Think Dubai rents are too high? Check out the other tenants who have it even worse
Dubai is still deemed as one of the world’s costliest places to rent a flat out. But those who reside in Dubai must see it as a blessing rather than as something to complain of because there are other tenants who would love to trade places with those that live in Dubai as their rents are much higher than what we can take into account what Dubai costs.
A two bedroom apartment in Dubai can cost an average of AED 6,563 a month. This amount is definitely costly for breadwinners with a salary of single digits. There, however, is some comfort for the tenant’s of Dubai when they get to know how much it actually costs to stay in other cities.
Dubai ranks in 14th place amongst that of the top 50 major cities all around the world this year. The report comes in from the Deutsche Bank’s latest Mapping the World’s Prices report.
The rents alone eat up a huge chunk of the budgets of the households. In 2017 alone the total amount of the rents that were paid had totaled up to AED 300 billion. That cumulative amount is all it takes to construct 12 mega-sized shopping malls.
Ranking number one is Hong Kong. It is by far the world’s most expensive city for tenants. Not only that but the expenditures are even bigger. A month of room rent in this city will set you back by about AED 13,736. And that average figure is twice more than that of the average cost for what a two bedroom would cost.
Cities like San Francisco, Paris and London don’t come any cheap either. Over here too one will have to fork out much more than what they complain in Dubai. The monthly rents here are quite expensive too.
But the good news for the tenants who live in Dubai is that the place is actually affordable apart from the room rent. This is because of the rates of everyday things such as petrol and food relatively cheaper as compared to other cities. Hence the residents who reside in Dubai have a much more disposable income or call it savings if you may when compared to tenants who reside in other cities.
Another good news is that the rent has started to come down in the recent years in Dubai. And due to the pressure this year as well as with a lot more properties that are available to be sold, the rates will come lower for the year 2018. It is been reported that the villa rates have been dropped by 10.15 percent.
