The latest update from the Basque Government's Rental Market Statistics (EMAL) reveals a dual trend in Gipuzkoa's rental market. On one hand, there has been a sharp decline in the number of new contracts, while on the other, the price of those being signed has reached an all-time high.

Between July and September of last year, 551 new leases were signed across Gipuzkoa, a 61.2% decrease compared to the previous quarter of 2025. This reduction is substantial, as previously between 1,400 and 1,600 new contracts were typically signed each quarter. These figures coincide with the period when Donostia, Irun, and Errenteria were declared stressed rental areas.

Despite the fewer new agreements, these have set a record average price in the territory. Although the overall average price for the 30,366 existing contracts is 825 euros per month (a six-euro increase), the average rent for new deposits has surpassed the 900-euro threshold for the first time. The average rent for contracts established in Gipuzkoa reached 921.6 euros, a 3.5% increase from the second quarter.

Regarding the Basque capitals, the price of new deposits in Donostia decreased for the second time in 2025. After new average rents peaked at 1,190 euros, the latest data shows an average price of 1,159.5 euros, a 2.6% reduction. However, Donostia also saw a significant 53% drop in new contracts, with only 209 agreements. In contrast, Bilbao experienced a 10% decrease in new contracts, while Vitoria saw a 13.5% increase.

In Irun and Errenteria, the data are similar to the previous quarter. Irun registered nine fewer contracts, with an average rent of 775 euros. Errenteria, meanwhile, lost one rental contract, and its average price slightly increased to 769 euros.