This Emirate nation is indeed known for the glitz, the glamour and the lavish lifestyle, off plan projects in Dubai therefore it’s easy to ascertain that this nation is quite pricey. Thus, you’ll be surprised to know that according to Mercer’s 2017 Cost of Living Survey, Dubai is now the 20th most expensive city in the world to live in. So one thing is for sure, Dubai is certainly cheaper than we thought! Let’s take a look.
1: Currency Converter
Let’s start with the basics. When calculating, 1 US is equal to 3.67 AED (United Arab Emirates Dirham). Also, 1 Pound equates to 4.67 AED.
Due to the fact that oil is in abundance, transportation via taxi isn’t as expensive as you’ll think and certainly isn’t as expensive when compared to other top-tier cities. 5 miles would generally cost you around 26.09 AED depending on where you are coming from but the departure from the airport is a little costlier.
With fares starting at 2 AED at the metro, this is also terribly cheap. Not to mention that you’ll pay around 6.50 AED to have access to all of the zones. On the other hand, if you are really pinching your pennies, the trams are even cheaper, only setting you back by 3 AED per ride. In general, you can spend about 250 AED per month in transportation in Dubai which is quite low when compared to London where you would spend 607 AED or even New York where you can spend 430 AED per month.
Rent in Dubai is indeed one of the costliest expenses that you’ll have to deal with when living in this emirate and due to the ever-rising Dubai property market; you’ll have a wide range of Dubai properties for sale. But as with every property on the market, cost really boils down to where you intend to reside.
If you wish to reside in the heart of the city, you can expect your average monthly cost to be much higher than if you lived further away from town. For instance, a one-bedroom dwelling within the city has an average cost of 7,345 AED per month when compared to a one-bedroom apartment outside of the city for a total of 5,043 AED per month.
With flexible payment plans, investing in new real estate projects like the Bluewaters Residences & Emaar Beachfront apartments is also not that expensive, as many people think it is. Not only is it affordable, but your investment will also prove to be quite profitable In the long run.
In the end, with pretty decent average salaries, your average spend really boils down to what is important to you. Therefore, you can find accommodation and transportation to be very reasonable especially when you live within your means. After all, yes, it is true that Dubai has the appearance of being costly but when you do the math and convert it to rates that you are more familiar with, it’s astonishing to see how affordable it truly is.