Monday, August 26, 2024 The short-term rental market in Dubai is experiencing a surge, with demand increasing by a substantial 30% compared to the previous year. This trend is reshaping the real estate landscape of the region, offering lucrative opportunities for property owners and attractive accommodation options for visitors. According to Myles Rothwell, Managing Director at Edwards and Towers, a leading real estate brokerage in Dubai, “The rising tourism and demand for flexible living options have fueled the growth of short-term rentals.
This has resulted in investor returns up to 20% higher than traditional leases.” Cherif Sleiman, Chief Revenue Officer at Property Finder, emphasized the importance of thorough research when selecting a short-term rental. “Our recent white paper highlights that lifestyle-oriented communities with vibrant assets and good connectivity are preferred by families.
Investors can capitalize on this trend by choosing properties that offer the best returns.” Anthony Joseph Abou Jaoude, Founder and CEO of Primestay, identified Business Bay, Arjan, Jumeirah Village Circle, Downtown Dubai, Palm Jumeirah, and DAMAC Hills as particularly popular areas for short-term rentals. These locations provide a blend of world-class amenities and trendy communities, making them attractive to visitors seeking unique experiences.
The rising demand for short-term rentals in Dubai presents landlords with lucrative opportunities for high occupancy rates and att.