Published on and written by Cyril Jarnias
Nestled between the sea and mountains on the Costa del Sol, the municipality of Mijas checks almost all the boxes sought by investors: sunny climate, modern infrastructure, solid rental market, and prices still lower than those in Marbella or Estepona. Most importantly, the market is no longer driven by speculation as before 2008, but by real demand from residents, expatriates, and tourists.
Good to know:
This article provides a comprehensive analysis for investing in real estate in Mijas, including market performance, rental yields, key neighborhoods, and price per square meter. It also addresses risks to watch, financing options for non-residents, and the tax framework, offering a solid foundation for making an investment decision.
A Strongly Growing Yet Considered Healthy Market
For several years, Mijas has experienced impressive dynamism. Between 2020 and 2024, real estate values there increased by approximately 18%. In 2025, the trend even accelerated: notaries report a more than 12% increase in transactions compared to the previous year, and price increases ranging between +5% and +12% depending on the area.
4104
At the end of 2025, the average price per square meter in Mijas Costa reached €4,104, surpassing the pre-2008 crisis level.
Price Evolution by Property Type
| Year | Average Apartment Price (€/m²) | Annual Change | Average House Price (€/m²) | Annual Change |
|---|---|---|---|---|
| 2022 | 3,131.11 | — | 2,566.95 | — |
| 2023 | 3,277.39 | +4.67% | 2,764.42 | +7.69% |
| 2024 | 3,638.41 | +11.02% | 3,033.29 | +9.73% |
| 2025 | 4,003.51 | +10.03% | 3,311.77 | +9.18% |
Sources: Engel & Völkers data (EV DWH)
Projections remain optimistic. For 2026, analysts place Mijas among the three most dynamic municipalities on the Costa del Sol (along with Estepona and Benalmádena), with expected growth of +5% to +9%. Over the 2021‑2026 period, the cumulative appreciation is estimated between +45% and +60%.
This progression rests on several pillars: new quality supply (many new developments), strong international demand, supply limitations in the best locations, and massive investments in infrastructure and public facilities, such as the opening of Gran Parque, one of the largest urban parks in Andalusia, in 2025.
Rental Yields Above the Costa del Sol Average
Investing in real estate in Mijas is not just about betting on capital gains. The rental market there is particularly promising, driven both by tourism (over a million visitors per year) and by growing demand for year-round residences (expatriates, remote workers, retirees, families).
On average, investors can aim for gross yields between 4% and 7% per year, with an overall average around 5.37%. The average profitability of rental investments in Mijas is moreover assessed at 7.4%, about 0.4 percentage points more than the Spanish average.
Prices, Rents, and Capital Recovery Time
Current orders of magnitude are at these levels:
| Indicator | Average Value in Mijas |
|---|---|
| Average property sale price | €330,000 |
| Average monthly rent | €1,450 |
| Capital recovery time | ~19 years |
| Average gross rental yield | 5.37% |
With this data, the rent-to-price ratio remains close to 0.5% monthly (6% annually), often considered an interesting threshold for a buy‑to‑let investor.
14.09
The average rent asked in the municipality in August 2025, in euros per square meter and per month.
| Year (Mijas, long-term rental) | Projected Average Rent (€/m²/month) | Estimated Annual Change |
|---|---|---|
| 2024 | 15.58 | +9.03% |
| 2025 | 16.50 | +5.91% |
| 2026 | 16.97 | +2.85% |
These figures place Mijas in the high range of the Costa del Sol in terms of yield, while remaining more affordable than Marbella or Estepona in terms of entry price.
Which Strategy: Long-Term or Seasonal Rental?
The choice between year‑round rental and tourist rental is central when considering investing in real estate in Mijas. Both options are viable, but with different risk, workload, and yield profiles.
Long-Term Rental: Stability and Near-Complete Occupancy
The residential rental market is particularly tight in the province of Málaga, which pushes rents upward and ensures very high occupancy rates. In Mijas, areas like Las Lagunas, Mijas Pueblo, or certain neighborhoods of Mijas Costa attract year‑round tenants: local families, settled expatriates, remote workers.
Across the Costa del Sol, gross yields for long‑term rentals generally range between 3.5% and 6%, with Mijas being one of the better‑placed areas, with average yields of 4% to 6% depending on the neighborhood. Occupancy is very high, often between 90% and 100%, with vacancy periods limited to a few weeks per year.
Tip:
Management costs for a long-term rental are generally between 5% and 10% of the rent received. This commission covers agency services such as check-in management, contract drafting, and tenant changes. In exchange for these fees, rental income is stable throughout the year, without the seasonal variations of a tourist rental, which corresponds to a more patrimonial investment approach.
Tourist Rental: High Gross Yields, Heavier Management
On the seasonal side, Mijas fully benefits from the appeal of the Costa del Sol, which welcomes over 12 million tourists per year, more than a million for Mijas alone. The vacation rental market is well established there, with a very diverse international clientele: British, French, Nordic, Germans, remote workers, summer families, golfers, etc.
