Buying property à Bilbao with a dedicated expert

Bilbao's neighbourhoods offer a wide range of purchase price levels and lifestyle profiles, from prestigious central districts to more affordable outer areas.

• Abando / Albia: The most prestigious addresses in Bilbao, with purchase prices exceeding €5,000/m² and annual growth of 11.4% recorded in 2024–2025 (source: Bilbao housing market analysis, September 2025). Grand 19th-century architecture, proximity to the Gran Vía, Doña Casilda Park, and the Guggenheim Museum. Attracts professionals, executives, and international buyers.
• Indautxu: The most expensive district by asking price, reaching €5,251/m² in April 2026 (source: Indomio, April 2026). A vibrant, central neighbourhood with upscale shops, restaurants, and the San Mamés stadium. Popular with young professionals and affluent buyers.
• Casco Viejo (Old Town): Historic character with unique architecture and cultural significance. Purchase prices around €2,817/m², making it one of the more accessible central areas. Attracts buyers seeking authenticity and walkability.
• Deusto: Located across the Nervión river, home to the University of Deusto. Purchase prices above €4,000/m², with strong annual growth of 13.4% in 2024–2025 (source: Bilbao housing market analysis, September 2025). Popular with academics, younger professionals, and investors.
• Ibaiondo: One of the most affordable districts, with average prices around €232,078 per property (source: SpainHouses.net, May 2025). More residential in character, with good metro connections.
• Basurto-Zorroza: Average prices around €345,000 per property (source: SpainHouses.net, May 2025). A quieter, more residential area west of the centre.
• Otxarkoaga-Txurdinaga: The most affordable district, with average purchase prices of €3,133/m² in April 2026 (source: Indomio, April 2026), and prices as low as €2,706/m² recorded in September 2025. Further from the centre, more suburban in character.

1. Obtain your NIE number: Apply at a Spanish consulate in your country of residence or at a police station in Spain. This is the first administrative step and should be done before making any formal offer.
2. Open a Spanish bank account: Required for all payments related to the purchase, including taxes and notary fees.
3. Engage an independent property lawyer: A local solicitor experienced with foreign buyers will conduct due diligence, review contracts, and protect your interests throughout the process.
4. Property search and viewings: Identify properties through local estate agents, online portals (Idealista, Fotocasa), or buyer's agents. Attend viewings and compare options across Bilbao's neighbourhoods.
5. Make a formal offer: Submit your offer in writing. In Bilbao's competitive market, well-priced properties attract multiple buyers, so offers should be realistic and well-supported.
6. Sign the Contrato de Arras (deposit contract): A preliminary agreement that reserves the property. The buyer typically pays a deposit of 10% of the purchase price. If the buyer withdraws, the deposit is forfeited; if the seller withdraws, they must return double the deposit.
7. Due diligence period: Your lawyer verifies the Nota Simple, cadastral records, IBI payments, community fee status, planning permissions, and any outstanding charges on the property.
8. Arrange financing (if applicable): Finalise your mortgage offer with a Spanish bank. The bank will commission an independent valuation (tasación) of the property.
9. Sign the Escritura de Compraventa (public deed of sale): The final step takes place before a notary. Both buyer and seller (or their representatives) sign the deed, the balance of the purchase price is paid, and keys are handed over.
10. Pay taxes and register the property: ITP or VAT + AJD must be paid within 30 days of signing. Your lawyer or gestor then registers the deed at the Land Registry (Registro de la Propiedad), officially transferring ownership to your name.

Non-resident buyers can access mortgage financing from Spanish banks to purchase property in Bilbao, though the conditions are generally more conservative than those offered to residents.

• Loan-to-Value (LTV): Non-residents are typically limited to 60% to 70% LTV, meaning a minimum deposit of 30% to 40% of the purchase price is required, in addition to acquisition costs (source: Spain Non-Resident Mortgages 2026 guide). A buyer purchasing at €400,000 may borrow up to €280,000 and must provide at least €120,000 as a deposit, plus taxes and fees.
• Income requirements: Major Spanish lenders (including Sabadell, CaixaBank, and Santander) typically require a minimum net income of €2,500/month for a single applicant or €4,000/month combined for joint applicants (source: Mortgages For Foreigners In Spain 2026 guide).
• Loan duration: Mortgages for non-residents are often capped at 20 to 25 years, and the loan must be fully repaid before the oldest borrower turns 75.
• Documentation required: Passport, NIE, proof of foreign income (payslips, tax returns, or 2 years of audited accounts for self-employed buyers), international credit history, and a Spanish bank account for direct debits.
• Interest rates: As of early 2026, the 12-month Euribor — the benchmark for most Spanish variable-rate mortgages — has settled around 2%. Fixed-rate and mixed-rate products are also available.
• Bank costs: Under current Spanish law, the bank assumes costs linked to the signing of the mortgage loan, including agency fees, notary fees for the mortgage deed, registration fees, and AJD on the mortgage.

It is advisable to obtain a mortgage pre-approval before signing the Contrato de Arras, to ensure your financing is secured within the agreed timeframe.

When purchasing a property in Bilbao, buyers should budget for the following professional fees in addition to taxes:

• Real estate agent commission: In Spain, agency fees are traditionally paid by the seller, not the buyer. However, some agents charge both parties, so it is important to clarify this arrangement in writing before engaging an agent. Commission rates typically range from 3% to 5% of the sale price.
• Independent property lawyer (abogado): Strongly recommended for all buyers, and essential for foreign purchasers. Legal fees are generally around 1% of the purchase price, often with a minimum charge. Services include: due diligence on the property (Nota Simple, cadastral checks, IBI and community fee verification), review and negotiation of the Contrato de Arras, coordination with the notary, tax filings, and Land Registry registration.
• Notary fees: Typically between €600 and €1,500, based on the property value and complexity of the deed. The notary is a public official who authenticates the deed of sale; their fees are regulated by the Spanish government.
• Land Registry fees: Generally between €400 and €800, paid to register the new ownership in the Registro de la Propiedad.
• Gestor (administrative agent): Some buyers engage a gestor to handle tax filings and administrative paperwork after signing. Fees vary but are typically a few hundred euros.
• Property valuation (tasación): Required by the bank if you are taking out a mortgage. Cost is usually between €300 and €600, paid by the buyer.

As a general rule, buyers should budget a total of 10% to 15% of the purchase price to cover all taxes, fees, and professional services.