61% of the 3,200 homes in the city are second homes.
The Bakio City Council has informed the Basque government that the municipality is a “tense area” given the pressure from second homes, which make up 61% of local housing.
In a study presented by the city council to the Basque government, local officials confirmed that Bakio has a park of 3,275 houses, the price of which is increased by the demand for second homes.
For example, in May 2024, there were 25 homes for sale in this municipality, with a size of average price of 447,920 euroswhile there were twelve apartments for rent, with an average rent of 1,800 euros per month.
Furthermore, in Bakio there are a total of 133 properties registered for tourist use, which according to the municipal council are occupied only 38% of the days of the year.
These circumstances confirm that a large number of residents have to spend more than 30% of their income on their home and that the real estate supply for local residents is ‘insufficient’.
Therefore, the city council has emphasized that the municipality is a “stress area” in terms of housing, even though it is not classified in this way by the Basque government.
So far, the city council has adopted a few measures to facilitate access to housing to the local population, such as the obligation that tourist apartments be installed only on the ground and first floors, with a maximum of one accommodation with these characteristics per building.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
