Nubricks, the ‘online launch pad for international property developments and overseas property news alerts, has posted an article on the effect of the unacceptably high rent in Dubai.
Here is the punch line:
“In addition to the drastic measures of upping sticks lock, stock and barrel, many expatriate residents are considering a longer commute relocating to the neighbouring emirates of Ras Al Khaimah, Sharjah, Ajman, Fujairah, Umm al-Quwain and even capital Abu Dhabi , where the cost of living is notably lower.”
Cheaper rents in these far-flung areas, at least for the moment. This ripple effect is gradually raising the rent but not to the Dubai levels. It would be interesting to compare the other major costs of living between Dubai and the cities at the extremities of the Emirates.
Driving from Fujairah earlier this week to attend a breakfast meeting at the Dubai airport made me realize how many people make this 90+ minute commute from Fujairah to Dubai-Sharjah and back every day.
One attractive prospect is that the new highway (ready in 2009?) promises to cut the time spent in the car considerably (to 45 minutes) but with the Emirati love affair with the car, this tripping in and out is a breeze.
Check out the full article at: Mark Benson, ‘Soaring Dubai Rents Good for RAK…”, Nubricks, 7 May 2008.
Dr. Geoff Pound
Image: Dubai renters heading out east.