Yeah I would say that "go big or go home" is correct haha. Especially so for your locals and westerners. There are very diverse groups that live here. I am dating a Filipina girl for example, and her friends/community are paid well, executives and proffesionals, but they live in different areas and prefer to make use of "bed space". They just rent a bunk and you can fit like 6 - 12 people in a room (depending on the size of the room). Its all very clean and dosnt feel cramped for some reason, they are just more used to living in a community based environment. Then you get the labour camps where, for example, the laborer's from India and Pakistan go, and those conditions are not so great. I think what you don't hear about here often is the "middle class". The really poor or the wealthy attract attention, but there is a large proportion of people here who live normally, eat at normal restaurants that don't require gold shavings in their cappuccinos, which allows you to save nicely and spend more on fish (cause no income taxes are lovely) but these people I guess wouldn't make very interesting news coverage, so you don't hear about them often. Most of my friends live in normal one or two bedroom apts. Nice areas, close to the city, easy accessibility. Public transport here is really good too. Lots people of don't really need cars.
Property prices are like the fish shops prices haha. All over the place. They have dropped a lot over the last two years, but seem to have stabilized a little now.
A nice apartment on the Palm (one of the man made palm islands) is about 4.3 Million USD now.
Apartments in and around the Marina around 2 Million USD. (some people live on yachts there too)
Your normal 3 bedroom villas in suburbia are about 1 million USD.
I have a studio apt (about 600 sq ft including balcony) close to the city, nice area, a little more inland, but still with a view of the Marina buildings - Just under 100 000 USD. There is a place called Emirates Hills across the main road from my place, maybe 1km from me, I have just checked online and those houses are really nice, they go for 15 - 26 Million USD. There a few places like that around.
There slighty smaller apartements (450sq ft) a bit further out near the dragon mart area at 65 000 USD - I rent out a place their to a lovely Indian family.
Satwa area I have talked about, you can rent a little studio apartement there for 1000 USD per month.
Bed space (depending on the area) is generally about 250 USD per month. top bunks are slightly cheaper.
My uncle just rented a really nice one bedroom apt one block from me at 1700 USD per month.
I hope this helps answer some of your questions
- There are some major "Palaces" around here owned by locals. I am mean locals who I occasionally see helicopters flying in and out of their properties, taking them to their Friday night party, and when it comes to locals, it is as you said, live large or go home haha.