For an investor, the numbers are attractive:
– Gross yields on tourist rentals in Mijas generally range between 7% and 14% depending on location, property quality, and management.
– Net yields, after deducting management fees, expenses, cleaning, and taxes, are rather between 3% and 6%.
– On the Costa del Sol, the average yield for tourist rentals was around 5.6% in early 2025 (versus 5.93% at the end of 2024), which remains high for such a mature area.
In La Cala de Mijas, one of the most sought‑after spots, well‑located apartments in short‑term rentals often generate between 5.5% and 7.5% gross yield; for year‑round rentals, it’s around 4% to 5%. Well‑managed properties in La Cala, Fuengirola, or Benalmádena can achieve 8% to 10% gross yield.
Attention:
It is necessary to factor in the specific costs of this strategy, including management fees (15% to 25% of revenue), cleaning, maintenance, furniture renewal, and booking platforms. The annual occupancy rate, although good, is fluctuating, varying between 55% and 85% depending on the product type and management quality.
Seasonality: Marked Variations
Seasonality plays a major role for those betting on tourist rentals. On the Costa del Sol, and therefore in Mijas, the profile is very marked:
– In high season (July‑August), rents are 40% to 60% above the annual average, with occupancy rates between 85% and 95%. For a well‑located two‑bedroom apartment, weekly rents in summer often range between €800 and €1,200, with some properties exceeding €1,000 per week.
– In mid‑season (June, September), rents are 20% to 35% higher than the annual average, with good occupancy levels.
– In low season (November to March), prices drop 25% to 40% below the average; occupancy rates often range between 35% and 50%.
Christmas, New Year peaks, or major events on the Costa del Sol (concerts, festivals, tournaments) temporarily boost demand, especially for properties near major venues and event spaces (Marenostrum Fuengirola, Starlite Marbella, Marbella Arena).
Which Property Types Offer the Best Yields in Mijas?
The choice of property type is decisive for profitability. In Mijas, the supply is very varied: seafront apartments, studios, penthouses, townhouses, family villas, large luxury properties, new developments with hotel services.
Yields by Apartment Typology
Local data allows for comparing the segments:
| Property Type | Average Sale Price | Average Monthly Rent | Average Gross Yield |
|---|---|---|---|
| Studio | €160,000 | €900 | 6.75% |
| 1‑Bedroom Apartment | €247,000 | €1,000 | 4.86% |
| 2‑Bedroom Apartment | €319,900 | €1,400 | 5.25% |
| 3‑Bedroom Apartment | €445,000 | €2,200 | 5.93% |
| 4 Bedrooms and more | €485,000 | €1,700 | 4.21% |
We observe that:
Example:
On the Costa del Sol, rental yield varies by property type. Studios offer the highest average gross yield, but are more sensitive to vacancy periods and attract a more transient clientele. One‑bedroom apartments show a lower yield than studios but are highly sought after for short‑term rentals and easy to re‑let. Two and three‑bedroom properties offer a good compromise between yield, demand, and resale ease, with the two‑bedroom format being the most in demand for tourist rentals. Finally, large apartments and villas generally have lower gross yields, as their price is more influenced by lifestyle criteria (such as sea view or private pool) than by profitability alone.
In general, regional studies show that properties of 40 to 70 m², well located, offer the best yields per square meter in tourist rentals, an observation that also holds true in Mijas.
Entry Price by Property Type
On average:
Real Estate Prices in Mijas
Overview of average prices for different types of real estate in the municipality of Mijas, Andalusia.
Apartment
The average price of an apartment in Mijas is around €200,000.
Villa
The average price of a villa is more on the order of €350,000, but villas in Mijas Costa are often between €500,000 and €1.5M in the most sought‑after areas.
Townhouse
Townhouses are positioned between €300,000 and €500,000 in many recent developments.
On the scale of the Costa del Sol, prices thus remain below the levels of Marbella, where the average price of a villa far exceeds €450,000, and the average sale price was around €715,000 in 2025.
Neighborhoods to Know for Investing in Real Estate in Mijas
The strength of Mijas also lies in its internal diversity. The municipality encompasses quite different environments: the perched white village, the highly touristy coastal strip, golf areas, urban neighborhoods near Fuengirola, family residential pockets. Location remains the main factor for rental performance and capital gains.
La Cala de Mijas: The Balanced “Hotspot”
La Cala de Mijas is often cited as one of the best sectors for a first investment in Mijas. This once modest coastal village has become a lively hub, with shops, restaurants, bars, a pleasant beach, and a very popular seafront promenade.
The ingredients that make it a flagship sector:
– Strong tourist appeal in summer and good off‑season attendance (golfers, retirees, remote workers).
