Comparison of property prices in Nerja vs other areas of the Costa del Sol

The Costa del Sol is a dream destination for many—whether for a second home, an investment, or a lifestyle change. With kilometers of coastline, charming towns, and vibrant cities, choosing the perfect location can be a challenge.

At Narixa Villas, we are experts in the real estate market in Nerja and understand that price is a key factor. If you’re wondering how much a property in Nerja costs compared to other popular areas such as Marbella, Estepona, or Málaga city, you’re in the right place.

In this article, we provide a property price comparison on the Costa del Sol to help you make an informed decision about your real estate investment in Málaga.

Nerja: A gem on the eastern edge of the Costa del Sol

Nerja, known as the “Balcony of Europe” and famous for its caves, has a unique charm. Unlike the hustle and bustle of other areas, Nerja maintains a more relaxed and authentic atmosphere, with pedestrian streets, hidden coves, and a traditional old town full of character.

This makes it an attractive option for those seeking peace and natural beauty without giving up comfort and services. But how does this charm translate into the property prices in Nerja?

Price comparison by key areas (Approximate average prices per square meter)

It’s important to note that these are average figures and can vary greatly depending on the property type (apartment, townhouse, villa), condition, views, and proximity to the beach and amenities. However, they provide a useful general overview.

Nerja

- Average price: Between €2,800 and €3,500/m²

- Features: Excellent value for money. You can find apartments with sea views, townhouses with communal pools, and exclusive villas. The center and beachfront areas are pricier but still more affordable than the western coast. Ideal for those seeking an authentic Spanish environment and strong holiday rental potential.

Marbella (and surrounding areas such as Puerto Banús)

- Average price: Between €3,500 and €6,000/m² (and significantly higher in prime locations such as the Golden Mile).

- Features: The luxury hub of the Costa del Sol. Prices are much higher, reflecting exclusivity, renowned golf courses, luxury marinas, and strong international demand. The market is dominated by high-end villas and apartments.

Estepona

- Average price: Between €2,500 and €3,800/m²

- Features: A booming area with new developments and improved infrastructure. Known as the “Garden of the Costa del Sol,” Estepona offers a lovely old town and modern residential projects. It strikes a balance between quality of life and moderate prices, though often higher than Nerja’s.

Málaga city

- Average price: Between €2,500 and €4,000/m² (with wide variations between the historic center, coastal districts like Pedregalejo, and outer neighborhoods).

- Features: As a provincial capital, it offers a vibrant urban lifestyle, great connectivity, museums, gastronomy, and a growing tech scene. High demand for both permanent homes and short-term rentals keeps prices strong—especially in central and prime areas.

Fuengirola / Benalmádena / Torremolinos

- Average price: Between €2,200 and €3,200/m²

- Features: Popular family-friendly tourist destinations with a wide range of apartments and townhouses. Prices are generally more affordable, with extensive tourist infrastructure. A solid option for investing in Málaga if you’re targeting short-term rental income.

Summary Table (Approximate Average Prices per m²)

Key considerations for your property investment

1. Purpose of purchase: Are you looking for a permanent home, a holiday property, or a rental investment?

2. Lifestyle: Do you prefer the peace of a coastal town, the luxury of Marbella, or the buzz of a city?

3. Budget: Naturally, this is the main limiting factor. Nerja offers very attractive options for different budgets.

4. Appreciation potential: Nerja continues to have strong growth potential thanks to its natural appeal and less saturated environment.

5. Accessibility: Consider proximity to airports, hospitals, and shopping centers. Nerja is about 45–50 minutes from Málaga Airport.

Conclusion

While the Costa del Sol offers a wide range of choices for every taste and budget, Nerja stands out as an exceptionally attractive option for those seeking authenticity, natural beauty, and an excellent real estate investment with a strong value proposition. Other areas may offer more exclusivity or urban lifestyle, but Nerja provides the opportunity to live or invest in a Mediterranean paradise at a more reasonable cost.

At Narixa Villas, we specialize in helping you find the perfect property in this unique corner of the Costa del Sol. Contact us and discover why Nerja could be your best investment in Málaga!