Living in Dubai is much more affordable than it was before the 2008 crisis.
However, this year seems to be a bit different from the past couple of years as
rents are going up in good localities in the city and the cost of education is
ever-increasing, irrespective of the school.
But this increase in
expenses has not translated into bigger salaries for most people working in the
city.
According to Cliff Single, Commercial Manager at BAC Middle East,
there is no pressure on employers to give extra financial incentives to their
staff.
“Currently, we do not see any strong upward pressure on salaries given the
overall market sentiment. In a recent client survey, only 5 per cent of
respondents expected salary increases above the rate of inflation in the near
term,” he told Emirates 24|7.
Experts believe that
rents may be going up in good communities but the overall situation is much
better than the boom years when house rents were eating up a big chunk of a
person’s income.
“[If we] take standard of living and infrastructure
quality into account, rents in Dubai are still exceptionally low compared to
2008, [thus] disposable incomes are still competitive compared to other Gulf
states. However, rents in certain popular areas are now beginning to rise,
albeit slowly, and the rising cost of education remains a major issue for
families. The trend is likely to continue,” said Hasnain Qazi, Middle East
Business Manager at Huxley Associates.
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