Dubai has become a synonym of luxury lifestyle, but it’s not all shiny and bright looking at the soaring rents and school fees, constantly rising consumer prices versus minimal or no pay rises at all. The city isn’t exactly famous for its budget living and yet, more and more expats are coming, further contributing to the price hikes. So, is it possible to live well despite the non-matching income and local lifestyle? How can an average family afford Dubai’s cost of living?[wpsr_retweet]
Financial experts say Dubai is currently in a good economic state, allowing for new projects, developments and jobs to open. But how will this affect the average employee, which hasn’t seen a pay rise for, let’s say, several years? Sadly, Dubai’s success is now failing more and more expats who came here in the hope for better future. In fact, the majority of residents in the emirate are young expatriates with little children or youngsters with the prospects of starting a family soon. Singles find it easier to manage the rising costs, but for many families, often the only option is leaving. But why exactly Dubai, in which the rich, eccentric and fabulous lifestyle with expensive restaurants and high-end shopping malls have gained the status of a cult, is becoming less attractive to expats?
Unless you are among the few lucky ones to have your own home, the biggest factor is the rent. Rents in every part of the city are constantly increasing and many landlords would ask you a higher amount a few months before your contract expires. Not to mention those who won’t even offer tenants Ejari registration– they can increase the rent whenever they want to and as much as they want to. However, families should know that for every kind of property in the city, there is an allowed maximum rent hike, so before paying for something you’ve already paid, seek a legal advice.
The rent is indeed a massive bill to pay, but tuition fees at Dubai private schools (and if you are an expat, private schools are the only alternative) are also tough to tackle. Although there are many schools in the city, the newly arriving families keep the demand high, or this is at least what schools claim, because it is convenient to have an excuses to increase fees. Meanwhile, they still seem to be unable to provide the high-quality education they promise, according to reports by international examiners.
The booming economy and rapid development of Dubai also attract a large number of various international businesses. New 4- and 5-star hotels, luxury boutiques and shopping malls are opening; there are lots of cafes and night clubs, plenty of entertainment for the children. But all this comes at a price – the myriad of temptations here often will leave you in debt as not everyone can afford a luxury lifestyle. Shopping malls aren’t just for shopping – they are the most popular place for entertainment in Dubai, offering all kinds of treats for adults and kids. Conveniently packed with movie theatres, restaurants, amusement parks, beauty salons, banks, offices, and coffee shops, malls will make you spend your entire day and most of your money there.
- Read more: Young people are easy victims of consumerism
So, can you really afford Dubai’s cost of living? In fact, there are always cheaper alternatives; all you have to do is search for them. Visit your local café over pricy restaurants and less fabulous flea markets over malls. Certainly, there is the option to look for a cheaper school or a new home in a more affordable part of the city. These two changes, however, take longer to plan and research, so you if are really struggling with the rising cost of living, now is the time to make your move. Summer is the perfect time for moving kids from one school to another and rents aren’t likely to increase much in the coming couple of months.
Living in Dubai is getting more expensive, but that doesn’t mean it is impossible to copy with. There are always ways to cut the expenses and still make the most of your life in Dubai.
