Whether you are come to Dubai to establish a business or are searching for a good job prospect, this is helpful to have an appropriate idea of what is the cost of living in Dubai for expats in 2024 prior to visiting Dubai. But if you do not have any kind of knowledge regarding the living cost and want to know then the best way to deal with this is to consult with the best business setup consultants at Start Any Business who will provide you proper guidance and also assist you throughout your setup procedure.
A new life in Dubai can be the most exciting experience you have ever had. Although, like any new nation living in Dubai can be difficult particularly if you do not have practical knowledge of how situations are complete locally. Dubai is a fascinating emirate to live in in several methods. There is a comprehensive range of business possibilities and vacancies, a dynamic real estate market that generates attractive providers for commercial and residential buildings. Here we going to mention a little guide on the cost of living in Dubai and how you can manage it.
Average Cost of Living in Dubai for Expats in 2024
Living expenses are those expenses that are necessary for the essential existence. This will include food, housing, clothing, transportation, and healthcare, to name a few. Any entertainment charges will not be attributed to the reduced living expenses.
When determining living expenses, housing makes up a substantial portion of the budget. An average of around 30% of the cost of living would be spent on housing, complied with the transportation and food, which will be 15% each. The monthly expenses vary greatly along with the size of the family. Here is a little overview for a fast reference of the total costs based on the family size.
Dubai is set to become more affordable in 2024 because of a steady drop in rents, prices of property, education expenses, eating out, and transportation. Number data showed that the average cost of living for an individual decreased by 89.2% in 2024 than 2020.
Housing Rental and Utilities Cost of Living in Dubai for Expats in 2024
1. Housing
Dubai can provide expatriates a comprehensive range of residential properties at different prices. If you want to save your valuable money, then this is worth renting or purchasing a single-room apartment close to the Dubai outskirts. The cost of purchasing or renting a house in Dubai is based on several aspects: its size, the year the building was constructed, the place where the property is situated, and more.
Here to rent a small single room apartment for one year, you need almost 50 thousand dirhams, a villa for 4-5 rooms around 250 thousand dirhams. Overseas in these elite locations have the right no just to rent, but to purchase a home. If you decide to become the real estate owner situated in Dubai Marina prepare around one million dirhams.
2. Transport
The major benefit of Dubai is that it has sound public transport. If you don’t wish to adapt to the basic driving style of the locals, you can utilize public transport services. You can visit every corner of the UAE by utilizing buses, metro, and taxis. The public transport services cost in Dubai is very reasonable. A bus ride in the city would cost you from dirhams 2-5, based on the route.
If you continuously travel by bus in the city, then it means you need to buy a monthly pass, that expense around 200 dirhams. Metro services are also not very costly. The cost of one ride is based on the timing: the minimum amount is dirhams 1.8, the maximum is dirhams 5.8. A taxi ride would cost you more: as per the common rate, you would have to pay a little over dirhams 30.
3. Utility
Additionally, the cost of housing, whether you purchase or rent it, you have to pay utility bills. A public utility in Dubai is very expensive. For instance, if you live in an apartment with an overall area of 75-80 square meters, you need to pay around dirhams 600 in a month. These charges typically comprise lighting, use of electric stove or gas, heating running water, and garbage disposal. Those living in private homes would require to take care of lawn maintenance, cleaning of the pool, and more.
4. Household Arrangement
If you have purchased an apartment or house in Dubai, then you would potentially like to furnish it as per your choice. There are several shopping centers and salons in the city where you can purchase curtains, furniture, chandeliers, bed linen, floor lamps, and different kind of accessories to decorate your house. This is tough to say the actual cost of such products because more based on which kind of brand you buy. The difference in the prices of goods in Dubai can also be judged from the furniture.
Also read, Cost of Accounting Services in the UAE
