Expats have options to own freehold real estate or rent out flats for their stay; which is better?
Irrespective of where you stay or the kind of accommodation you have, we can all agree that rent is the single biggest expense each month for any expat resident in the UAE. For Dubai, experts say that at least 40 per cent of a resident’s income goes into paying rent.
A one-bedroom apartment could cost anywhere from Dh50,000 to Dh90,000 per year as rent depending on where you stay. While rents have reportedly been falling across the country, these ranges still apply in most areas.
Is buying worth it? Yes, if you’re planning to be in Dubai for a really long time. Most people in the UAE end up staying longer than they originally thought. So, unless you’re only planning to stay less than 10 years, buying might be a great option for you.
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