Properties to Buy in Nerja, Spain: A Detailed Guide for Foreigners
Thinking about buying property in Spain? Choose Nerja if you’re looking for the following:
- Natural Beauty
- Mediterranean Culture
- Investment Potential
- Opportunities to Secure Long-Term Residency in Spain (with the Spanish Golden Visa)
Nerja’s real estate market generally appears similar to Spain’s broader trends. This means it has gone through phases of both growth and stabilisation. However, despite periodic market fluctuations (which is no different to any other Spanish city), property values in Nerja have shown steady appreciation over time.
This not only makes it a sought-after destination for foreigners looking to live somewhere new, but also gives you a quality investment opportunity.
Throughout this guide, we’ll aid you with:
- The Process of Buying Property in Nerja
- Understanding the Local Market
- Managing Property-Related Taxes
Why Buy Property in Nerja?
See why Nerja’s property market is so exciting:
Six Compelling Reasons to Invest in a Nerja Property
Spanish Golden Visa Opportunity
Buying property in Nerja valued at €500,000 or more grants you eligibility for the Spanish Golden Visa, offering long-term residency and access to Europe’s Schengen Zone.
Mediterranean Climate
With more than 300 sunny days in the year, Nerja enjoys mild winters and warm summers, ideal to live in or for your holidays.
Cost of Living Advantage
It also ensures a reasonable cost of living compared to the US, Australia, and major European nations while combining well with the quality of life.
Competitive Property Prices
Despite its popularity, Nerja’s property prices remain more affordable than other Costa del Sol hotspots like Marbella or Malaga.
Proven Long-Term Growth
Historically, properties in Nerja have demonstrated steady value appreciation, with increasing demand from international buyers.
Excellent Connectivity
Nerja is within easy reach of Malaga International Airport, connecting it to major global cities.
Can Foreigners Buy Spanish Real Estate?
Foreign nationals, including Brits, shouldn’t have any issues when buying property in Spain. They don’t have any restrictions on foreign ownership like in some other European countries, so it’s good news if you’ve got your heart set on Nerja.
In fact, the Spanish government directly encourages foreign investors to buy property in Spain through a range of initiatives – even offering residency programs like the Golden Visa.
In Nerja, you can purchase:
- Luxurious Villas with Sea Views
- Apartments in the Old Town
- Houses in the City
The process for buying these is straightforward but requires careful planning – you’ll also need a Spanish bank account or a larger deposit in most cases.
Finding a House in Nerja
As Spain’s property-buying rules for foreigners are relaxed, many real estate platforms offer listings for homes in Nerja. These platforms allow you to explore various property options remotely or in person.
Popular Spanish Estate Agents for Nerja:
- Idealista: A leading platform offering a wide range of properties, from modern apartments to traditional Spanish townhouses.
- Fotocasa: Features numerous listings tailored to international buyers.
- Kyero: Specialises in properties for expats, including homes in coastal regions like Nerja.
While online platforms are convenient, visiting Nerja to view properties is strongly recommended. This allows you to assess the property’s condition, location, and surrounding amenities firsthand.
Upscore’s Benefits
Upscore’s Finance Passport simplifies the home-buying process, especially for foreign buyers investing in Nerja. Our platform offers a seamless way to navigate the complexities of property acquisition while addressing mortgage needs efficiently.
- Multiple Lenders: Compare mortgage options from local lenders to secure the best terms.
- Remote Application: Apply for your mortgage entirely online, no matter where you are.
- Personalised Service: Work with a dedicated agent throughout your property-buying journey.
- Free to Use: Our services are free to use. We earn a commission from lenders, ensuring no extra cost for you.
What Types of Properties are Available in Nerja?
Nerja offers a diverse range of properties, including:
- Luxury Villas
- Andalusian Townhouses
- Modern Apartments in the Heart of Town
- Countryside Fincas
Buyers often gravitate towards beachfront properties or homes near the picturesque Balcon de Europa.
FAQs
How Viable is an Investment in Nerja Real Estate?
Nerja comes great in terms of rental demand but mainly because the tourism in this town is high. It’s also way cheaper compared to other places along Costa del Sol, so you’re not going to break into big upfront costs.
What are the Additional Costs of Buying Property in Nerja?
Expect to pay between 10-15% of the purchase price in additional costs, which include:
- Property Transfer Taxes
- Legal Services
- Registration Fees
- Notary Fees
- Valuation Costs and Bank Charges
Am I able to let my Property in Nerja?
Of course, you stand a good chance of making quite a pretty penny, considering the tourism boom. You are supposed to register with the local government and be licensed for house rental, which we can definitely help you with.
How Do I Start the Process of Buying a Home in Nerja?
- Research Nerja’s property market
- Work with a local estate agent to find properties
- Secure a legal advisor who knows about Spanish real estate to aid you (they’ll handle property ownership verification and contracts)
- View the property in person
