Dubai: Leading affordable city for expat housing

In a significant achievement, Dubai has claimed a place among the top five most cost-effective cities worldwide for expatriate housing, according to the latest rankings by Colife, a renowned global rental service. Oslo, Berlin, and Barcelona join the list, with the Portuguese capital, Lisbon, leading the pack.

Colife’s assessment considered various factors, including shifts in real estate markets and the attractiveness of cities as business hubs for expatriates. The rankings also accounted for global studies such as the World Bank’s Ease of Doing Business Index, StartupBlink’s Global Startup Ecosystem Index Report, and Forbes Advisor’s Worldwide Work-Life Balance Index.

The importance of this ranking is further emphasised by the increasing trend of digital nomadism, where remote workers travel and work simultaneously. Recent estimates suggest that over 35 million people worldwide have embraced this lifestyle, prompting countries like the UAE to adapt by offering special long-term residency visa programs.

Ilnara Muzafiarova, CEO of Colife, stated that the analysis targeted individuals with above-average incomes valuing their time and quality of life. The study encompassed those who prefer to delegate household tasks and avoid lengthy commutes.

Dubai’s appeal to expatriates extends beyond affordability, with the city scoring high on various fronts. Colife highlighted advantages such as a cosmopolitan environment, a developed economy, and the presence of major international companies like Microsoft, Google, Amazon and other big global companies. With over 80% of the population being expatriates, English is widely spoken, making Dubai comfortable for language adaptation.

The rankings showed that Dubai offers numerous advantages to expats, making it more affordable than major cities like London and New York. Stylish apartments in popular areas like Dubai Marina, Business Bay, Al Furjan, and JLT are available from $1,800 per month, inclusive of services such as 24/7 support, high-speed Wi-Fi, bill payments, and cleaning.

The rankings also shed light on other cities, with Lisbon topping the list for digital nomads due to its low cost of living, good climate, and friendly locals. Barcelona has gained appeal for remote workers with its new digital nomad visa, while Berlin’s creative environment attracts talent in technical innovations and creative industries. Oslo, on the other hand, stands out for high social security, access to world-class education, and a healthy work-life balance.

Original article reference: Arabian Business.

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