Two towns in Almeria province have been ranked as the most profitable places in Spain to invest in buy-to-let property, bucking the national trend of falling rental yields.
According to Fotocasa’s latest property market report for the second quarter of 2026, El Ejido offers a rental yield of 12.2%, while nearby Adra follows on 12%.
They are two of four municipalities nationwide to achieve returns above 10%. They are Santa Coloma de Gramenet with 11.7% and Miranda de Ebro with 10.2%
The figures stand in stark contrast to the national picture.
Average rental yields across Spain have fallen to 5.7%, dropping below 6% for the first time in five years as soaring house prices outpace rental growth.
Across Andalucia, the average return is even lower at 4.9%, making it one of the least profitable regions in Spain for landlords, ahead of only the Balearic Islands.
According to Maria Matos, Fotocasa’s director of research and spokesperson, the decline in profitability is being driven by rapidly rising purchase prices.
‘Property values have continued to grow at double-digit rates due to strong demand and limited supply,’ she said.
‘Meanwhile, the rental market has begun to slow. Rents are no longer rising at the same pace and are even starting to moderate in some areas because tenants have reached the limit of what they can afford.’
Despite that national trend, El Ejido and Adra continue to offer exceptional returns thanks to a combination of relatively affordable purchase prices and strong demand for rental homes.
The report also found that 59% of Spanish municipalities now offer rental yields at or above the national average, although only four towns and cities exceed the 10% threshold – including the two municipalities in Almeria.
By region, Castilla-La Mancha recorded Spain’s highest average rental yield at 7.8%, followed by Aragon (7.5%), Extremadura and Castilla y Leon (6.9%), and the Valencian Community (6.6%).
At the opposite end of the table, San Sebastian recorded the country’s lowest rental return at just 3.1%.
Read more Andalucia news at the Spanish Eye.
