The Basque Country ended 2025 with the highest volume of active free rental contracts in its history, totaling 86,522. By territory, Bizkaia leads with 42,927 active contracts, followed by Gipuzkoa with 31,351, and Álava with 12,244. In Gipuzkoa, where the clearest drop in entry rents is observed, the number of active contracts grew by 3.2% in the last quarter.
The Minister of Housing and Urban Agenda, Denis Itxaso, stated that the figures are encouraging but it is premature to consider it a consolidated trend. He emphasized that the price moderation is due to a combination of measures, including rent caps, extraordinary contract extensions, reference price indices, and tax incentives.
In Gipuzkoa, specifically in Errenteria (-4.1%), Donostia-San Sebastián (-3.7%), Irun (-3%), and Lasarte-Oria (-0.6%), the average rent for new rentals has decreased. San Sebastián has recorded two consecutive quarters of decline after reaching its historical maximum in the second quarter of 2025.
Meanwhile, Bizkaia saw a 2.1% increase in the average rent for new rentals, reaching 909.4 euros, surpassing Gipuzkoa's price for the first time since 2016. In Bilbao, the average rent increased by 2.2%.
Álava maintains more contained prices, with an average general rent of 727.2 euros. The average rent for new rentals decreased by 1.1%, to 807.1 euros. In Vitoria-Gasteiz, prices remain practically stable.
The Bizigune program, for public rental mediation, continues to expand its housing stock, reaching 7,499 homes. Gipuzkoa shows the greatest progress, with a year-on-year growth of 2.2%.
“"The Basque Country ends 2025 with more active contracts than ever. We are not just talking about percentages, but about a registered park of 86,522 rentals, with 42,927 contracts in Bizkaia, 31,351 in Gipuzkoa, and 12,244 in Álava. These are solid figures to affirm that, for the moment, there is no generalized withdrawal of homes from the rental market."
The minister emphasized that regulation and tax incentives must work together to increase supply and control prices. He recalled that over 25,000 property owners in Gipuzkoa have benefited from a 70% tax bonus for renting at contained prices.
