Twelve areas measured the same way
The figures below are indicative, based on our local partners' estimates from asking prices and observed transactions up to mid-2026. They are not registered sales data and say nothing about any individual property. Yields are gross and blend different types of letting.
| Area | Price per m² | Average apartment | Gross yield | Price, 12 months | Months of supply |
|---|---|---|---|---|---|
| Manilva | €3,000 | €254,000 | 7.5% | +9.6% | 15.2 |
| Torremolinos | €3,620 | €284,000 | 7.2% | +9.4% | 11.5 |
| Benalmádena | €3,535 | €294,000 | 6.8% | +9.0% | 12.4 |
| Fuengirola | €3,565 | €286,000 | 6.5% | +8.8% | 12.6 |
| Málaga city | €3,790 | €336,000 | 6.5% | +10.1% | 16.2 |
| Nerja | €3,915 | €345,000 | 6.2% | +9.3% | 13.0 |
| Mijas Costa | €3,370 | €331,000 | 6.0% | +9.5% | 13.4 |
| Mijas | €3,190 | €286,000 | 5.9% | +9.2% | 14.4 |
| Rincón de la Victoria | €3,455 | €320,000 | 5.8% | +10.8% | 12.4 |
| Estepona | €3,510 | €352,000 | 5.8% | +11.6% | 14.7 |
| Marbella | €5,720 | €496,000 | 5.5% | +10.4% | 15.0 |
| Nueva Andalucía | €6,160 | €616,000 | 4.5% | +10.8% | 13.8 |
"Months of supply" shows how long current stock would last at the current pace of sales. Note the spread: price trends differ by less than three percentage points between areas and yields by three points, but speed of sale by almost five months. What really separates the areas is how easily you can get out again later.
Choosing by objective
- Rental yield: Manilva, Torremolinos and Benalmádena. Manilva has the highest gross yield and the cheapest average apartment, but with 15.2 months of supply it is a slow market; a high yield in a slow market is often compensation for lower liquidity. Torremolinos and Benalmádena combine a high yield with quick sales.
- Price trend: Estepona (+11.6 per cent), followed by Rincón de la Victoria and Nueva Andalucía (+10.8) and Marbella (+10.4). This looks back; it is not a forecast. New builds make up 29 per cent of supply in Estepona; see buying off-plan.
- Ease of exit: Torremolinos, Benalmádena, Rincón de la Victoria and Fuengirola sell fastest; Marbella, Manilva and Málaga city slowest. More in speed of sale by area.
- Low entry capital: the average apartment costs no less than €254,000 anywhere. Allow 9 to 12 per cent in costs on top of the price for resale and 12 to 14 per cent for new build. With €300,000 of total capital, only the average apartment in Manilva fits; see what €300,000 buys.
- Wealth preservation rather than income: Marbella and Nueva Andalucía. Low yields and a lot of tied-up capital, but a market of international buyers who do not depend on Spanish lending.
Málaga city: often cited, slow to sell
The city offers a reasonable gross yield (6.5 per cent) and solid price growth (+10.1 per cent), but also the largest supply: around 2,900 homes for sale against some 2,150 sales a year. If you buy to let long term and hold, that is no obstacle. If you expect to sell within two or three years, you are in the longest queue. The city also has a freeze on new tourist registrations; see tourist licence.
From gross to net: a worked example
A constructed example, not an actual transaction: a two-bedroom, 78 m² flat in Fuengirola, bought for €286,000 without a mortgage and let long term at €1,250 a month.
- Area average: 6.5 per cent gross.
- This flat's actual rent on the purchase price: 5.2 per cent.
- On the capital actually invested, including purchase costs (c. €316,780): 4.7 per cent.
- After IBI, community fees, insurance, maintenance, vacancy and management: 2.8 per cent before tax.
- After Spanish non-resident income tax for EU/EEA residents (19 per cent on the balance after costs): 2.6 per cent.
- For residents outside the EEA, such as the UK (24 per cent on gross rent, with no deduction for costs): 1.6 per cent.
A rule of thumb: multiply a gross yield by about 0.6 to estimate net before tax; see yield by area. On a sale, non-residents pay 19 per cent on the gain as of 2026; see capital gains tax. For your own situation, take advice from an independent tax adviser.
Common mistakes
- Ranking by gross yield and ignoring how quickly you can sell.
- Comparing a prime spot in one town with the average of another.
- Treating past price growth as an expectation.
- Adding rental yield and capital growth into a single "return": the first arrives monthly, the second only when you sell.
- Not requesting the community of owners' minutes, which show any approved special levies.
CostaVista guides you in translating your objective, capital and tax residence into a suitable choice of area and property, and then takes care of the purchase together with our local partners. Contact us for an initial conversation.
General information, as of October 2026. This is not legal, tax or financial advice; for your own situation, consult an independent specialist.