In 2021, the Emirate ranks #42 in Mercer’s Cost of Living Survey, so the city is more affordable than San Francisco, London and Paris. The area where you choose to reside is one of the major aspects determining how expensive the cost of living in Dubai will be for you.

For instance, a 1-bedroom apartment in the center of Dubai can be rented for AED 5.5K (USD 1.5M) per month, while a property set a bit further away will cost you about AED 3.6K (USD 1K). Additionally, monthly living expenses, which include utilities, travel and transportation, groceries and leisure/hobbies, amount to approximately AED 3.2K (USD 870K) for 1 person, and about AED 11.8K (USD 3.2K) for a family of 4.

As a rule, health insurance in Dubai is provided by a sponsor/employer, so you do not have to worry about any additional medical expenses.

To begin with, the investment property market in Dubai offers higher rental yields than many other mature real estate markets. In fact, the average ROI here ranges between 5% and 9% as property prices per square foot are significantly lower than in other cities across the globe, such as London, Hong Kong and Paris. Thus, it is an affordable location to own luxury real estate, besides, there is also no stamp duty and property taxes as well.

In order to attract more investors, in September 2021, the DLD had reduced the minimum required amount, which allows purchasers to apply for a 3-year residence visa through investment, from AED 1M (USD 272K) to AED 750K (USD 205K). Visa holders can avail family sponsorship, which enables bringing a spouse and children to the country as well.

Off-plan property in Dubai is property under construction, and is a popular option with end users and investors. Mostly, this is due to the fact that it has a lower purchase price than ready to move in units and there is a possibility to resell off-plan property before its completion, thus, gaining higher capital appreciation.

Moreover, the majority of developers in Dubai require only a 5-10% down payment and you automatically become a full-fledged owner. The remaining amount can be paid during construction and upon/after handover, depending on the payment plan. Another perk of purchasing off-plan property is that it comes brand new with the latest technology, design and lifestyle features and on-site facilities.