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FINANCIAL NEWS
Dubai ranks among top 10 in most costly cities for housing
22 Sep 2015
(MENAFN) Dubai, The top UAE’S city, has the highest housing prices in the world, as opposed to other global top cities, with average rents in Dubai coming out as the 16th most costly internationally.
In more detail, the cost of renting a three-room flat in Dubai arose as the fourth highest, at USD3,240 per month, more than double the cost in famous tourist destinations like Vienna, Austria which is at USD1,120.
However, things are not all gloomy, as when the average rent is considered, Dubai’s rent prices are cheaper than major cities like Hong Kong, London, New York, Chicago or even neighboring Doha.
Overall, rents in New York City are the most expensive, averaging at USD3,890 per month, followed by Hong Kong’s USD2,590, London’s USD2,360, Chicago’s USD2,210 and Luxembourg’s USD2,130.
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