Stop guessing. See your exact net return — after every tax, fee, and running cost — before you commit to any property in Spain or Dubai.
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Spain
Dubai0% tax
PortugalSoon
ItalySoon
GreeceSoon
Trusted by buyers & agents — Costa del Sol, Madrid, Dubai Marina, Business Bay
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Property
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You
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Finance
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Rental
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Costs
Property Details
The right numbers depend on the right inputs — purchase price, location, and property type.
🇪🇸 Spain — All 17 autonomous communities. EU / Non-EU tax rates calculated automatically.
🇦🇪 Dubai — 0% income tax on rental income. 0% capital gains tax. Results in AED with EUR equivalent.
Resale
New Build
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Ready to move in
Off-plan
Please select one
Off-plan: No rental income during construction (typically 2–4 years). DLD 4% applies on full purchase price at signing. Developers sometimes waive or halve DLD as a sales incentive. Payment plan split shown in your results.
Freehold
Leasehold
Leasehold: You own the property for a fixed term (typically 99 years), not the land. Resale can be more complex and appreciation lower than freehold. International investors generally prefer freehold zones.
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Studio
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Apartment
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Townhouse
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Villa
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4+
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About You
Your tax residency affects your investment return significantly.
EU Resident
Non-EU
Spanish Resident
This significantly affects your tax calculation
Note: Non-EU residents pay 24% tax on net rental income. EU/EEA residents pay 19% on net income. Both can deduct expenses. The rate difference typically amounts to €500-1,500/year depending on the property. Following the July 2025 Audiencia Nacional ruling, non-EU residents now have the same deduction rights as EU residents.
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0% Income Tax on Rental Income
Dubai charges zero income tax on rental income — regardless of your nationality or residency status. Every dirham of rental profit is yours to keep. This applies to short-term, long-term, and mixed strategies.
0% Capital Gains Tax too. When you sell, you keep the entire profit — no CGT, no municipal gains tax, no withholding. The UAE has no personal income or capital gains tax system.
Financing
Cash or mortgage changes your real return significantly. We model the exact impact.
Cash (no mortgage)
Mortgage
Cash purchase — no mortgage costs
Your ROI is calculated on the full purchase price plus buying costs. No interest payments, no LTV constraints. ROE equals ROI since all equity is your own cash.
Rental Income
Short-term, long-term, or mixed — we calculate income and tax for each strategy.
Short-term
Long-term
Mixed
Furnished (+10% rental premium)
Furnished long-term months (+10% rental premium)
Running Costs
We've pre-filled realistic market defaults. Adjust any figure to match your property.
✓ 0% income tax on rental income ✓ 0% annual property tax ✓ 0% capital gains tax on sale
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Kitchen, bathrooms, furniture, appliances, decor — anything before first rental
Dubai charges zero income tax on rental income and zero capital gains tax. The return below is your real return — nothing withheld.
Your quick estimate
Run your calculation to see your personalised estimate.
Money you earn (rent)
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— per year
— % of the cash you put in
What's left in your pocket after all costs and tax.
Money you gain (value)
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— per year on average
— % of the cash you put in
From the property rising in value and your mortgage shrinking. Before selling costs and tax.
This property
0%
Complete the calculation to see your combined return.
Cash you put in: —
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Monthly Cashflow
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before mortgage
Total Investment
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purchase + all costs
Equity Required
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your cash in the deal
vs. Alternative Investments
This property
0%
S&P 500 avg
10%
EU Bond Fund
4%
Total Investment Required
Purchase price€0
Buying taxes & fees ?€0
Renovation / furnishing€0
Total investment€0
Your equity invested ?Down payment + all buying costs (including legal fee) + renovation budget. This is your actual cash in the deal — the denominator for ROE calculations.€0
Return on Your Cash (ROE) ?ROE measures how hard your actual cash is working. It combines three sources of return: the property growing in value, rental profit after all costs, and mortgage principal building your equity. This is the number sophisticated investors care about most.
