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People Are Calling Out A Bloomberg Article That Says Expats Are Priced Out Of Dubai

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People Are Calling Out A Bloomberg Article That Says Expats Are Priced Out Of Dubai

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‘Soaring rents and school fees, costly groceries, and Uber fares comparable to New York make Dubai less appealing for some expats’ – Bloomberg Economics

A recent article by Bloomberg Economics that says Dubai expats are being priced out of living in Dubai has been shot down by Twitterati. The article says the influx of wealthy Russians and crypto millionaires has driven up the price of living and driven expats out. And while yes, the property market has risen significantly in recent years, the news that expats can no longer afford to live in Dubai is simply untrue.

The post was met with ‘fake news criticism’ and while people agree that Dubai is busier, and prices have risen, the overall summary is not accurate

‘Welcome to (fakenews.com)’

The article looks, in particular, at rents shooting up, private school fees rising, and the fact that the prices of cabs are now comparable to New York City. It compares the prices of a grocery shop in the UK to Dubai and says the average prices of villas in Dubai have shot up.

People acknowledge prices are rising, in line with inflation, but that the UAE is a trailblazer

A local citizen hits back stating Dubai is busy as a bee…

Yes, the number of people living in the city has risen, driving prices up, but this doesn’t accurately sum up the feeling on the ground. Dubai continues to be a land of opportunity, where people can earn a good living, and affordable living is still a possibility.

The government is transparent about its plans for the coming years and residents back those plans. Expats are proud to call this city home and many are finding opportunities to ensure they can stay here long-term and as rental prices have risen and more and more expats are purchasing their homes here in Dubai, according to a Property Finder 2022 report.

Golden visas for homeowners make purchasing a home a highly attractive option, guaranteeing owners long-term stay visas. And the city’s lifestyle and safety aspects mean Dubai continues to rank on ‘top cities for expats’ lists year after year.

Not only are people not leaving, but plans are also in motion to welcome new expats as part of Dubai’s 2040 plan: The population will increase by the year 2040 (from 3.3 million now to 7.8 million)

Reality on ground? Good schools – on waiting list… Careem /UBER unavailable in peak times due to high demand… Malls are packed to capacity …Restaurants/ Cafes have >1 hour of wait time… Roads with unprecedented traffic at all times !! Dubai is BUSY as a bee but Bloomberg enjoys putting fake News…

“Prices are high when compared to India but no one expects it to be cheap!”

While others note the rise in rent is the city’s recovery to pre-pandemic levels

While rental prices in Dubai have increased significantly in exclusive locations like Dubai’s Palm Jumeirah, up-and-coming neighborhoods like Dubai Hills 2, Town Square, and Al Furjan offer affordable villa accommodation for expat families.

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