How to Buy a Cheap Apartment in Spain?

There are many places in Spain with property sales. Marbella, Ibiza, Mallorca, Torremolinos… But let’s take a small town on the Costa del Sol as an example: Nerja, Spain.

Nerja is one of the most popular destinations on the Costa del Sol, known for its beautiful beaches, picturesque old town, and sunny weather all year round. However, despite its appeal, many people wonder: How can I buy a cheap apartment in Nerja? In this article, we will answer some of the most frequently asked questions about purchasing property in Nerja and give you the best tips for finding an offer that fits your budget.

1. Is it possible to find cheap apartments in Nerja?

Yes, while Nerja is known for its luxury properties, there are also affordable options available, especially if you know where to look and what to expect in terms of pricing. The cheapest apartments are usually located outside the more touristy areas, such as Burriana Beach or the Balcón de Europa. You can also find good deals in areas like La Noria, Torrox Costa, or even in the countryside, where prices are lower.

2. Where can I look for cheap apartments in Nerja?

There are several options for finding affordable apartments in Nerja. Some of the most effective ones include:

• Online property portals: Websites like Idealista, Fotocasa, and Pisos.com offer a wide range of properties in Nerja. You can filter your search by price and view properties within your budget.
• Local real estate agencies: Agencies in Nerja are experts in the local market and may have properties that are not listed online, giving you an advantage. They can also provide information about auctions or urgent sales that might offer lower prices.
• Social media and local groups: Platforms like Facebook have buy-and-sell groups where local residents often advertise properties at competitive prices.

3. How much does an apartment cost in Nerja?

The price of apartments in Nerja varies depending on the location, size, and condition of the property. Here’s a general idea:

• Small apartments on the outskirts of Nerja or in less touristy areas can range from €100,000 to €150,000.
• Apartments in the center of Nerja or near the beach typically cost between €150,000 and €250,000, depending on their size and condition.
• Luxury properties or those with sea views can exceed €300,000 and can go much higher.

4. What factors affect the price of an apartment in Nerja?

The price of an apartment in Nerja can vary for several reasons:

• Location: Apartments closer to the beach, city center, or with sea views tend to be more expensive. Properties in the old town or tourist-heavy areas have higher demand, which drives up their price.
• Size and features: The number of bedrooms, the size of the apartment, and amenities (such as a pool, terrace, or views) can increase the value.
• Property condition: A newly-built or recently renovated apartment will cost more than one that needs repairs.
• Market demand and supply: Like anywhere else, if there is high demand for properties in Nerja, prices tend to go up. However, if there are more properties for sale than buyers are willing to purchase, prices may drop.

5. Is it better to buy a new or second-hand apartment in Nerja?

Both options have their advantages, depending on what you’re looking for:

• New apartments: These are a good choice if you don’t want to worry about renovations and prefer something modern and energy-efficient. However, new apartments tend to be more expensive.
• Second-hand apartments: These can offer lower prices, especially if they are in a less-demanded area or need some repairs. If you have the time and budget for renovations, this option could be more affordable.

6. What should I consider before buying an apartment in Nerja?

Before taking the plunge and buying an apartment in Nerja, it’s important to consider several aspects:

• Legality: Make sure the property is legally registered and has no pending charges (such as debts or mortgages). A lawyer specializing in real estate in Spain can help you with this process.
• Additional costs: In addition to the purchase price, there are other costs you need to factor in, such as property taxes (VAT or AJD, depending on whether it is new or second-hand), notary fees, registration, and possible renovations.
• Community fees: If the apartment is part of a building with other units, check the community fees and building rules. Some apartments in urbanizations have high fees for the maintenance of common areas.
• Access to services: Consider the proximity to essential services such as supermarkets, public transportation, health centers, and schools if necessary.

7. When is the best time to buy a cheap apartment in Nerja?

Although the real estate market in Nerja is active year-round, there are certain times when you may find better opportunities to get lower prices:

• Winter (November to February): During the off-season, prices are usually lower. Also, sellers who couldn’t sell during the high season may be more willing to lower their price.
• After the summer holidays: During the fall months, prices may stabilize, and some properties might be available at more competitive prices.

8. Is it safe to invest in a cheap apartment in Nerja

Nerja remains a highly attractive destination for tourists, making property purchases there a good long-term investment. However, as with any investment, it’s important to do thorough research and ensure that the property is legally compliant and located in a desirable area. It’s also worth considering the possibility of vacation rentals, as Nerja is a popular tourist spot, and this can generate additional income.

Buying a cheap apartment in Nerja is certainly possible if you are willing to do your research, compare options, and be flexible with location and property type. By looking outside the more tourist-heavy areas and being open to second-hand properties, you can find a great deal. Be sure to get the proper advice, such as from a local real estate agent or lawyer, to ensure your purchase is safe and successful.

If you follow these tips and take your time to evaluate all your options, buying an apartment in Nerja at a good price can be a much more accessible and successful experience.