Housing costs in Dubai are among the four most expensive in the world, according to the latest UBS Prices and Earnings study, which examines prices, wages and earners’ purchasing power in 71 cities globally. Zurich, Geneva and New York City are the most expensive cities in the world, according to the prices for a standardised basket of 122 goods and services.
Dubai is the most expensive city in the Middle least, when rents are included, the report showed.
It added that Dubai is one of only four cities in the study where an average unfurnished three-room apartment rents for more than $3,000 a month, namely $3,240. The others are London ($3,350), Hong Kong ($4,220), and New York ($4,320).