The Real Cost Of Living In The UAE For Expats
A highly desirable tax-free living in one of the worlds’ most vibrant cities is part of the reason why more than 50,000 Americans currently live in the UAE - the majority of which in Dubai. A successful career in finance, hospitality, business, and trade are just some of the others.
No doubt, the glittering cities of Dubai and Abu Dhabi are where East meets West, and families from all over the world are drawn to the country where there are virtually zero crime rates, a hot climate that makes outdoor activities and living a must, as well as excellent world-class hospitals and schools.
But while many of us that are thinking about the move, are probably also drawn to the cities because of their relatively high salaries (again tax-free) with average salaries around $4500 per month for entry-level office work, and this rises steadily for those working in finance, real estate or banking to well over a staggering $100 000 a month for the top earners.
For the most part, a salary of $100 000 a year is not unachievable and if you’re a couple, earning a combined yearly income of 200 000+ a year is not out of bounds. Now, while that is an attractive package no matter where you’re located, it does afford you a wonderful standard of living in the Emirates - but, with that being said, don’t be fooled by the posters featuring endless days drinking Champagne, driving Lamborghinis or wasting time at the Marina, while an enviable lifestyle is possible in Dubai and Abu Dhabi, you will still need to manage your finances and your expectations.
AVERAGE COST OF LIVING BREAKDOWN IN DUBAI (See more information, here)
For a single person, the average cost of living in Dubai (and is by and large the same in Abu Dhabi), you’re looking at around $ 938 a month, without rent and the average cost of an inner-city studio apartment is around $ 1,500 per month. A 5km taxi ride will set you back around $3,50 and a night out with a decent meal and some drinks will set you back around $ 50 - $100 depending on how fancy you want to go, you can spend a lot more than that.
For the average family of four, you should expect to spend around $ 4000 a month for rent, bills, transportation, and school (again, depending on the school and the location of your home or apartment).
PROPERTY RENTALS IN THE UAE
Remember that renting in the UAE works very differently from what you’re used to in the United States with many landlords requiring your yearly rent in advance and you’ll need to set aside 5% for your agent’s commission, 5% for your security deposit as well as deposits for water and electricity and internet services. Most banks will lend you this amount upfront depending on your work contract and salary expectations, otherwise, you may be able to negotiate up to six individual post-dated checks to cover that amount, but you’ll most likely be offered four payments.
Various online sources can help you with your property quest like this Real Estate Portal, so invest some time in independent research before you leave.