– Varied supply: modern apartments, contemporary villas, new developments, complexes with pools and common areas.
– Proximity to La Cala Golf Resort (3 18‑hole courses).
– Sustained development pace, especially around La Noria, with many recent constructions.
Price‑wise, La Cala de Mijas is clearly in the upper tier of the municipality. In February 2026, the average price per square meter ranged between €3,800 and €4,200, with an annual increase of +8% to +12% in 2025. A two‑bedroom apartment there typically sells for between €270,000 and €380,000.
Good to know:
Rental yields remain interesting thanks to strong demand for both short‑term and annual rentals, particularly for properties located near the beach and town center.
Mijas Costa: The Coastal Strip with Strong Rental Potential
Mijas Costa refers to the long coastal strip comprising several urbanizations: Riviera del Sol, Calahonda, Miraflores, El Faro, El Chaparral, La Cala Hills, and others. Mainly found here are:
– Large apartment complexes with communal pools, gardens, sometimes spa or coworking spaces.
– Row townhouses, popular with families and permanent residents.
– Villas with sea or golf views, often in gated communities.
Prices here are generally lower than in Marbella for an equivalent product, with an estimated gap between 20% and 30%. In 2025, the average listed price in Mijas Costa was around €3,996/m², up about 12% year‑on‑year.
Riviera del Sol and Calahonda, two iconic urbanizations, well illustrate the interest for investors:
– Price per square meter (February 2026): €3,500 to €3,900/m².
– Price growth in 2025: +10% to +14%.
– Typical two‑bedroom: €230,000 to €330,000.
These areas benefit from a significant international clientele (British, Nordic, German), a family‑friendly environment (schools, shops, easily accessible beaches), and solid rental demand, both year‑round and seasonal.
Mijas Pueblo: Andalusian Charm, More Patrimonial
Perched at about 430 meters altitude, Mijas Pueblo constitutes the “postcard” face of the municipality: cobbled streets, white houses, spectacular views of the sea and, on clear days, as far as the mountains of North Africa.
Flagship products:
– 2 to 3‑bedroom village houses, sometimes with a roof terrace, between €150,000 (to renovate) and €350,000 (renovated).
– Small apartments in old or renovated buildings, between €100,000 and €200,000.
– Fincas in the countryside, with land and sometimes a pool, between €250,000 and over €800,000.
– Contemporary villas on the outskirts, from about €400,000.
The average price is around €3,600 to €4,400/m² depending on micro‑sectors, with price increases of +8% to +10% in 2025. Demand for vacation rentals exists but remains more niche (countryside stays, wellness retreats, long stays), and residential rental is more limited. This sector appeals more to buyers looking for an authentic place to live than to short‑term profitability purists.
Las Lagunas: Rental Value and More Accessible Prices
Las Lagunas, on the border with Fuengirola, constitutes the urban and commercial heart of Mijas. It’s a more compact area, with modern buildings, public services, schools, shopping centers, and very good road connections.
Assets for the investor:
3300
Average price per m² for apartments, allowing for a gross rental yield of 4.5% to 6% thanks to a good rent‑to‑price ratio.
A two‑bedroom apartment there is often found between €190,000 and €270,000, an interesting entry price for a first rental investment focused on stability.
Mijas Golf, Cerrado del Águila, Calanova: The Golf Appeal
The golf areas are numerous and structuring:
– Mijas Golf (Los Lagos and Los Olivos),
– La Cala Golf Resort (3 championship courses),
– Calanova Golf,
– El Chaparral Golf Club,
– Cerrado del Águila.
These neighborhoods host villas, apartments, and penthouses in secure complexes, with views of the greens, pools, sometimes spa and “resort” services. They attract both retirees and investors targeting a clientele of golfers and vacationers looking for tranquility and prestige.
Prices vary strongly, but one can find:
– Mid‑range villas from €450,000 at Mijas Golf.
– High‑end villas from €1.2M.
– New golf‑front developments around Calanova or La Cala with apartments between €300,000 and €600,000 depending on size and view.
Seasonal rents there are strong during high season and golf periods, with weekly rates that can exceed €1,000 for well‑positioned apartments.
New Developments: A Booming Market
Investing in real estate in Mijas also means confronting a particularly dynamic new‑build market. There are several dozen developments at different stages (marketing, under construction, completed), with an offering ranging from compact apartments to large luxury villas.
For the investor, the advantages of new builds are clear:
Advantages of New Residences
Discover the major assets of new real estate developments designed to meet the contemporary expectations of investors and residents.
Architecture & Design
Modern design with large bay windows, open floor plans, and generous terraces for a bright and pleasant living environment.
Energy Performance
Buildings with superior energy efficiency, reducing expenses and significantly improving rental attractiveness.
Services & Common AreasRental Potential
Enhanced rental potential, particularly for the international clientele that favors turnkey solutions and integrated services.
Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
