Vélez-Malaga Property Prices, Rents & Rental Yields

About Vélez-Malaga

Vélez-Malaga sits inland from the eastern Costa del Sol, with a historic core, strong local services, and easy access to beaches, the Axarquía countryside, and Malaga city. That mix gives the city a practical appeal that goes beyond its coastal setting.

July 2026 brings the clearest signal yet: apartment pricing remains much higher than a year ago, but the latest monthly move points to a brief cooling. The average sale price sits at €300,000, down 2.9% month on month, while the average price per square metre is €3,330, down 0.8% over the same period. Even so, the year-on-year rise is still pronounced, with sale values up 49.7% and the per-square-metre figure up 59.6%.

That creates a clear tension for investors. Rental levels have held steady at €900, leaving the gross yield at 3.95% even as purchase prices have reset sharply higher over the past year. In other words, the market is not showing rent growth to match the longer-term increase in capital values, which can make entry pricing the key variable to watch this month.

For apartment investors, July looks less like a broad correction and more like a pause after a strong annual run-up. The combination of stable rent and softer monthly sale pricing may offer a narrow window for buyers who are focused on value, but the larger backdrop is still one of significantly elevated pricing compared with last year.