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Can you afford it?
by This email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 8 July 2007
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Results 1 to 8 of 8
Posted on Saturday, 12 July 2008
You are better in Geneva
Posted by dfasdf at 02:27 UAE time
The quality of the services, the public health, the salaries (even after tax) can't compare with Dubai. The only disadvantage is the climate, much colder in Geneva.
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Posted on Saturday, 28 June 2008
COST OF LIVING
Posted by GIRISH N PANDE at 16:29 UAE time
I am doubtful whether AED 8500/- per month is enough for maintaining the same lifestyle as in India.
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Posted on Thursday, 1 May 2008
Is 8500 AED / month enough to live in Dunai
Posted by Ashish at 19:08 UAE time
Is 8500 AED / month enough to live in Dubai?
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Posted on Tuesday, 27 November 2007
REVISION OF SALARIES BY UAE GOVERNMENT
Posted by RAJENDRA ANEJA at 13:00 UAE time
The revision in the salaries of Government officers was more than overdue considering the inflationary trends in the Gulf, the escalating prices of property, the devaluation of the US dollar and rising costs of services like education, banking etc. Foot items, most of which are imported into the Gulf, are becoming very expensive due to the devaluation of the US dollar. Prices of flour have doubled at the retail level.
However, instead of giving a flat 70% hike in salaries, the Government could have passed the increments in the form of benefits, which would improve living standards, but yet prevent inflation. For instance, the Government could have given free housing to the employees, or free maintained cars, leave travel tickets, free medical treatment, subsidized education, and items of daily consumption like milk, flour, rice, etc. These perquisites, ensure benefits to the employees, without generating an inflationary spiral.
There is need to evolve a "Cost of Living Index", which can be used annually to measure the standard of living of citizens. Cost escalations and salary hikes can thus be calculated more scientifically and logically. Such an index is available in most countries. The Economist magazine, has such an index for most developed/developing countries.
It is vital to have such an index. As a result of the 70% hike in Government salaries, there is a lot of angst or heart-burning amongst the employees, in the private sector! Expectations, for cost adjustments have risen amongst private sector employees; however as in the past, these may not be fulfilled. Nevertheless, a cost of living economic index, gives all employers a basis of intelligent comparison.
A simpler index is the "Big Mac Index", used by the Economist magazine, to ensure purchasing-power parity, so that a dollar should buy the same amount of goods or services in all countries. Using, the "Big Mac Index", would mean hamburgers cost the same in USA or in any other country.
It appears that Dubai is no longer a place where you can come and make a fortune. Dubai is becoming a place, where you make your fortune elsewhere and then come and spend it by investing it in a villa in the World Island, buying a jet or Mercedes, dining in 7 star hotels!! The middle class, will be increasingly marginalized!!
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Posted on Friday, 9 November 2007
Re: Can you afford it?
Posted by Afroze Mushtaree at 23:00 UAE time
I feel that it is not accurate to compare Dubai with Geneva only in terms of rents. The standard of living in the two places is different. Other factors such as the average pay per person, demand and supply of houses and other factors should also be considered to make a fair comparison.
It is also beyond my grasp why, even with the increasing demand for houses, certain buildings which were previously available for rent are now being vacated and converted to hotel apartments. This is not only the case in Dubai but also in the other emirates.
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Posted on Friday, 2 November 2007
On Dubai rents
Posted by Amal Bou Saleh at 15:00 UAE time
i think the author of this article compared dubai rent and buying prices to Geneva ignoring other important factors such as the income earned by most of the people who works in Dubai.If it is a real inflation then everything should accompany this uncontrollable rise in rents and real estate properties prices. The fact is that salaries remain little and the increment given to employees or workers is nothing compared to such increase in the rate of inflation which is reaching 10%. I do not agree with Ajit since not all expatriates can afford to live in Dubai, not all businesses provide allowances to their employees, they are forced to live In sharjah or outside Dubai since rents there are less expensive. keeping in mind that it is true that demand and supply of apartments in Dubai leads to such increase in prices, yet it is really not clear who will be able to afford paying such rents.
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Posted on Tuesday, 17 July 2007
Misleading article
Posted by Bill McGuirk at 14:00 UAE time
What Ajit Karnik fails to point out is that Dubai is primarily a low-waged economy. By the Dubai government's own figures, just 4.6% of the population earns more than 20,000 dhs per month, with the overwhelming majority earning 3000 dhs per month or less. Yes, there are tens of thousands of new expats arriving each year, but the majority of them will never be able to afford to rent or buy in Dubai; they will live in cheaper emirates and commute into Dubai to work.
It's also worth bearing in mind that the number of expats who receive a realistic housing allowance is dropping all the time. The idea that all the higher-paid Western expats can easily afford their rent is farcical; the massively increased cost of living is forcing many long-term expat families to leave Dubai.
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Posted on Sunday, 8 July 2007
Can you afford it? by Diana Milne on Sunday, 08 July 2007
Posted by vB at 15:00 UAE time
It may be more expensive to buy a property in Geneva but then you have "real ownership" guaranteed by LAW. Dubai doesnt have a property law in the real sense of the word!
You get to own the piece of land on which the property is built in Geneva not some undefined, vague right to live.
And the return on property investment
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