Apartment Prices and Rent Comparison Dubai vs Singapore
While comparing apartment prices and rents in Dubai and Singapore some similarities and differences can be identified which could be useful for prospective buyers/renters and overseas investors.
Rent Prices: A Comparative Analysis
Dubai:
- City Centre: According to the survey, hiring a one-bathroom apartment in the city center of Dubai costs about AED 7,927. 30, two bedroom apartment can be purchased at approximately AED 14,937 for a three bedroom one. 02
- Outside City Centre: The prices are much lower for the areas outside the city center and the one-bedroom apartments price is about AED 4,858. Of them, almost 44 units built in Du or 3 clusters of 2, 3 bedrooms and 1 studio each for about AED 10,375. 00
Singapore:
- City Centre: In Singapore, a one-bedroom apartment in the city center is much pricier, at about SGD 3,557.62 (AED 9,717.51). For a three-bedroom apartment, the rent soars to SGD 7,055.26 (AED 19,271.20)
- Outside City Centre: The trend is similar outside the city center, with one-bedroom apartments costing SGD 2,666.58 (AED 7,283.67) and three-bedroom units at SGD 5,015.55 (AED 13,699.78)
Property Purchase Prices
Dubai:
- City Centre: Buying an apartment in the city center of Dubai costs approximately AED 1,659.17 per square foot
- Outside City Centre: The price is significantly lower outside the city center, at around AED 985.93 per square foot
Singapore:
- City Centre: In contrast, purchasing an apartment in Singapore’s city center is much more expensive, at around SGD 2,560.70 (AED 6,994.45) per square foot
- Outside City Centre: Outside the city center, prices still remain high at SGD 1,688.32 (AED 4,611.59) per square foot
Factors Influencing Costs
Economic Stability and Growth:
- Dubai’s real estate market is buoyed by its strategic location, tax-free income, and a strong rental yield of around 8.4% to 10.48% in the city center
- Singapore, on the other hand, has high property prices driven by limited land availability and robust economic growth, but offers lower rental yields of around 2.63% to 3.27%
Quality of Life and Infrastructure:
- Some of the qualities include social amenities such as shopping and good health facilities, importance place and quality facilities companies in the shopping complex. Currently there are a lot of development was under process in Dubai public transport especially the Dubai metro its continuously improving itself to match up the international level.
- Singapore has among the best public transport system meaning that car ownership is not as crucial as one may think. It also has one of the most efficient healthcare systems in the world but this would attract higher charges than what the locals would pay.
Cost of Living:
- Singapore’s prices of living compounds are comparatively higher compared to Dubai. This means that the basic expenses which are the immediate out-of-pocket expenses such as food, meals and transportation are included. For example, Singapore price of groceries is approximately 62 percent higher than the world average. , it is for 2% more expensive than in Dubai.
Each city has its pros and cons: one is better when it comes to infrastructure and the other should be considered in case if investors are searching for rental yields. While Dubai offers relatively cheaper lifestyle and investment options with attractive rental return on investment and much lower property prices compared to Singapore which comes with comparatively higher costs but stability and good infrastructure. For the investors, it will be a choice between getting higher revenues from the property or development of urban environment.