In the United Arab Emirates (UAE), property prices in popular areas such as Dubai Marina and Palm Jumeirah are notably competitive when compared to other tax-free destinations worldwide.
What distinguishes Dubai and Abu Dhabi is not only the fact that there is no income tax or inheritance tax, but also the combination of a high standard of living, safety, and modern infrastructure.
In districts such as DIFC, Palm Jumeirah and Downtown Dubai, luxury apartments cost on average between 6,000 and 8,000 AED per m2. This places them at a similar level to prime locations in London such as Belgravia and Kensington, where prices can reach approximately 7,700 AED per m2.
However, the key difference lies in the associated costs. The UAE remains a tax-free jurisdiction, which can result in higher net returns for investors.
Other Tax Havens Are More Expensive and Less Attractive
When considering alternative tax-free or tax-friendly countries, the higher costs and limitations quickly become apparent. In Singapore, for example, foreign buyers face additional taxes of up to 60%, while prices in popular districts are already between 9,000 and 10,000 AED per m2.
In the Cayman Islands, you can also expect to pay between 9,500 and 11,000 AED per m2 for waterfront property, while the amenities there are more limited.
Monaco tops the list with property prices exceeding 20,000 AED per m2, making it one of the most expensive markets in the world. In contrast, Dubai and Abu Dhabi offer international flight connections, modern amenities, and a stable political climate, making them a far more accessible option for high-net-worth individuals.
Edward Clarke is a seasoned property expert with extensive experience in international real estate investment, with a particular focus on Dubai’s fast-growing property market. Drawing on both personal investment experience and years of client advisory work, he helps investors make informed, realistic decisions when purchasing apartments, villas or off-plan developments in Dubai. With a pragmatic mindset, a sharp focus on returns and a strong commitment to transparency, Edward is a trusted point of contact for anyone considering a property investment in Dubai.
