If you are considering buy to let in Spain, the Costa Cálida (Murcia region) and the Costa Almería (eastern Andalucía) are two of the best-value coastlines for a first investment. Entry prices are markedly lower than on the Costa del Sol, and realistic gross rental yields sit in the 5–7% range for well-located apartments — with the potential to reach 8%+ on short-term holiday lets during the long summer season. Net of costs and taxes, expect the true figure to land nearer 3.5–5%, which is still competitive against most northern European markets.
The two decisions that make or break your return are (1) understanding the ~11–13% you must budget on top of the purchase price, and (2) knowing the tourist-licence rules, which differ between Murcia and Andalucía. This guide gives you the concrete numbers, a region-by-region yield comparison across all four Mediter coasts, and an honest look at the risks before you commit.
Both coastlines share the same core appeal: strong year-round sunshine, growing airport connectivity, and prices that are typically 30–50% below equivalent Costa del Sol stock. The Costa Cálida centres on the Mar Menor (San Javier, Los Alcázares, La Manga) and the resort belt around Mazarrón and Águilas, served by Región de Murcia International Airport (Corvera). The Costa Almería runs from Vera and Mojácar down through Almería city to the Cabo de Gata natural park, with Almería Airport plus easy reach of Murcia-Corvera.
For an investor, lower entry prices mean the same rental income produces a higher percentage yield — which is exactly why these two coasts often outperform the more famous Costa del Sol on paper.
Rental yield Costa Cálida and property investment Costa Almería returns depend heavily on location, whether you let long-term or short-term (holiday), and how many weeks a year you can actually fill. The table below shows realistic gross yield ranges (annual rent ÷ purchase price) across the four Mediter regions for a typical 2-bed coastal apartment.
| Region | Typical 2-bed entry price | Long-let gross yield | Holiday-let gross yield | Season length |
|---|---|---|---|---|
| Costa Cálida (Murcia) | €120,000–€200,000 | 4.5–6% | 6–8% | Long (Mar Menor micro-climate) |
| Costa Almería | €110,000–€190,000 | 4.5–6% | 6–8% | Very long, mild winters |
| Costa Blanca (Alicante) | €150,000–€260,000 | 4–5.5% | 5.5–7.5% | Long, strong tourist demand |
| Costa del Sol (Málaga) | €230,000–€400,000+ | 3.5–5% | 5–7% | Longest, premium market |
Note how the higher entry prices on the Costa del Sol compress the percentage yield, even though total euro rents are higher. The Costa Cálida and Costa Almería reward investors chasing yield rather than trophy capital growth.
A quoted 7% gross can easily become 4% net once you subtract:
Whatever your target yield, the purchase costs eat into your first-year return, so factor them in from day one. The headline difference between the two coasts is the transfer tax: the Costa Cálida sits in the Region of Murcia, while the Costa Almería is in Andalucía.
| Cost item | Costa Cálida (Murcia) | Costa Almería (Andalucía) |
|---|---|---|
| ITP transfer tax (resale) | ~8% (≈ €14,400) | ~7% (≈ €12,600) |
| Notary fees | ~€600–€1,000 | ~€600–€1,000 |
| Land Registry | ~€400–€700 | ~€400–€700 |
| Lawyer (legal due diligence) | ~€1,800 (≈1% + VAT) | ~€1,800 (≈1% + VAT) |
| Typical total add-on | ~10–11% | ~9–10% |
Important: ITP is the tax on resale homes. If you buy a new build instead, you pay 10% IVA (VAT) plus AJD stamp duty — currently around 1.5% in Murcia and around 1.2% in Andalucía. Regional rates and any first-time or investment reliefs can change, so always confirm the applicable percentage with your lawyer before signing. As a planning rule of thumb, budget 11–13% of the purchase price in extra costs.
Yes — if you want legal holiday let income in Spain, you must register short-term rentals. The rules differ by autonomous community, and enforcement has tightened in both regions.
Short-term tourist rentals ("viviendas de uso turístico") must be registered with the regional tourism authority and comply with minimum standards (habitability certificate, first-aid kit, complaint sheets, guest details reported to the police platform, etc.). You receive a registration number that must appear in all advertising. Some communities of owners can now restrict or ban tourist letting via their statutes, so check the comunidad rules before you buy.
Andalucía requires registration as a Vivienda con Fines Turísticos (VFT) in the Registro de Turismo de Andalucía, with minimum requirements (air conditioning in summer, heating in winter, guest information, cleaning between stays, etc.). Again, the registration code must be shown in listings, and guest data must be submitted to the authorities. Andalucía has also introduced measures allowing municipalities and communities to limit tourist lets in saturated areas.
In both regions, letting without registration risks fines and removal from platforms like Airbnb and Booking.com. Building this into your model matters: a property that cannot obtain a licence may only be viable as a long-term let, which changes the yield.
As a non-resident landlord you pay Spanish tax on the rental income under the Non-Resident Income Tax (IRNR):
Returns are filed quarterly when the property is let. You will also need a NIE (Spanish foreigner ID number) to buy and to register for tax. Tax treatment can change, so take advice from a Spanish gestor or tax adviser tailored to your residency.
These figures are illustrative — always model your specific property with a local adviser.
Choose the Costa Cálida if you want the Mar Menor's warm, shallow waters, strong Spanish domestic weekend demand and proximity to Murcia's golf resorts. Choose the Costa Almería if you value the wildness of Cabo de Gata, characterful spots like Mojácar and Vera, lower crowds and some of Spain's mildest winters (helping to extend the letting season). Both offer entry prices well below the Costa del Sol, which is why yield-driven investors keep returning to them.
Expect roughly 4.5–6% gross for a long-term let and 6–8% gross for a well-run, licensed holiday let. Net yields typically fall to around 3.5–5% after community fees, IBI, management and tax.
It can be, thanks to low entry prices (from around €110,000 for a 2-bed) and long letting seasons. The key is buying in a licence-friendly location with genuine year-round demand and modelling net — not just gross — returns.
Budget 11–13%. On the Costa Cálida (Murcia) resale ITP is around 8%; on the Costa Almería (Andalucía) it is around 7%. New builds pay 10% IVA plus AJD stamp duty instead. Add notary, registry and lawyer fees.
Yes. The Costa Cálida requires registration with Murcia's tourism authority; the Costa Almería requires a Vivienda con Fines Turísticos (VFT) registration in Andalucía. The registration number must appear in your advertising, and letting without it risks fines.
EU/EEA residents pay 19% on net profit with deductible expenses. Non-EU residents (including UK) pay 24% on gross income with no deductions. You'll need an NIE and must file returns for periods the property is let.
Yes — Spanish banks typically lend non-residents around 60–70% of the valuation, subject to affordability. Rental projections may support the application, but terms vary by lender and residency.
Whether you're weighing the Mar Menor's warm-water resorts or the Costa Almería's mild-winter coast, Mediter Real Estate can help you find licence-ready, income-focused property and model the real numbers before you commit. Contact our team today to discuss buy-to-let opportunities across the Costa Cálida, Costa Almería, Costa Blanca and Costa del Sol.
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