Dubai, with its various means of entertainment, luxury of living, and thriving economy, is considered as one of the most expensive Arabian cities to live in. In spite of that Dubai still the main destination to many job seekers as it offers a good opportunity to a good life with the tax-free system (so far). If you are planning a move to Dubai, we advise you to do math well on what are your probable monthly expenses.
It’s easy to get lured by various advertisements or hearsay about Dubai as an amazing destination. Even friends you might see on social media might post that they are “living the dream” in Dubai. But you should also face reality and see to it that you don’t get swayed into material possessions as well as think of Dubai as a place for enjoyment only.
Money Talk: Monthly Expenses in Dubai
If you’re coming to Dubai for work, remember that you are going to be an expat because of that. So never lose sight of your goals and see to it that you are aware of your monthly expenses as well as the basic cost of living.
Dirham, the local currency of the UAE, is divided into 100 fils and is set at a rate of $1,00 – AED 3.67.
Finding a good accommodation is the biggest challenging thing here, most rental contracts have validity for one year, it’s required to pay upfront and also pay a deposit. It can cost you around AED 100,000 to AED 200,000 per year to find a good apartment with a single or double bedroom depend on the location, while you can find a cheaper studio from AED 50,000 to 100,000.
In Dubai, there are various means of transportation, you can find the Metro, buses, taxis, it can cost you around AED 30 for a 5-mile trip by taxi. It’s better to buy a modest car in the long-term.
The cost of food in Dubai isn’t too high, but for sure dining out in an expensive restaurant will cost you a lot. You can still eat many delicious dishes for AED 35 to AED 90.If you want to save more, you can try cook at your home.
Dubai has the biggest mall in the world and many retail stores. It costs you around AED 300 to buy a jeans, around 200 for a summer dress, around AED 350 for a pair of sport shoes, around AED 400 for men’s leather shoes.
Increasing Cost of Living
Through the following years, even if the cost of living keep rising but Dubai will still an attraction to expats who aims after the good quality of living.
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These are important things to consider when you plan to become an expat in Dubai. Don’t be afraid to list these items down. It’s better to be financially prepared so that when you also apply for a job here, you should not be swayed with incentives and promises of commission. Go back to the basic and compute your possible expenses and use the information to explain why you need a better basic salary before accepting that job offer.