Dubai is among the World’s Most Expensive Cites

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Dubai is one of the most expensive cities in the world. That concluded a study conducted just recently by the Swiss bank UBS. Dubai was also declared “the most expensive city in the Middle East”. That is amazing given that housing prices in 2012 are lower than what they were four years ago.

Read further: World’s Most Expensive Cities in 2012

The research compared the costs of different items and services, like food products, transport and household devices. UBS found out that Dubai is now the 22nd most expensive city in the world – five places higher on the bank’s rankings than it was last year.

Cost of Living in Dubai

The research found that prices in Dubai are higher than those in other large cities like Amsterdam, Miami and Doha. Moreover, they are even higher than the prices in cities which were initially announced as more expensive than Dubai. Many products and services here are costlier than the ones in Moscow and Hong Kong.

People in Dubai spend about $484 (Dh1,781) every month… only for food. Furthermore, it was estimated that this is over 12% less than the food expenses in New York. Other big cities, like London and Delhi, are nowhere near these rates. As a matter of fact, only the inhabitants of Zurich spend more for food (Dh2,586).

Cost of Renting

If you want to rent an apartment in Dubai you need to be prepared to pay nearly Dh9,000 every month. That is more than the renting prices in cities like Rome and Chicago. Moreover, in terms of cost of renting, Dubai ranks alongside Frankfurt, which is one of the most expensive cities in Europe. And if you want to rent a house, you will need to dig even deeper.

Purchasing Power

The hourly wage in Dubai is also among the highest in the world (Dh59.50). Researchers who worked on the study looked at the prices-wages ratio and concluded that Dubai is among the cities which have the highest purchasing power. They also found that in this category the City of Gold overtakes big European cities like Brussels and Barcelona.

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