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Thursday, December 28, 2006
Every dream comes to an end.
The recruiting website Gulf Talent specialized in the Gulf Area hast just released the results of its latest study over "Pay, Inflation & Mobility in the Gulf".
And what a result indeed! I knew that price increases picked up steam over the last two years, but not up to that this level: "Average accomodation retanls increased by (...) 60% in Dubai"
Although Dubaï remains a tax free area (no income tax either), it is now obviously less interesting as savings shrink in relation to the cost o f living.
Youssef, what's going on there?

 
posted by Amine at 11:52 PM |


1 Comments:


At 1/12/2007 04:27:00 PM, Blogger Youssef Chraibi

Yes indeed, the rental prices have been going crazy the past couple of years and the overall inflation in Dubai has discouraged some people to move in. We can really feel that.
Lucky me, i've staying in the same apartment the past 3 years and my landlord has been lets say a "nice" guy :)
Let me point out though that things should get better in the Emirate as HH Sheikh Mohammed, Ruler of Dubai, has just issued last week a decree capping the annual rent increase at a max of 7%
Cheers

 


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