For Investors
We manage seven houses in the Axarquía and every week we are asked the same thing: “is it worth buying this to let?”. This guide brings together the public market data, what to check before you sign and how we analyse a specific property before you buy it.
Quick answer
In 2026 buying in the Axarquía for holiday letting can pay off, but only with the right product: walking distance to the beach or with a pool and views, with a registered or clearly obtainable licence and in a building that has not vetoed tourist use. Purchase prices rose between 5% and 17% in a year depending on the town (Fotocasa, September 2026), the province's long-term gross yield is 4.2% (Fotocasa, Q2 2026) and the province's holiday-home stock fell 6.6% after regulation (INE, May 2026). A well-chosen holiday let still beats a long-term let; a badly chosen one does not. That is why we analyse the specific property before you buy.
First Things First
Almost every listing and many sellers talk about gross yield. It is the one that matters least. These are the three sums we run, in this order:
1
annual income ÷ total investment
The one in the listings. Useful to compare areas, not to decide. Total investment includes purchase taxes (7% ITP in Andalusia on resale homes), notary, registry, refurbishment and furniture.
2
(income − platforms − fixed costs) ÷ total investment
Deducts Airbnb and Booking commissions, utilities including air conditioning, IBI property tax, community fees, insurance, maintenance and replacements. It is the sum for someone who self-manages.
3
the above − management commission
What you actually receive if you delegate. In Málaga, management companies charge between 12% and 25% of income. This is the figure we compare with a long-term let and with putting the money elsewhere.
Before You Sign
None of them is about the décor. All four happen before the offer, and all four have sunk purchases that looked good.
Every holiday home in Andalusia needs registration in the Tourism Registry (VFT number). If the property is already registered, check that the entry is active, in the seller's name and describes that property. If not, check that it meets the technical requirements (occupancy licence, air conditioning, ventilation) and that the municipality has not restricted it. Málaga city has granted no new licences since August 2025; no town in the Axarquía has approved a moratorium as of September 2026, although Rincón de la Victoria announced one.
Since 3 April 2025 (Organic Law 1/2025) putting a home to tourist use requires the prior, express approval of the community by three-fifths of owners and shares, and the community may charge it up to 20% more in fees. The regional government asks for that certificate to register. Homes registered before are unaffected. Ask for statutes and minutes before offering; for a detached house this point does not exist.
Not the distance by car, but minutes on foot to the beach, promenade or centre, parking and views. In Nerja and Torrox Costa the winter guest does not want a car; in Rincón and Torre del Mar the summer guest arrives with one and needs a garage. The same flat changes yield depending on which street it is on.
Purchase taxes, refurbishment, full furnishing, smart lock, photography, licence, insurance and, every year, utilities including air conditioning, IBI, community fees, maintenance and replacements. It is what separates gross from net yield, and what almost nobody has in mind when looking at the listing.
The Full Sum
Indicative market figures, with sources. We calculate the ones for your property in the analysis.
| Item | Reference | Source |
|---|---|---|
| Transfer tax (ITP), resale home | 7% of the price in Andalusia (new build: 10% VAT + 1.2% stamp duty) | Junta de Andalucía |
| Notary, registry and gestoría | Around 1-2% of the price | Market practice |
| Fully furnishing a 70 m² flat | €9,500-11,500 | RealAdvisor, 2026 |
| Registration in the Andalusian Tourism Registry | Free; gestoría from about €129; technical reports €200-400 if the council requires them | Junta de Andalucía · gestorías |
| Platform commission (Airbnb, Booking) | 3-15% of income depending on model | Public platform rate cards |
| Full-service management commission | 12-25% of income in Málaga | Our article on fees, 2026 |
| Fine for operating unregistered | €2,000-18,000 | Andalusian Tourism Act |
Spain's national short-term rental registry (Royal Decree 1312/2024) was annulled by the Supreme Court in May 2026; regional registration remains in force. Our specific management commission is communicated with the personalised proposal.
Where to Buy
Each town has its own guide with prices, holiday homes, season and rules, and with what we check there before recommending a purchase.
| Town | Sale price | Holiday homes | Season and guest | Rules |
|---|---|---|---|---|
| Nerja | €3,852/m² (idealista, Apr-26) · €3,931/m² +12.8% (Fotocasa, Sep-26) | 2,731 holiday homes, 16.4% of housing stock (INE, May-26) | Longest in the Axarquía: Easter to October, plus a Nordic and British winter | No municipal moratorium. Community 3/5 vote (LO 1/2025) and RTA registration |
| Rincón de la Victoria | €3,400/m² (idealista, Apr-26) · €3,426/m² +4.8% (Fotocasa, Sep-26) | 658 holiday homes, 2.4% of stock, −14.7% year on year (INE, May-26) | Concentrated in summer and long weekends; overflow demand from Málaga city 15 minutes away | No moratorium approved; the council announced limits on new holiday lets (Nov-24), no record of approval |
| Vélez-Málaga / Torre del Mar | €2,013/m² (idealista, Jun-26) · flats €2,679/m² +11.3% (RealAdvisor, Sep-26) | 1,133 holiday homes, 2.3% of stock (INE, May-26); holiday homes >92% of the town's tourist beds | Long, very Spanish summer in Torre del Mar; marina at Caleta and countryside in Vélez | No moratorium. Long-term rents +20.6% year on year, the province's biggest rise |
| Torrox / Cómpeta | €3,123/m² (idealista, May-26) · €3,296/m² +16.9% (Fotocasa, Sep-26); Cómpeta €1,719/m² +12.9% | Torrox 1,260 (6.3% of stock) · Cómpeta 272 (7.9%, +34.6%) (INE, May-26) | German and long in Torrox Costa; rural spring-and-autumn in Cómpeta | No moratorium. Long-term gross yield in Torrox 3.8% (Fotocasa, Q2-26), among Andalusia's lowest |
The province of Málaga had 45,176 active holiday homes in May 2026, 6.6% fewer than a year earlier: the 2024-2025 regulation (Decree 31/2024, Málaga city's moratorium, the reform of the Horizontal Property Act) has taken more than 3,000 homes off the market, mostly those operating without a licence or without their community's permission (INE, experimental statistics).
