We’re pretty short of good news in 2020, but one silver lining is that UAE residents are expecting to pay less rent as the world moves through the Coronavirus pandemic.
A recent survey by Time Out Dubai of more than 1,000 people found that 54% of UAE residents were expecting to pay less rent the next time their rental agreement is due for negotiation. And just 3% of respondents said they expect to pay more.
And let’s be honest. With the economy on a virtual shut-down, landlords simply have to reduce their prices.
UAE now cheaper to live in
That good news is followed by Dubai and Abu Dhabi becoming cheaper to live in. Both Dubai and Abu Dhabi have become cheaper to live in during 2020, with both cities sliding down the most expensive places to live rankings.
Dubai is 23rd in the rankings after being 21 last year, and Abu Dhabi has slid from 39th this year after being 33rd in 2019.
And the cost of living is the cheapest in Dubai since 2015 and 2014 in Abu Dhabi.
Hong Kong remains the most expensive city to live in.
But wherever you live, there’s no escaping one fact. It’s summer and the heat and humidity are hitting us hard this week!