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annual return on your equity
Capital growth0%
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Net cashflow0%
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Debt reduction ?Each mortgage payment includes principal that reduces your loan balance. This increases your net equity — it's a return you're building, even though it's not cash in hand.0%
€0/yr
Equity invested: €0
IRR (Internal Rate of Return) ?IRR measures your annualised return accounting for when cash flows occur — purchase costs going out, rental income coming in, and eventual sale proceeds. The most accurate way to compare property against other investments like index funds.0%
Your Growing Net Worth — 5-Year Projection
Each bar = property value − remaining loan + cumulative cash. Bars grow because the asset appreciates and debt shrinks every year.
Send updated resultsGet a fresh copy with your latest inputs.
Your detailed numbers
Every cost, tax and return figure behind the estimate above.
Open to hearing from local property agencies
Interested in mortgage options
The full investment report
What you keep when you sell — and which strategy pays more
✓ Every buying cost itemised — transfer tax, notary, fees
✓ Full tax breakdown — Spain deductions or Dubai 0% advantage
✓ All running costs line by line with annual totals
✓ 10-year cash flow projection with break-even point
✓ 5-year exit scenario — profit after all taxes and costs
✓ STR vs LTR vs mixed — side-by-side strategy comparison
Legal fee (1%) ?Independent lawyer to review contracts, verify property status, and protect your interests. Required for overseas purchases. Typically 1% of purchase price.€0
Annual Tax Detail Yearly€0▸
Non-resident income tax ?EU: 19% on net. Non-EU: 24% on net. Both deduct expenses. Spanish resident: progressive 19-23%.€0
Depreciation deduction ?EU residents deduct 3% of construction value annually from taxable rental income. A tax benefit, not a cost.€0
Imputed income tax ?Tax on personal use days. 1.1% of cadastral value × days ÷ 365 × your tax rate.€0
Running Costs Annual totals€0▸
Community fees monthly?Paid monthly. Covers shared areas, pool, lift, gardens. €50-400+/month.€0
Property tax — IBI annual?Municipal tax based on cadastral value. Rate 0.4-1.1%.€0
Waste tax annual€0
Insurance annual?Building, contents, and liability. €200-700/year.€0
Maintenance annual?Budget 0.5-1% of property value per year for repairs.€0
Management annual?Property manager: 15-25% of gross income for STR, 8-10% for LTR.€0
Booking platform fee annual?OTA commission (Airbnb, Booking.com etc.) charged on gross revenue. Shown separately from management fee for transparency.€0
10-Year Cash Flow Projection▸
Year
Gross Income
Costs
Tax
Net Income
Cumulative
5-Year Exit Scenario€0▸
Sale price (3%/yr growth)€0
Rental profit (5 years)€0
Renovation invested€0
Capital gains tax ?Progressive: 19% first €6k, 21% €6k-50k, 23% above. Renovation reduces taxable gain.€0
Municipal gains tax ?Plusvalía: ~0.5% of purchase price estimate.€0
Selling costs (~4%) ?Agent commission 3-5% plus legal fees and energy certificate.€0
Rental Strategy Comparison▸
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Long-term
Mixed
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Spain
How to calculate the real return on Spanish rental property
Most yield figures you see online are gross yield — annual rent divided by purchase price. The real return is significantly lower once you factor in purchase costs (8-9% on top), annual running costs, and taxes. This calculator does the full calculation for your specific situation, including regional tax rates and residency status.
Property purchase costs in Spain by region
Transfer tax (ITP) varies from 6% to 11% depending on the autonomous community. Andalucia charges 7%, Madrid 6%, Catalonia 10-11%. On top of ITP, budget for notary (~€850), land registry (~€550), gestoria (~€400), and lawyer fees (typically 1% + IVA). Total buying costs are usually 8-9% above the listing price.
