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Real Estate in Bilbao , Spain | Expat Exchange
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Zubizuri Bridge in Bilbao, Spain

Real Estate in Bilbao, Spain

By Joshua Wood, LPC

Last updated on Jul 10, 2024

Summary: Expats and retirees talk about real estate in Bilbao , Spain? How do you find a home in Bilbao ? Should you buy or rent? What is the cost of housing?

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Balcells Group Lawyers
Balcells Group Lawyers
Balcells Group Lawyers

How do I find a place to live in Bilbao?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Bilbao, Spain, involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a shared apartment to a private house. Next, you should research the different neighborhoods in Bilbao to find one that suits your lifestyle and preferences. Some popular areas include the Old Town (Casco Viejo), Abando, and Deusto. Once you have a clear idea of what you're looking for, you can start your search. There are several online platforms where you can find listings for rentals in Bilbao, such as Idealista, Fotocasa, and Pisos.com. These websites allow you to filter your search based on location, price, size, and other features. Another option is to hire a real estate agent who can help you navigate the local market and find a place that meets your needs. This can be particularly helpful if you're not fluent in Spanish, as the agent can handle communications with landlords and help with the paperwork. When you find a place you're interested in, arrange a viewing to see it in person. This will give you a chance to check the condition of the property and ask any questions you might have. Once you've found a place you want to rent, you'll need to negotiate the terms of the lease with the landlord. This will include the rent, the length of the lease, and any other conditions. Finally, before moving in, you'll typically need to pay a deposit and the first month's rent. Make sure to get a receipt for these payments and a copy of the signed lease agreement. Remember, finding a place to live can take time, so it's a good idea to start your search well in advance of your move," explained one person living in Bilbao , Spain.

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What is a typical expat home or apartment like in Bilbao?

"A typical expat home or apartment in Bilbao, Spain, is often located in the city center or in the suburbs, depending on the individual's preference for city life or a more relaxed environment. These homes are usually modern and well-maintained, with a blend of traditional Spanish architecture and contemporary design. They often feature spacious living areas, fully equipped kitchens, and one to three bedrooms. Many apartments also come with balconies or terraces, offering views of the city or the surrounding landscapes. Some expat homes may be found in apartment complexes that offer amenities such as a swimming pool, gym, or communal garden. Despite being in a foreign country, these homes are designed to provide all the comforts and conveniences that one would expect, making it easier for expats to settle in and feel at home," said one expat in Bilbao .

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What is the average cost of housing in Bilbao?

If you are thinking about moving to Bilbao, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Bilbao, Spain can vary greatly depending on the location and size of the property. As of 2021, the average price for a property in the city center is typically around €3,500 per square meter. However, in less central areas, the average cost can drop to around €2,500 per square meter. For rental properties, a one-bedroom apartment in the city center can cost on average around €800 per month, while the same property outside the city center may cost around €600 per month. Please note that these are average prices and actual costs may vary," said one person in Bilbao .

Should I buy or rent a home in Bilbao?

If you have not spent a lot of time in Bilbao, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Bilbao, Spain, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Bilbao for a long time, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide financial security in the future. However, buying a home also comes with additional costs such as maintenance, property taxes, and insurance. It also requires a significant upfront investment for the down payment and closing costs. Therefore, if you're not financially ready for these expenses, renting might be a better option. Renting a home in Bilbao offers more flexibility. It's a good option if you're not sure about your long-term plans or if you prefer not to deal with the responsibilities of homeownership. Renting can also be more affordable in the short term, as it typically requires less upfront money and you won't have to pay for maintenance or property taxes. However, renting doesn't allow you to build equity and your monthly payments could increase over time. Additionally, you may have less control over your living situation, as you'll be subject to the rules and decisions of your landlord. In conclusion, both buying and renting a home in Bilbao have their pros and cons. It's important to carefully consider your financial situation, lifestyle, and future plans before making a decision. Consulting with a real estate professional or financial advisor could also be helpful," said one expat who made the move to Bilbao .

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

Zubizuri Bridge in Bilbao, Spain

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