Expensive being a “guiri”: Home prices in Competa, Frigiliana and Nerja jump more than 30% in five years

Northern Europeans are increasingly searching for homes in three towns in Spain's Axarquia region, driving up property prices by over 30%. Competa, Frigiliana, and Nerja have become popular destinations for foreign house hunters, with square-meter costs rising significantly since October 2021. Two types of visitors frequent the Costa del Sol: short-term visitors and older, often British, Dutch, Swedish, and German buyers looking for a permanent residence and milder winters.

These long-term buyers have formed small communities in the eastern hills and on the Nerja coast. Idealista, a Spanish real estate platform, reported that foreign visitors accounted for 61% of home views in Competa, 57% in Frigiliana, and 56% in Nerja, with Brits, Dutch, and German buyers leading in each location. Despite the high prices, these three towns are still lagging behind the overall provincial increase of about 75%.

Malaga itself has a mixed market, with mansions and seaside properties commanding high prices, while other areas offer more affordable options. The latest Idealista data suggests that the property price surge in these towns is likely to continue.