Tuesday, June 27, 2006

Not so cheap

The list of the world's most expensive cities has been released and Dubai is officially the most expensive city to live in the Middle East, followed closely by its neighboring Emirate Abu Dhabi.

This announcement is not likely to surprise the residents of this congested town as they've been hit by wave after wave of increases, most notably in rents and petrol, with the latter expected to increase yet again soon. Could these increases be another form of implementing taxes rather than just normal increases? Might be, but some might argue that it is more related to supply and demand as far as rents are concerned and that it is a bubble that will burst sooner rather than later.

Another interesting list which Dubai did NOT make its way to was the top 50 in the quality of living.

"Dubai, however, did not make the top-50 in the Mercer survey on quality of living, which named Switzerland as the best place to live. Zurich and Geneva ranked as the top two cities."