The average rent for new free-market housing rentals in Euskadi fell by 2.1% in the first quarter of 2026 compared to the end of 2025, settling at 867.4 euros per month. The decrease extends to all three historical territories: Álava recorded a 2.8% drop, Gipuzkoa 2.4%, and Bizkaia 1.0%.
The Vice-Minister of Housing, Miguel de los Toyos, accompanied by the Director of Housing Planning and Operational Processes, Saioa Beistegui, presented the statistics analyzing current contracts and new rental prices.
The stock of habitual free rentals in collective buildings reached 87,136 contracts as of March 31, 2026, an increase of 2,209 from a year prior (+2.6%). Álava has 12,337 (+3.3%), Bizkaia 43,316 (+2.4%), and Gipuzkoa 31,483 (+2.6%). The total number of registered housing contracts is 92,113, with 3.6% being seasonal rentals.
Donostia-San Sebastián has experienced three consecutive quarters of declining rents, accumulating a 7.8% reduction. Gipuzkoa, meanwhile, has seen two consecutive drops, totaling a 5.7% decrease. In Vitoria-Gasteiz, the average rent stands at 814.3 euros after a quarterly reduction of 4.3%.
Miguel de los Toyos advocated for an "optimistic reading" and indicated that the data suggests a "change in trend" in the free rental market, highlighting the exceptional nature of the three consecutive drops in Donostia-San Sebastián.
“"The data points to a change in trend in the context of the deployment of tense zones. The three consecutive drops in Donostia-San Sebastián are exceptional among Basque capitals and have no precedent in its series since 2016."
