A let property is a good investment only if it still pays after costs, empty months and tax. We calculate that before you buy, in Budapest, Dubai and on the Costa del Sol.
Enter the details of the property you have in mind. Alongside gross yield, the calculator shows what's left after costs and empty months, and how many years it takes to pay back.
Costs exceed income. On these numbers, letting the property makes a loss.
Excludes tax (15% personal income tax in Hungary as a rule), financing costs, furnishing and any change in the property's value. The sample values are estimates, not an offer.
In a personal analysis we also cover tax, financing and exit options, with several scenarios.
Request a personal analysisEach market suits a different goal. What matters is not which is “best”, but which fits your aim, your time horizon and your currency.
| Aspect |  BudapestHungary |
 DubaiUnited Arab Emirates |
 Costa del SolSpain |
|---|---|---|---|
| Paid on purchase | 4% transfer duty | 4% DLD registration fee, as a rule | 7% ITP on resale; on new builds VAT and stamp duty |
| Annual property tax | Depends on the municipality | No annual property tax; annual service charge applies | IBI local property tax each year |
| Tax on rental income | 15% income tax on long-term letting, as a rule | No UAE personal income tax; your home-country tax residence must be checked separately | Taxable locally even as a non-resident |
| Currency | Forint | Dirham, pegged to the US dollar | Euro |
| Financing | Bank mortgage, with at least 20% down | Often developer payment plans, off-plan structures | Spanish mortgage, own funds, or both |
| Access from Budapest | Local | About 5.5 hours on a direct flight | Direct flights to Málaga |
| Typical aim | Long-term letting, preserving value, own use | Higher gross yield, international diversification | Second home, seasonal letting |
| Watch out for | Short-let rules may tighten district by district | Supply waves in some areas, currency risk | Seasonality, licence needed for holiday lets |
Indicative comparison, 2026. We always assess tax for your specific situation, with a tax adviser where needed. More in our Journal.
For every figure we state where it comes from and the period it covers. Fees and taxes can change, so we check them again before any offer.
Budapestannual nominal rise in Budapest home prices in Q4 2025 (nationally +23.5%)
MNB house price index, Q4 2025average overvaluation in Budapest by the central bank's estimate, a record for the series
MNB Housing Market Report, June 2026transfer duty on the purchase price, as a rule
Hungarian Duties Act, 2026personal income tax on residential rental income, as a rule
Hungarian Personal Income Tax Act, 2026
Dubaiaverage gross residential yield; higher in some districts and for smaller units
Global Property Guide, May 2026DLD transfer fee on the price or DLD valuation (whichever is higher); Oqood registration for off-plan
Dubai Land Department, 2026AED + 5% VAT trustee office fee for properties over AED 500,000 (below that, AED 2,000 + VAT)
DLD fee schedule, 2026mortgage registration fee on the loan amount, plus an admin fee
DLD fee schedule, 2026
Costa del SolITP transfer tax on resale property in Andalusia (reduced rates in some main-home cases)
Junta de Andalucía, 2026IVA (VAT) on new-build homes, plus 1.2% AJD stamp duty
Spanish and Andalusian tax rules, 2026non-resident landlord tax: EU/EEA residents on net income after expenses, others on gross rent
Spanish non-resident income tax (IRNR), 2026annual local property tax, varying by municipality and cadastral value
Local municipal taxIndicative summary, not legal or tax advice. We review the tax position for your own situation (double taxation, residence) together with a tax adviser.
As part of the ARR Hungary group, we can arrange letting and management within the group. You choose how involved you want to be day to day.
The same team that helped you buy introduces you to the operator and hands over every detail of the property.
you'd let it short-term to guests, without handling the bookings yourself
Short-term letting and guest management for Budapest apartments.
you want a stable, longer-term tenant and a manager to look after the flat
Long and mid-term property management for owners.
you'd manage the letting yourself, with a clear digital tool
A digital platform for landlords, tenants and operators.
Behind every yield there is a real apartment. The tenant, the running costs and the way you let it all differ.
Every investment carries risk. We don't pretend it away; we name it in advance and manage it.
Between tenants, during works or in a weak season the property earns nothing, while costs keep running.
We also run a cautious scenario and suggest keeping a reserve of at least a few months' costs.
In Dubai you pay and earn in dirhams, in Spain in euros. Measured in forints or pounds, the result can swing.
We show what happens to the yield at different exchange rates, and whether that fits your goals.
Short-let rules in Budapest may tighten by district, and can change in other markets too.
We recommend properties that also work as long-term lets, not only as short lets.
With off-plan purchases, handover can slip and the finished home can differ from the brochure images.
We vet the developer and the contract. More under new developments.
When many new homes reach one area at once, rents and prices can grow more slowly.
We factor in planned completions nearby, not just today's rents.
A property can't be turned into cash in days. A sale can take months.
We think through the exit when you buy: who you could sell to, and when.
Building works, a boiler failure, replacing furniture. These cut straight into net yield.
Before buying, we review the building documents and the property's condition.
We don't start by recommending a property, but a strategy. Then we look at specific properties, if the numbers say it makes sense.
A longer conversation: how much capital, in which currency, for how long, with how much risk. Which matters more, monthly income or preserving value?
Realistic rents, occupancy, service charges and upkeep in the chosen areas, worked through on two or three actual properties.
Cautious, base and favourable cases. Currency effects, financing, tax in the country of purchase and at home, with a tax adviser where needed.
We walk you through the analysis. If you buy, we continue with buyer representation; if not, the analysis is yours to keep.
There's no set minimum. The real question is whether you'll still feel comfortable after paying the price, the purchase costs and a few months' reserve. We work that out together at the start.
Because it leaves out service charges, management fees, empty months, furnishing and tax. A 6% gross yield can easily become around 3–4% net, which is why we always work with net figures.
Dubai has no annual property tax or personal income tax, but there is the 4% DLD fee and an annual service charge, and your tax residence at home may still require you to declare the income. We review this with a tax adviser.
No. Nobody can honestly guarantee a property return. If a developer offers a guaranteed yield, we look at who pays it, from what, and what happens when the guarantee ends.
You decide. You can do it yourself, or members of the ARR Hungary group, Budapest Residence (short-term) and Rentify (long-term), can take it on. Abroad we recommend a local manager.
Our articles on all three markets, with updated figures and sources.
All articles
Realistic 2026 yields, what Dubai's rent rules allow, what a DET holiday home permit costs, and when short-term letting pays off on a Marina apartment.
Tax on selling property in Hungary in 2026: 15% income tax, deductible costs, the five-year taper table and two worked HUF examples. See what you would owe.
Marbella, Estepona, Benahavís, Mijas, Fuengirola, Málaga and Nerja compared: 2026 prices per m², character, and who each town really works for.
A listing link or an address is enough. We check the realistic rent, the costs and the risks, and tell you honestly what we think.