How residency status affects your rental income tax in Spain
EU/EEA residents pay 19% income tax on net rental profit — after deducting expenses like community fees, insurance, IBI, maintenance, and property management. Following the July 2025 Audiencia Nacional ruling, non-EU residents (including British buyers post-Brexit) now also deduct expenses, but pay 24% on net income. The rate difference typically amounts to €500-1,500 per year depending on the property — a significant improvement from the previous system where non-EU investors paid 24% on gross with no deductions.
What is IRR and why it matters for property investment
IRR (Internal Rate of Return) measures your annualised return accounting for the timing of every cash flow — purchase costs going out, rental income coming in, and eventual sale proceeds. Unlike simple yield, IRR lets you compare property directly against index funds or other investments on equal terms. A property with 3.7% net yield can have a much higher IRR if you are using leverage.
Gross yield vs net yield vs ROE — what's the difference?
Gross yield is annual rent divided by purchase price — the number agents quote. Net yield subtracts all running costs and taxes. ROE (Return on Equity) measures your return on the cash you actually invested — if you used a mortgage, this can be significantly higher than net yield because of leverage. This calculator shows all three so you can compare properly.
Short-term vs long-term rental in Spain
Short-term (Airbnb) typically generates higher gross income but comes with higher costs — cleaning, platform fees, furnishing, management — and increasing regulatory risk. Barcelona has frozen new tourist licences. Long-term rental has lower returns but more stability and simpler tax treatment. Mixed strategies (rent short-term in summer, long-term in winter) can optimise returns but add complexity.
Dubai
How Dubai property returns actually work
Dubai is the rare market where the headline yield and the net yield sit close together. There is no income tax on rental income, no capital gains tax when you sell, and no annual property tax. What separates gross from net is operating cost — service charges, management, maintenance and, if you let short-term, platform commission. For a one-bedroom in Dubai Marina bought at AED 1.5M, expect roughly AED 14,000–18,000 a year in service charges before any other cost. That, not tax, is the number that decides your return.
Dubai buying costs: what you pay on top of the price
Budget 6–8% above the purchase price. The Dubai Land Department transfer fee is 4%, agency commission is typically 2%, and the DLD trustee office charges a flat fee around AED 4,000 plus roughly AED 520 for title deed issuance. If you are financing, mortgage registration adds 0.25% of the loan. Conveyancing or legal review usually runs about 1%. On a AED 1.5M apartment that is approximately AED 105,000 in acquisition costs — materially less than Spain, where transfer tax alone can reach 10% in some regions.
Off-plan vs ready: the trade-off nobody prices properly
Off-plan buys you a lower entry price and a staged payment plan, and developers sometimes absorb part or all of the 4% DLD fee as an incentive. What it costs you is income: there is no rent during construction, typically two to four years. A property yielding 6% that sits empty for three years has given up roughly 18% of its purchase price in foregone income before a single tenant moves in. That can still be the right decision if the capital appreciation over the build period exceeds it — but it is a bet on price growth, not a yield play, and should be modelled as one.
Freehold vs leasehold zones
In designated freehold areas — Dubai Marina, Downtown, Palm Jumeirah, JBR, Business Bay, JVC, Dubai Hills, Arabian Ranches, Creek Harbour, DIFC — foreign nationals own the property and the land outright, in perpetuity. Leasehold grants use for a fixed term, commonly 99 years, with the land retained by the freeholder. Freehold resells more easily, appeals to a wider buyer pool and generally appreciates more reliably. For most international investors the premium is worth paying.
Service charges by area — the cost that decides your yield
Service charges are billed per square foot per year and vary more than buyers expect. JVC sits around AED 11/sqft, Business Bay near AED 16, Dubai Marina and JBR around AED 19–20, Downtown about AED 22, and DIFC AED 25 or higher. Towers with chilled-water districts, extensive amenities or beach access sit at the top of that range. On a 1,200 sqft two-bedroom the difference between JVC and DIFC is roughly AED 17,000 a year — enough to move net yield by well over a percentage point on identical rent.
