The Buyer’s Guide: How to Find the Perfect Property in Nerja
- Sanna Ruuska
- Oct 2, 2024
- 8 min read
Updated: Oct 18, 2024
Welcome to my Buyer's Guide for Nerja! I'm Sanna, and I'm so excited to be part of your journey to find the perfect home in this beautiful town. Whether you're searching for a holiday getaway, a family home, or a great investment, this guide will give you all the tips and insights you need to navigate the Nerja property market in 2025.
From choosing the right location to understanding the buying process in Spain, I've gathered everything to make this experience as smooth as possible for you.
As a local real estate professional and someone who has lived in Spain for more than 10 years, first 7 years in Madrid and then several years in Nerja, I'm always happy to offer additional help, whether you have questions about specific properties or need advice on rental potential.
We bought our first property here in 2016 and have bought, renovated, and sold several others since then. If one hasn't gone through the entire process by themselves, then it's impossible to understand the whole process, where the possible problems are, and how to avoid them. Also, it's very hard to understand the feelings, emotions, and many times the stress that buying a property usually generates in us.
So, don't hesitate to reach out to me if you need personalized guidance. I speak English, Spanish, and Finnish. I also understand Swedish pretty well so feel free to use the language that suits you the best.
I also specialize in rental management, renovations, and home staging, so if you're planning to invest in a property for Airbnb or need help transforming a home, I'm here to assist.
You can find more helpful resources on my website, www.nerjawithsanna.com
Let’s make your Nerja dream come true!
Sanna
Email: nerjawithsanna@gmail.com
The Buyer’s Guide: How to Find the Perfect Property in Nerja
Welcome to Nerja, a gem on the Costa del Sol! Whether you're daydreaming about a sunny luxury villa or just dipping your toes into the idea of buying a holiday home in Spain, you've come to the right place.
My name is Sanna, a local real estate professional who has called home to this beautiful town for many years. I've helped numerous buyers navigate the process of finding their dream properties here. This guide is designed to give you a clear, simple overview of the buying process in Nerja, and to share insights that will help you make informed decisions along the way.
Why Choose Nerja?
Nerja, located just 50 kilometers east of Malaga, offers the perfect blend of a laid-back Andalusian lifestyle and a vibrant community, also during the winter months. This town is always open! Whether you're looking for a tranquil place to retire or a dynamic investment opportunity, Nerja's charm is undeniable.
Picture this: whitewashed streets lined with bougainvillea, endless stretches of beach, and the dramatic backdrop of the Sierra de Almijara mountains. The town's warm, sunny climate attracts both full-time residents and holidaymakers, with the population doubling in the summer months. It's not only a prime destination for sun and sea, but also for those who appreciate culture, history, and nature. For those who enjoy hiking or cycling, the nearby village of Frigiliana—voted one of Spain's most beautiful villages—is just a short drive away. Nerja has absolutely everything and even after years of living here it frequently surprises me with something new.
A Resilient Real Estate Market
The real estate market in Nerja has remained steady, even during economic downturns. Although the 2008 financial crisis impacted property prices across Spain, Nerja bounced back quickly, thanks to its small size, growing demand and limited availability of land for new developments. With upcoming projects like a potential golf course on the horizon, buying property here offers great long-term investment potential.
While prices have been increasing over the years, they remain attractive compared to other hotspots on the Costa del Sol. For investors, Nerja presents a great opportunity to buy into an emerging market that hasn't yet reached its peak.
Price Development in Nerja
Over the past 14 years, property prices in Nerja have seen significant growth. In July 2010, the average price was 2.229€ per m2, whereas today it stands at 3.433€ per m2. While these figures reflect general trends across the area, some neighbourhoods already see average prices exceeding 4.000€ per m2.
Although these are just averages, they offer a clear picture of the market. If the price per m2 approaches or exceeds 5.000€, it’s essential to conduct a thorough evaluation with an expert to ensure you are not paying above market value.
Popular Areas to Consider
Nerja offers a wide variety of neighborhoods, each with its own distinct personality. Here's a quick rundown of the most sought-after areas:
Punta Lara: Known for beautiful villas, chalets and fantastic sea views right next to Playazo Beach. The downside is that you need a car if you want to go to the city centre or take a 45 min walk.
Torrecilla: Ideal for those looking to invest in holiday rentals or for personal use, thanks to its proximity to beaches, city centre and vibrant atmosphere.
Centro (Old Town): If you love being in the heart of things, this area is packed with charm, featuring narrow streets, lively squares, and a variety of traditional and also modern apartments.
Burriana: Nerja's most famous beach, this area is perfect for beachfront properties.
Capistrano: A picturesque area known for its Andalusian-style homes. Capistrano offers a quieter setting, with both houses and villas.
Nueva Nerja: A peaceful residential area still close to the town center and Burriana Beach, perfect for those who want tranquility without sacrificing convenience.
Almijara: A more affordable family-friendly neighbourhood, featuring a mix of houses and apartments, with schools and amenities nearby. Also, the city centre is still within walking distance.
New Area next to Capistrano: Still in development and without the official name but worth keeping an eye on for future investment opportunities. If you're planning to buy something for long term, this is the place. From here you can find a new luxury house / villa with less than 1.000.000 €.
