Most have only one room and are located in outlying or less attractive areas, although there are also some in Casco Viejo.
Average house price in Bilbao stood during the first quarter of the year is 2,572 euros per square meter (€/m²), which represents a year-on-year increase of 4.3% according to data from the real estate appraisal company Tinsa. The average value of apartments -both new and second-hand- and houses in the Biscayan capital reached its historical maximum in the fourth quarter of 2008 and since then its price has experienced an accumulated decrease of 26.1%.
The economic recovery after the pandemic crisis has once again encouraged the real estate market and although prices are beginning to be prohibitive again, it is possible to find second-hand apartments with three bedrooms for less than 100,000 euros. In the real estate portal
flats.com are offered up to
40 houses that come down from that price.
Most of them are in the districts of Ibaiondo (especially Bilbao la Vieja), Rekalde (Uretamendi, Iturrigorri, Peñascal) and Basurto-Zorroza, although there are also some homes for sale in Santutxu (especially Bolueta), Otxarkoaga or even the Old Town.
A flat of 100 square meters for less than 100,000 euros
Most have only one bedroom and in terms of size, they range from 33 to 100 square meters. This last case corresponds to a floor in the
Balearic Islands street, in San Ignacio. Of course, what is being sold is the bare ownership of the flat (and only its 60%). In other words, when you buy it, you acquire its right, but you cannot enjoy it until its inhabitant dies. It is a ground floor with 4 rooms -although one of them is used as a games room-, living room, bathroom, kitchen and shoe rack. When 60% of the bare property is sold, they explain on the web, “you could not see the house inside”, but the plans could. The price is negotiable”.
The largest second floor has 89 square meters, but with some specificities to take into account. It is a property on the street
Hurtado de Amezaga that before it was put up for sale it was a doctor’s office with three cabinets, a waiting room, a toilet and two storage rooms. On the website it is explained that there is “the possibility of transforming them into housing”. The problem is that it does not have a certificate of occupancy, the official document that certifies that a home meets the health, hygiene and safety requirements to be inhabited. According to piso.com, this property “could be distributed in 2 bedrooms, living room, kitchen and two bathrooms.”
The smallest is in the neighborhood of
Uretamendi (Rekalde district) and consists of a bedroom, living room with kitchenette and a bathroom “complete with hydromassage) spread over 28 square meters. It is “in good condition” and has “two private gardens with great views.” It is sold for 69,900 euros. Another of the smaller apartments has 33 square meters, at number 2 Belostikale, in the
Old Town. It consists of a living room, kitchen and dining room, a bedroom, a bathroom and a terrace “with spectacular views”. The building is from 1890 but “in a good state of preservation”. Its price is 87,000 euros.
The cheapest apartment that can be found on the web is in
old bilbao, «next to Marzana street and in front of Mercado de la Ribera». Of course, it does not have a certificate of occupancy, which according to the real estate portal “was losing due to the new urban regulations.” It is an attic of 37 meters built but only 25 useful, completely renovated in 2019, in a house without an elevator. It has natural gas heating and includes a storage room of 3 square meters.
Apartments for less than 200,000 euros
On piso.com you can also find up to a dozen new homes for less than 200,000 euros. Actually, this category includes second-hand but completely renovated apartments, newly built homes, and others under construction.
Among the first is the largest in the catalogue, with 100 square meters and four rooms. It’s in the
Zabala neighborhoodvery close to Miribilla, and has a price of 175,000 euros.
As for the homes under construction, the cheapest (122,655 euros) is a 30-square-meter studio on the street
Saint Nicholas of Olabeaga, belonging to the Norway II Building promotion. It has a room, kitchen, a complete bathroom and an elevator.
Another promotion that is being raised is that of
North Point of Zorrozaurre. These are VPO homes that are being built – they began to be built a little over a year ago – in the large expansion area of the municipality. There are different options: 90 square meters, three bedrooms and two full bathrooms for 178,000 euros; or 64 meters with two bedrooms and two bathrooms. At a price of 141,000 euros.
Among the homes offered on the web for less than 200,000 euros, the largest is a fifth floor of 100 square meters (80 useful), four bedrooms and two bathrooms (one with a shower and the other with a bathtub) in the
San Francisco Street. Of course, it is not a new construction, but completely renovated. It has no heating.