Among the concerns of the people of Bizkaia, housing consistently ranks as a fundamental element for personal development, alongside employment. Although access to the labor market may drop in priority, securing a home remains an obstacle race for young people seeking independence.
This issue also affects older individuals who struggle to navigate market rules, and families arriving from other countries. Renting often serves as a first step, but the market frequently hinders progress in this area.
Following the designation of Barakaldo, a district of Galdakao, and Bilbao as stressed housing areas, Bizkaia has been included in the State System of Residential Rental Price References (Serpavi). This tool caps residential rental prices, impacting the two largest municipalities in the territory and the Aperribai area of Galdakao.
“"In Barcelona, prices have moderated by 5% since it was declared a stressed area, but 17% of flats have left the market."
Anticipating the system's implementation, some landlords have opted to sell their rented properties, fearing that new pricing policies might not meet their investment expectations. This trend was identified by the College of Real Estate Administrators (API) of Bizkaia as the changes approached and rental contracts concluded.
According to the Ministry of Housing, inclusion in Serpavi led to a 3.5% increase in habitual residence rental contracts in the year the first stressed areas were declared. However, in large cities like the Catalan capital, despite moderated rents, supply has significantly decreased.
Serpavi sets a maximum rental price if a property has not had a rental contract in the last 5 years, typically at the higher end of the range. For properties recently on the rental market with a new contract, the limit is the last contract's update. Large landlords (with more than five properties in a stressed area or ten elsewhere) must adjust rents within the Serpavi range.
