.
Affluent buyers are drawn to Getxo not just for its location but for the lifestyle it promises. The combination of luxury, convenience, and natural beauty makes it a top choice for discerning property seekers.
With its rising property values and strong interest from affluent buyers, Getxo is becoming a hotspot for real estate investment.
Sources: Indomio, Kyero, Wikipedia
10) Leioa is gaining interest from families and professionals for its excellent schools and transport links to Bilbao, boosting property values
Leioa is becoming increasingly popular among families and professionals, and there are a few key reasons for this trend. One of the main attractions is the excellent schools in the area. For example, the University of the Basque Country in Leioa is a major educational institution that draws students from all over the region. This university is well-connected to other parts of the Greater Bilbao metropolitan area, making it a convenient choice for students and their families.
Another significant factor is the improved public transport infrastructure. Leioa has excellent connections through public transport, with frequent services provided by the Bizkaibus lines. For instance, the A2318 line offers regular services between Bilbao Intermodal station and the university campus, making commuting easy and efficient. This convenience is a big draw for professionals who work in Bilbao but prefer to live in a quieter area like Leioa.
These factors have contributed to rising property values in Leioa. The real estate market in Spain, particularly in the Basque Country, has been experiencing a rise in property prices. In 2024, analysts predicted a 5% increase in house prices across the country, and Leioa is part of this trend. The demand for housing in Leioa is driven by the influx of families and professionals seeking quality education and convenient transport links.
Sources: Euro Weekly News, Wikipedia, Sur in English
11) Durango is gaining interest for its strategic location between Bilbao and San Sebastián, attracting commuters and boosting real estate demand
Durango's growth can be attributed to its strategic location between Bilbao and San Sebastián, making it an attractive spot for commuters. This is largely due to its excellent connectivity with both cities through public transport options like buses and trains, which makes daily travel convenient for residents and workers.
Rising property prices in Durango, compared to previous years, indicate a growing demand for real estate. Although specific data on property price increases isn't provided, the general trend of growth in the Basque Country, along with Durango's strategic location, suggests that property prices are likely on the rise. This is a common sign of a thriving real estate market.
Durango has also experienced steady population growth over the years. For instance, the population increased from 29,715 in 2023 to 29,934 in 2021. This growth can be linked to its appeal as a commuter town, drawing people who work in the larger cities but prefer living in a more accessible and potentially more affordable area.
Sources: CaixaBank Research, City Population, Turismo
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.