Triana, Nervión and Los Remedios are the established residential books; the historic centre is a small, constrained and heavily regulated stock. Heritage protection on the centro histórico limits what a renovation can legally do to a facade or a patio.
Forty-plus degree summers make orientation, cross-ventilation and the energy certificate practical rather than cosmetic. A north-facing flat is a different product here than in Bilbao.
Demand is driven by regional government, services and the university rather than by foreign second-home buying — which makes the rental book steadier and the resale liquidity thinner.