Donostia-San Sebastián Property Prices, Rents & Rental Yields

About Donostia-San Sebastián

Donostia-San Sebastián pairs a celebrated Bay of Biscay setting with a compact urban core, elegant seafronts and a long-standing appeal as one of northern Spain’s most distinctive coastal cities. For apartment investors, it is a market where scenery and scarcity often shape pricing more than size alone.

September 2026 points to a clear tension: sale values are easing slightly, but rental growth remains firm. The average apartment sale price stands at €620,000, down 0.8% on the month and 2.7% over the year, while the average price per square metre is €7,050, still up 4.4% year on year. That combination suggests that pricing power has not disappeared, but it is being expressed more unevenly across the market.

Against that backdrop, the rental side has become the stronger momentum signal. Average apartment rent has reached €1,990, up 4.7% month on month and 24.4% compared with last year. Even so, the yield sits at 3.97%, which shows that higher rents are not fully offsetting the city’s elevated capital values. For investors, the September 2026 picture is less about rapid repricing than about a market where income is improving faster than purchase prices, yet overall returns remain disciplined.