Nerja Property Prices, Rents & Rental Yields

About Nerja

Nerja sits on the eastern Costa del Sol, where cliff-backed coves, a compact town center, and sea views have long shaped its appeal. For apartment investors, the setting matters because the market is tied to a place that combines a strong coastal identity with limited room for expansion.

July 2026 brings the clearest signal: pricing is still moving higher, but income is not keeping pace as quickly. The average apartment sale price is €365,000, unchanged from the previous month, yet it is up 10.9% year on year. That stability at the headline level masks a firmer annual revaluation, especially when set against the rise in the average price per square metre to €4,420, which is up 4.9% over 12 months and 3.0% month on month.

For rental-led buyers, the tension is sharper. Average rent has climbed to €1,150, up 4.5% from June and 15.0% over the year, but the current yield is 4.33%, suggesting that returns are being compressed by the faster move in capital values. In practical terms, Nerja’s apartment market is still advancing, yet the recent pace of rent growth is only partly offsetting the stronger increase in purchase prices. That leaves July looking like a month of continued appreciation, but also of tighter investor economics than a year ago.