Living on the Palm Dubai is a dream for many. This iconic man-made island offers luxury living, stunning views, and a host of amenities.
However, before making the move, it’s important to consider the cost of living on this exclusive island. From accommodation to daily expenses, let’s explore how much it really costs to live on the Palm Dubai.
Accommodation Costs
The Palm Dubai is known for its extravagant residential properties. Whether you choose to rent or buy, be prepared for high prices. The cost of accommodation varies depending on factors such as size, location, and amenities.
Villas:
- Signature Villas: These luxurious waterfront villas can cost anywhere between AED 10 million to AED 100 million or more.
- Garden Homes: These spacious villas range from AED 5 million to AED 20 million depending on their location and size.
Apartments:
- Shoreline Apartments: These beachfront apartments can be rented for around AED 80,000 to AED 300,000 per year.
- Tiara Residences: Offering stunning views of the Arabian Gulf, rents here start from AED 120,000 per year.
Daily Expenses
In addition to accommodation costs, daily expenses play a significant role in your overall budget when living on the Palm Dubai.
Groceries:
The cost of groceries in Dubai is generally higher than in many other cities. However, with several Supermarkets and hypermarkets available on the Palm Dubai, you have a range of options to choose from. On average, a monthly grocery bill for a family of four can range from AED 2,000 to AED 4,000.
Dining Out:
From casual eateries to fine dining restaurants, the Palm Dubai offers a diverse culinary scene. While prices can vary significantly depending on the restaurant and cuisine, expect to pay around AED 100 to AED 500 per person for a meal at a mid-range restaurant.
Utilities:
Utilities such as electricity, water, and internet are additional expenses you need to consider. On average, expect to pay around AED 800 to AED 1,200 per month for these services.
Recreational Activities
Living on the Palm Dubai offers access to a range of recreational activities that come with their own costs.
Beach Clubs:
The Palm Dubai is home to some of the most exclusive beach clubs in the city. Membership fees can vary but expect to pay anywhere between AED 10,000 and AED 50,000 annually.
Golfing:
If you’re an avid golfer, you’ll be pleased to know that there are world-class golf courses nearby. Golf club membership fees typically range from AED 20,000 to AED 100,000 per year.
Conclusion
Living on the Palm Dubai comes at a premium price. From extravagant villas and apartments to high daily expenses and recreational activities, it’s important to be prepared for the cost of living here. However, if you have the means and desire for luxurious living in one of the world’s most iconic locations, the Palm Dubai can be an incredible place to call home.