Hondarribia – Irún
Located less than 25 km from San Sebastian and full of history that stems from the war it experienced due to its border location with France, these two municipalities present an attractive real estate sector, which is why Engel & Völkers has started operating in this area.
Bilbao - Getxo
For its part, Irún is an important hub of communications with Europe that also stands out for its commerce, tourism and gastronomy. This is why Engel & Völkers is currently offering properties in the most prime areas such as Mendibil, with an average price of 4,200 euros / sqm.
Property prices in Hondarrabia - Irún (Figures in euros / sqm)
Hondarribia is known to be one of the most beautiful towns in Spain. A holiday destination par excellence, the real estate market is highly seasonal both in type and customer profile. Although the demand is focused on properties near the sea of about 100 sqm distributed in three bedrooms and a maximum price of 600,000 euros, it can be divided into four according to the type of buyer: • Flats facing the sea in the most premium area that can reach one million euros. The buyers are foreign or Spanish customers who usually spend the summer in Hondarribia and decide to settle in the municipality. • Flats in the old part bought as an investment by national or foreign couples.
Minimum
Maximum
Average
Hondarribia Norte
2.800
4.400
3.500
Hondarribia Centro
2.900
5.100
3.900
Hondarribia Sur/Parte Vieja
2.600
3.600
3.152
Irún
1.727
4.500
2.654
Rentals The rental market in these municipalities is divided equally between national and international clients, although in Hondarribia it is more about holiday rentals rather than all-year-round. The demand varies more depending on the price than the type of housing. Thus, Spaniards looking for a house as their main residence and foreigners who look for a property for work reasons prefer flats of two or three
However, among the luxury holiday rentals, the biggest requirement is that the property, in many cases villas with some land, must be located near the sea.
• Golf Villas, highly sought by foreigners with high purchasing power and national clients looking for a quiet residential area.
Rental prices in Hondarrabia - Irún
90 | Market Report 2018-19 Spain and Andorra
After a few years of paralysis in its real estate market, in 2018 there was a steady recovery that paved the way for the construction of new homes on the scarcely available plots of land in the city. A high percentage of buyers seek apartments in the centre with up to 120 sqm distributed in three bedrooms and with a garage. Although there is a clear preference for properties less than 10 years old, there are clients who value the aesthetics of the building more over practical aspects, sacrificing a certain comfort for uniqueness and the wide spaces. Also worth noting is the high demand for attic-type flats and terraces, which is very difficult to fulfill due to the low supply. The profile of the buyer of housing in Bilbao is that of a family with children and an age between 45-55 years. On the other hand, the clients that request the most singular properties (in historical buildings, mainly located in the Ensanche of Bilbao) are independent professionals or professional athletes, all with great purchasing power and in most cases to be occupied by two people.
Property prices in Bilbao - Getxo (Figures in euros / sqm)
Minimum
Maximum
Average
Abandoibarra
5.000
6.500
5.300
Indautxu
3.700
4.000
3.850
Ensanche
3.790
4.480
3.900
Casco Viejo
2.125
3.400
2.300
Neguri
4.800
8.450
5.900
Las Arenas
2.500
5.100
3.200
Algorta
2.500
3.050
2.900
Zona de costa cercana
3.125
4.800
3.300
Plaza Euskadi underwent an important transformation between 2005 and 2009, going from being a non-urbanised area to one of the most modern and highly sought place in the city, with prices at the time of construction that in some cases exceeded 8,000 euros / sqm. At present it remains the most expensive address in the city with average prices at 6,500 euros / sqm, followed by Gran Vía (5,500 euros / sqm). These are prices that compete with Getxo’s most exclusive addresses such as Avenida de Neguri, Churruca and Zugazarte Avenue. To be precise, Neguri is the premium area par excellence, where there is an abundance of large-size apartments, in excess of 300 sqm.
bedrooms for about 700-800 euros per month.
• Basque hamlets, highly sought by investors or entrepreneurs who want to convert these properties into rural houses or restaurants.
With an average price of 3,500 euros / sqm, in Hondarribia there are two very exclusive addresses that far exceed this price: Paseo Butrón and Higuer Bidea with prices that exceed € 5,500 / sqm.
Named as the best European city in 2018 by the British Academy of Urbanism, Bilbao is an urban reference internationally recognised for uniting the strength of an avant-garde led by the Guggenheim Museum with an industrial past based on its economy.
(Figures in euros / sqm)
Hondarribia Irún
Minimum
Maximum
Average
9
19
13
9,38
17,56
11,67
Market Trends. The Spanish Residential Market | 91