Nerja Property Price Guide
Depending on your budget, here's what you can typically expect to find in Nerja:
Under 200.000€: Studios and compact apartments, usually located slightly further from the town center or beaches. Areas like Torrecilla and Almijara are typical for this price range.
200.000€ - 300.000€: Comfortable 2-3 bedroom apartments, some with nice sea or mountain views. Areas to look for include Torrecilla, Almijara and upper parts of Nueva Nerja.
300.000€ - 500.000€: Larger apartments and houses, especially in Almijara, as well as some new developments for smaller apartments around Nerja. This budget is ideal for families or those seeking more space. Many properties in this range offer great views and outdoor and pool areas.
500.000€ - 750.000€: Larger apartments, houses, and new developments, ideal for families or those looking for more space, with many offering stunning views and outdoor areas.
750.000€ - 1.000.000€: High-end homes, including large houses with sea views and luxury features such as private pools or expansive terraces.
1.000.000€ and above: The crème de la crème—luxury villas, often with panoramic views, large plots of land, and premium finishes.
How the Real Estate Market Works in Nerja
When buying property in Nerja, it's essential to understand the roles of the various professionals involved in the process. Real estate agencies act as intermediaries between buyers and sellers, and they often have access to exclusive listings that may not appear on popular platforms like Idealista or Fotocasa.
In addition to agents, a lawyer (abogado) plays a crucial role, especially for international buyers. They will carry out legal checks, ensure there are no debts on the property, and guide you through the intricacies of Spanish property law. Notaries are another vital part of the process, as they officiate the final sale, making the purchase legally binding and ensuring all documents are in order.
In Spain, when you purchase an apartment, you gain full ownership of the property. Every real estate transaction must be notarized and the property registered in the land registry (Registro de la Propiedad) before the sale is considered legally finalized. This also applies to any additional elements like garages or parking spaces, which are often registered separately with their own title deed (escritura).
If the property includes a parking space, it may also come with a storage room (trastero), which will be listed in the same deed. As a property owner, you are also required to pay an annual property tax (Impuesto sobre Bienes Inmuebles, or IBI), which is levied by the local municipality. This tax varies based on the location and size of the property and should be factored into your ongoing costs.
Finding Your Dream Home in Nerja
While websites like Idealista and Fotocasa provide a great overview of available properties, working with a local agent gives you access to more exclusive options. There are many excellent estate agents in Nerja, to name just a few: CG Real Estate, Nerja Property Center / Juan Garrido, Mäklarringen, and Fastighetsbyrån. They all cater to international buyers and offer good services.
The Buying Process Explained
The process of buying property in Spain may seem complex, but with the right guidance, it becomes much more straightforward. Here's a step-by-step breakdown of what to expect:
Finding and Visiting the Properties:
Everything starts with visiting properties, so you'll need to get in touch with different agencies. The idea that you only need one agent is, unfortunately, often not true. Agents typically have access to their own listings and maybe some others, but the "myth" that one agent can show you all available properties in Nerja is simply not accurate. It would be great, but it's not the reality.
Property shoppers are a different service altogether, and they collaborate with all agents in the area. They charge the buyer a fee, but you gain access to all available properties, and they handle the entire process for you. There are many other advantages to using these professionals (including me) and if you want, I’m happy to tell you more.
Reservation Fee:
After finding the property you would like to buy, a reservation fee (typically between 3.000€ and 10.000€) is paid to remove the property from the market. This allows time for legal checks and due diligence without the risk of losing the property to another buyer.
Due Diligence:
The agent and lawyer will gather all necessary documents, including the Nota Simple (which confirms the property's legal status and checks for debts), energy certificates, community minutes if the property is part of urbanization, and many others. These checks are critical to ensure there are no hidden surprises, such as unpaid debts or legal issues. If you're planning to rent out the property, it's also wise to ask something called "licencia de primera ocupación". That is needed when applying for the tourist license which is required for the short-term rental.
Financing Options:
If you require a mortgage, Spanish banks offer loans to non-residents, typically requiring a 30%-50% down payment. The banks here are friendly (especially if coming through a contact they know) and I'm happy to introduce you to them and also advise you to get the best mortgage terms. There's no need to bother the banks sooner than this, and if you have the down payment ready, you will get the loan. The banks are using the property as a guarantee so there's basically no risk for them.
Contrato de Arras:
After legal checks, a private purchase contract (Contrato de Arras) is signed, and a deposit of 10% of the purchase price is paid. This contract commits both parties to the sale, with penalties if either withdraws without reason. At this point usually, the sale finalization date is already agreed upon.
Completion at the Notary:
The final stage involves signing the Escritura (deed) at a notary's office, and officially transferring the property to your name. At this point, the remaining balance is paid, and the property is registered in your name at the land registry. This is a very formal situation that can easily take one hour or more. But usually, the atmosphere is nice and welcoming, especially here where everyone knows each other.
Ready to Take the Leap?
Buying property in Spain can be a big step, but it's also an incredibly rewarding one, some might even argue that it's a life-changing one. Whether you're looking for a personal retreat or a solid investment, I'm here to make the process as easy and stress-free as possible.
If you have any questions or want to start your property search, don't hesitate to reach out! Also remember to visit www.nerjawithsanna.com for more guides and tips.
Get in touch with me and let's find your dream home together!
Sanna
Email: nerjawithsanna@gmail.com
