Short answer: buyers from Spain and Latin America can own freehold property in Dubai like any other foreign buyer. What changes is the home country side: Spain requires an annual declaration of foreign property above €50,000 and taxes residents on Dubai rent and gains, and Mexico, Brazil, Colombia and Argentina each have their own reporting and currency rules.
What Dubai property costs in euros and dollars
| What sold (median) | Dirhams | Euros | US dollars |
|---|---|---|---|
| Studio apartment | AED 657,040 | €159,911 | $178,908 |
| One bedroom apartment | AED 1,204,200 | €293,079 | $327,897 |
| Two bedroom apartment | AED 2,094,999 | €509,882 | $570,456 |
| Villa or townhouse | AED 3,416,640 | €831,543 | $930,331 |
| Golden Visa property threshold | AED 2,000,000 | €486,761 | $544,588 |
At European Central Bank reference rates on 13 October 2026, and the fixed rate of AED 3.6725 per US dollar.
If you live in Spain
- Modelo 720: declare foreign real estate when the combined value of that category exceeds €50,000. Since the 2022 ruling of the Court of Justice of the EU, ordinary penalties apply instead of the old punitive regime, but the duty to declare remains.
- Rent and sale: Spain taxes residents on Dubai rent and gains. The Spain UAE treaty gives a credit for UAE tax, and the UAE charges none, so Spanish tax applies in full.
- An empty home is not tax free: Spain taxes notional income on homes that are not rented, and tax advisers apply this to property abroad too. Ask your adviser how it applies to a Dubai holiday home.
- Large fortunes: Spain’s solidarity tax on net wealth above €3 million can include foreign property.
If you live in Latin America
| Country | What to know | UAE tax treaty |
|---|---|---|
| Mexico | Residents are taxed on worldwide income. Take advice on Mexico’s rules for income from low tax jurisdictions | In force since 2014 |
| Brazil | Declare foreign assets to the Central Bank (CBE) at US$1 million or more. Gains on foreign property are taxed at 15% to 22.5% | In force since 2021 |
| Colombia | File the foreign assets return (form 160) when foreign assets exceed 2,000 UVT | Signed 2017. Check whether it is in force |
| Argentina | Currency rules for moving dollars abroad changed three times between April 2025 and April 2026. Check the current rule before you wire | In force since 2019 |
The Dubai side: the same for every nationality
- Where you can buy: foreign nationals can own freehold property outright in Dubai’s designated freehold areas, which include most of the city’s main communities. See freehold vs non freehold in Dubai.
- Transfer fee: the Dubai Land Department charges 4% of the price, plus registration and agency fees.
- Off plan money: payments for off plan homes go into a project escrow account regulated under Dubai Law No. 8 of 2007.
- Tax in the UAE: individuals pay no annual property tax and no UAE income tax on rent or gains. Your home country may still tax them, which is what the rest of this guide is about.
- Residency: property worth AED 2 million or more can qualify you for the ten year Golden Visa. See the Golden Visa property threshold.
- Buying remotely: you can sign and pay from abroad, or appoint someone by power of attorney. A power of attorney signed outside the UAE must be notarised and legalised for use in Dubai, because the UAE does not accept apostilles.
- Mortgages: UAE banks lend to non residents, generally at 60% to 65% of the value, and most will not lend on off plan for non residents.
Talk to Cresco
Cresco Real Estate is a RERA registered brokerage in Dubai (ORN 34288) with an office in Los Angeles. We check what applies to your passport and home country before we show you a single property. Contact us to start.
Frequently asked questions
Can Spanish citizens buy property in Dubai?
Yes. Spanish nationals can own freehold property in Dubai’s designated areas. Spanish residents must declare it on Modelo 720 if foreign real estate exceeds €50,000.
Can Mexicans and Brazilians buy property in Dubai?
Yes. Latin American nationals can own freehold property in Dubai. Brazil requires a Central Bank declaration of foreign assets of US$1 million or more.
Does Spain tax Dubai rental income?
Yes, for Spanish residents. The Spain UAE treaty credits UAE tax, but the UAE charges none, so Spanish tax applies in full.
Method and limits
Dubai prices: Dubai Land Department register, sales registered 1 September to 11 October 2026, medians by unit type. Spain: Agencia Tributaria on Modelo 720 and imputed income (2026); Garrigues on Law 5/2022 and the solidarity tax; Spain UAE tax treaty text, Ministerio de Hacienda. Latin America: Jones Day on the Mexico UAE treaty; Migalhas and Capital Aberto on Brazil’s CBE and gains, 2026; DIAN on form 160; Argentina Ministry of Economy treaty list; EY, Buenos Aires Times and Beccar Varela on Argentine currency rules, 2025 to 2026. Euro rate: European Central Bank, 13 October 2026. Laws and tax rules change often. This is general information, not legal, tax or financial advice. Speak to a qualified adviser in your home country before you buy.