How much does real estate cost in Dubai?
According to the DLD data as of June 2022, the average real estate purchase transaction in Dubai amounted to USD 345,000, and for apartments - USD 327,000. In the first quarter of 2022, the average cost per square meter of apartments in the budget sector within popular areas of the emirate ranged from USD 1,788 to USD 4,166, and for premium-class residences - from USD 4,112 to USD 6,426. In October 2022, ready-to-move-in one-bedroom apartments were offered within the Dubai market at a price starting from USD 80,000.
For comparison, in Moscow during the first half of 2022, the cost per square meter of housing in the mass market segment was USD 4,800. In new buildings in the so-called "old" areas it was USD 6,700, and in luxury-class new buildings - USD 8,000. The cost of purchasing a budget segment apartment in Moscow averaged at USD 221,000 during the same period. In 2022, the average price per square meter in the budget sector within the secondary market in St. Petersburg was USD 3,400, and in new buildings - USD 3,600.
A lease agreement in Dubai is most often signed for a year, and the annual rental price is divided into four cheques. In 2022, renting small apartments in the emirate cost an average of USD 14,000-19,000 per year. Thus, the tenant pays USD 1,170-1,580 per month. In Moscow, the monthly rent for a one-room apartment in September 2022 was USD 680, and in St. Petersburg was USD 510.