The News
Dubai’s once-idyllic expat lifestyle has become unattainable for many as costs rise and salaries stagnate.
An influx of more than 400,000 expats since the pandemic has made the labor market more competitive, dragging down salaries and benefits even for top jobs, according to Bloomberg. Employers don’t expect to offer UAE workers a pay bump this year.
Rents for villas have nearly doubled, while apartment prices have risen 66%, according to real estate consultancy JLL, forcing many to consider commuting from neighboring Sharjah or even Ras Al Khaimah, 120 kilometers away. Dubai is now the Middle East’s most expensive city for international employees, ranking 15th globally, according to consultancy Mercer.
The dream, however, is still alive for the rich. Around 800 millionaires left Britain for the UAE last year, drawn by low taxes and luxury lifestyles, while significant numbers of wealthy Germans are also considering the move. Real estate developers are struggling to meet demand for high-end homes, with $100 million listings on the rise.