Dubai vs Spain: which produces the better net return?
Dubai usually wins on net yield; Spain often wins on financing and stability. Dubai's 0% income tax means a property grossing 7% can net close to 5% after costs. In Spain, the same gross yield loses 19% of net rental income to tax for EU and — since the 2025 rulings — non-EU residents alike, plus IBI, community fees and waste tax. Against that, Spanish mortgages are cheaper and run to higher loan-to-value: 70–80% at around 3.5% versus roughly 50% at 5.5% for non-resident buyers in Dubai. Higher leverage at a lower rate can lift return on equity enough to close the gap. The honest answer depends on your cash position and whether you are optimising for income or for leveraged equity growth — which is precisely what this calculator is built to settle.
Tax rates, transfer duties and market defaults last reviewed . Spanish figures reflect the 2025 Audiencia Nacional and Supreme Court rulings on non-resident deductions. Dubai figures reflect current DLD fee schedules.
Frequently Asked Questions
Do I pay tax on rental income from a Dubai property?
No. The UAE charges no personal income tax on rental income and no capital gains tax on sale, regardless of your nationality or where you are tax resident. There is also no annual property tax. You should still check your obligations in your country of tax residence, as some countries tax worldwide income.
What are the total buying costs for a Dubai property?
Typically 6-8% above the purchase price: DLD transfer fee 4%, agency commission around 2%, trustee office fee approximately AED 4,000, title deed issuance around AED 520, plus roughly 1% for legal work. Mortgage registration adds 0.25% of the loan amount if you are financing.
Is off-plan or ready property the better investment in Dubai?
Off-plan offers a lower entry price, staged payments and occasional DLD fee waivers, but generates no rental income during construction — usually two to four years. Ready property starts earning immediately at a higher price. The calculator models both so you can see the real cost of the income you forgo while waiting.
Spain or Dubai — which gives the better return?
Dubai generally produces a higher net yield because there is no income tax or capital gains tax. Spain often delivers stronger return on equity because mortgages are cheaper and loan-to-value is higher — roughly 70-80% at about 3.5%, against around 50% at 5.5% for non-residents in Dubai. Which wins depends on your cash position and whether you are optimising for income or leveraged growth. Run both and compare.
How accurate are the tax calculations?
We use official tax rates for all 17 Spanish autonomous communities, updated annually. This includes transfer tax, document tax, non-resident income tax, and annual property taxes — each calculated per your specific region. Rates reflect 2025-2026 legislation. Always verify final figures with a local tax advisor before purchasing.
Is the calculator really free?
Yes. The full calculation with accurate tax logic, rental income estimates, and investment comparison is completely free. For the full investment report — 10-year projections, exit scenarios, and strategy comparison — a one-time payment of €4.99 applies.
Which Spanish regions are covered?
All 17 autonomous communities — from Andalucía and Cataluña to the Balearic and Canary Islands. Each region has its own transfer tax rates, and we calculate them individually. Within each region, you can select from 3 price zones for more accurate rental estimates.
How is this different from a spreadsheet?
Spreadsheets require you to research every tax rate, know the difference between EU and non-EU investor treatment, and keep up with regulation changes. PropROI does all of this automatically — with pre-filled regional defaults, occupancy benchmarks, and instant calculations you can adjust in real time.
Do you share my data with third parties?
Only if you explicitly opt in. When downloading your report, you'll see optional checkboxes to hear from local property agencies or mortgage brokers. These are unchecked by default. Your email and calculation data are never shared without your consent.
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Last updated: April 2026
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PropROI.eu provides a property investment calculator that estimates returns based on user inputs and publicly available tax data. The tool is for informational purposes only.
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PropROI does not provide financial, tax, or legal advice. Calculations are estimates based on general tax rates and market data. Always consult a qualified tax advisor, lawyer, or financial professional before making investment decisions.
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Spain
Dubai0% tax
PortugalSoon
ItalySoon
GreeceSoon