The cheapest town to buy a house in Vizcaya

Finding a home is one of the biggest challenges many people face. With rents at record highs, many are looking to buy a home to invest the money they would have spent paying someone else's mortgage into their own property.

The latest home sales data for March show that these transactions have soared by 40.6% , marking the highest record in 18 years. This figure is influenced, for example, by demand far exceeding supply and more affordable financing conditions thanks to the drop in interest rates and its impact on the Euribor.

Once the decision to buy a home is made, an intense search process begins, mostly on search portals. One common factor is that prices often increase as the home moves closer to prime real estate.

In Vizcaya, the average price per square meter in Bilbao in April 2025 is €3,525 , 3,567 in Berango, 3,195 in Etxebarri, and 3,386 in Leioa, these being the most expensive in the province.

At the other end of the spectrum is Balmaseda , where the average price per square meter during the same period was €1,711 . According to Idealista statistics, the price per square meter in this town's real estate market has grown by 3.1% compared to April 2024, although it has decreased by 2.8% compared to March 2025.

Balmaseda is a municipality with a population of around 50,000 . According to the Basque Country Tourism website, it boasts an extensive and varied cultural heritage, as well as an environment filled with rivers, forests, mountains, and scenic landscapes.

The town's notable churches are San Severino, dating from the 15th century, and San Juan, with its Gothic architecture. The town is also about a 34-minute drive from Bilbao.

A search on the Idealista website reveals 39 properties currently for sale. For example, a three-bedroom, 83-square-meter home in good condition stands out for €142,000 . This puts the price per square meter at €1,710, the average for the municipality.

There are other offers, such as a two-bedroom apartment with 83 square meters for 150,000 euros, or a five-bedroom apartment with 195 square meters for 240,000 euros. There are all kinds of houses, although it's true that some need renovation.