Why Are Short-Term Rentals on The Rise in Dubai?
According to a recent survey, the residential and commercial short-term rentals in Dubai are increasing at a faster rate. Some of the most known areas in Dubai are witnessing a double-digit surge in rents. These areas include Dubai Marina, Jumeriah Beach Residence, Jumeirah Lake Towers, Palm Jumeriah, etc. Not only this, Dubai Marina witnessed a 25 percent increase in rentals in the first quarter of this year, in comparison to the same period last year. Also, places like Palm Jumeriah Beach Residence saw an increase of 22 percent in rentals in the first quarter of this year. According to the industry executives, this upward trend in rentals is expected to continue in the near future.
While you invest in Short Term Rental Properties Dubai, you can expect a good rental return in the coming year. This increase in demand for short-term rental properties is due to the current trend of work-from-home, staycations, and regional travel with some companies reporting 90 percent average occupancy in the most known areas of the emirate i.e., Palm Jumeriah, Downtown Dubai, JBR, Dubai Marina, and City Walk.
In recent years, the rental market has been tenant-friendly in Dubai, however, the rental rise is expected to balance out and start favoring the landlords. However, this surge is not witnessed in the entire city uniformly. Most of the demand for the property has been seen in the mid-to-high-end segment but unabated demand for rental property is now getting inclined towards affordable areas. The demand for short-term lets in Dubai is significantly outstripping that for hotels. More and more holidaymakers look for better deals and homely comforts throughout their stay.
Travelers now prefer private apartments and villas over hotels making it a point for the investors to make the most out of this chance. This increase in demand and rise in rentals makes investing in Short Term Rental Properties Dubai a worthy decision.
If you are planning to invest in Dubai properties, then it is the right time to make an investment in short-term rental apartments, in order to make the most out of this surge. Real estate can be tricky, so you might need assistance from a professional like Sweet Home Dubai. You can check out the latest listings on our website i.e., https://www.sweet-home-dubai.com/ or can discuss your queries with our experts at +972 03-644-44-46. So, what are you waiting for? Make the most out of this surge in demand and price and make your next big real estate investment with us.