Demand, meanwhile, keeps rising: the province's tourist apartments received 878,928 travellers between January and July 2026, up 19.3%, with 3.94 million overnight stays (+23.4%) and an average stay of 4.57 days (Turismo Costa del Sol on INE data, September 2026). Less legal supply and more demand is, for anyone operating fully compliant, a better market than 2023.
The province's average price is €4,126/m² (Fotocasa, September 2026, +7.7% year on year) and the gross yield on long-term letting has fallen to 4.2% (Fotocasa, Q2 2026), the lowest in Andalusia; in Málaga city, to 5.2% (idealista). That is why more and more buyers run the holiday-let sum: the long-term one no longer adds up.
INE · Fotocasa · idealista · Turismo Costa del Sol · BOE · BOJA
How We Work
We are not an estate agency or a financial adviser: we are the people who manage the house afterwards. That is why we want you to buy well.
01
Send us the listing link or the address. We look at real comparables in the area, the licence and community situation and set-up costs, and return an estimated net yield with what worries us and what we like.
02
If you go ahead, we review the key documents with you (tourism registration, minutes, occupancy licence) and tell you what to ask the seller for. Your lawyer or gestoría handles the legal side; we handle the operational side.
03
After purchase: licence if it has none, furniture and equipment designed for guests, professional photography, listings on Airbnb, Booking and direct booking, dynamic pricing.
04
Guests, in-person check-ins, cleaning, maintenance, guest registration and monthly statements. One flat commission on income, no lock-in. You block the dates you want to use.
Yield analysis · free · 48 h
We send you an analysis with the rate and occupancy we see in that area, set-up costs, the licence situation and an estimated net yield. No obligation.
Who We Are
Holidays Malaga is Francisco and Isabel Tolosa, siblings and founders. We're not a franchise or a call centre: we live in the Axarquía, do the check-ins ourselves and answer the phone personally. When you hand us your house, you know exactly who is looking after it.
Francisco Tolosa
Co-founder. Pricing, sales channels and owner relations. Previously at Tesla and Red Bull.
Isabel Tolosa
Co-founder. Operations, guests and getting houses guest-ready. Previously at Airbnb.
Avda. de la Torre 63, Rincón de la Victoria (Málaga)
Licence, moratorium and management: related guides
Frequently Asked Questions
It can be if you buy the right product in the right area: walking distance to the beach or with a pool and views, with a registered or clearly obtainable licence and in a building with no veto. Long-term letting yields 4.2% gross in the province (Fotocasa, Q2 2026), so a well-chosen holiday let usually wins; a badly chosen one, an inward-facing flat far from demand, does not. Each case is calculated: that is why we offer the analysis of the specific property.
We do not publish generic figures because they would be false: yield depends on the price paid, the exact location, refurbishment, licence and management. Use our open calculator with your numbers or ask us for the analysis of the property you are looking at and we give you the estimate for that case.
In towns under pressure (Nerja, and Rincón if it approves its by-law) it usually pays to spend a little more on a registered, active licence, provided you check it is in the seller's name, describes that property and can be transferred. In Vélez-Málaga or Torrox, where there are no restrictions, the premium is smaller.
Yes. Since April 2025 (Organic Law 1/2025) an express three-fifths community vote is needed to put a home to tourist use, and the regional government requires the certificate to register it. Before buying a flat, ask for the statutes and the latest minutes. A detached house does not have this problem.
As of September 2026, no: no town in the Axarquía has approved a moratorium. Málaga city has (suspension of new licences since August 2025). Rincón de la Victoria announced a by-law in 2024 to limit them, with no record of approval. We keep the status by town in our moratorium article.
You need an NIE and a Spanish bank account to buy, and you pay tax on rental income through Modelo 210: EU/EEA residents pay 19% on net income (with deductible expenses); everyone else 24% on gross. We explain it in our tax guide for non-residents. A gestoría from the start is advisable.
Beyond the 7% ITP and purchase costs, budget for full furnishing (€9,500-11,500 for a 70 m² flat according to RealAdvisor), appliances, smart lock, photography and licence paperwork. For a house with garden and pool, considerably more.
Yes. For blocks of several apartments we study both commission-based management and a guaranteed rent (fixed monthly income), and honestly recommend whichever suits the building. Write to us with the property details.
General guidance as of September 2026, prepared from the public data cited in each section. It is not financial, tax or legal advice. A property's yield depends on its specific characteristics and on rules that change frequently.
Already own the property?
Then what you need is the owners section: how we manage, in which towns and what yours could earn.
Send us the listing link and within 48 hours you will have a yield analysis with real data for the area. Free and without obligation.
