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Dubai, one of the most opulent cities in the Middle East, is also the most populated city in the United Arab Emirates as a result of the enormous number of foreigners who have settled there. Dubai is popular because of its luxurious lifestyle, fantastic shopping, and cutting-edge architecture.
On the other hand, Singapore is mainly a central hub for international commerce and is regarded as one of the most alluring locations in the world for expats. Foreign talent is prominent in the city, particularly in the industries of marketing, banking, information technology, shipping, engineering, and advertising.
In this article, we will be comparing the difference between living in the both well loved cities.
Cost of Living
The cost of living in Dubai is 22% less expensive than in Singapore. According to livingcost.org ,the monthly average expenditure is $1899 – Dubai vs $2433 – Singapore. With such, if one rents a place to live in Singapore, he will need about $8,073. Whereas he will only need to spend about 6,799 S$ in Dubai to maintain the same level of living.
Dining
Restaurant Prices in Dubai are 21.8% higher than in Singapore. In context, the average three course meal for 2 People in a Mid-range Restaurant would cost you approximately $87.50 however, in Dubai itself, it would cost you $110.
Taxes
Singapore has a 17% corporation tax rate, whereas Dubai has no business income taxes. Dubai appears to be the clear winner in this situation, no doubt. However, toll roads, airport taxes, hotel taxes, property rent taxes, visa fees, and other license fees are only a few of the numerous payments the government of Dubai imposes. Therefore, the whole cost of this must be considered. In reality, professional economists advise Dubai to transition to a contemporary, transparent tax system.
Properties
Comparing the pricing of real estate in Dubai and Singapore reveals that Singapore is far higher than Dubai. Mortgages as a proportion of income are 43.14% in Dubai and 136.90% in Singapore. Although Dubai properties doesn’t come cheap, Singapore’s housing is far more exorbitant.
In comparison to Singapore, Dubai has substantially greater gross rental returns. Singapore only gives a yield of 2.63% in compared to Dubai’s 10.48%. Dubai provides a yield of 11.45% for properties outside the city center, compared to Singapore’s 3.14%. This way, property investors in Dubai should expect to experience substantially higher capital gains than those in Singapore.
Transportation
In order to lead a fulfilling life, one needs an efficient public transportation system. Additionally, it reduces the amount of time everyday commuters spend traveling to and from work or school. Dubai has a well-developed public transportation system that is both contemporary and convenient for moving about the city. You can select from a variety of means of transportation based on your preferences and financial situation. The bus, tram, subway, monorail, taxi, water taxi, and ferry are some of the most well-known types. You can reach every nook and cranny of Dubai without spending a lot of money or time, thanks to the well-maintained roadways that connect every area of the city.
In comparison, the second-best public transportation system in the world is found in Singapore. With only Hong Kong that outperforms Singapore in this category.The MRT (Mass Transit Railway), the backbone of Singapore’s railway system, offers unrivalled affordability, superb efficiency, incredible comfort, and great infrastructure. In addition, the city has extensive, reasonably priced bus service.
Conclusion
We concluded from our comparison that Singapore has superior public transportation, a more tolerable climate, and a more cosmopolitan and laid-back atmosphere. Whereas Dubai provides better wages, a reduced crime rate, and lower living expenses. Ultimately, each countries has it’s pros and cons, such jurisdictions lies within one’s individual preferences.
Now, share with us which country would you prefer to live in: Singapore or Dubai?
