The short-term rental market in Dubai is experiencing a significant surge, with demand increasing by a remarkable 30% compared to the previous year. This surge is reshaping the real estate landscape of the region, offering lucrative opportunities for property owners and attractive accommodation options for visitors.
Myles Rothwell, Managing Director at Edwards and Towers, a leading real estate brokerage in Dubai, attributes this growth to the rising tourism and the increasing demand for flexible living options. He states, “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, underscores the importance of careful research when selecting a short-term rental. He emphasizes, “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, identifies specific areas that are particularly popular for short-term rentals: Business Bay, Arjan, Jumeirah Village Circle, Downtown Dubai, Palm Jumeirah, and DAMAC Hills. These locations offer a compelling combination 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 a prime opportunity to achieve high occupancy rates and attractive rental yields. As Dubai continues to be a highly sought-after luxury travel destination, the demand for high-end accommodations, including spacious villas and apartments, is expected to remain strong.
