When it comes to the fastest-growing economies of the world, Dubai is on top of that list. Dubai’s tourism industry has been growing steadily popular among all sorts of travelers like holidaymakers and business travelers. Dubai has marketed itself as the ideal place to shop, go on vacation and even as the land of unlimited opportunities.
The city is full of landmarks to see, adventures to have, and luxury to experience. When in Dubai, you cannot have one boring moment. This is the charm of being in Dubai. This is how Dubai cashes itself. This land is the land of gold for investors and job seekers alike, where every stroke gets you everything you ever dreamed of.
Tourism thrives when kids and adults alike can enjoy a place, and Dubai offers this and more. Apart from that, Dubai also provides tax-free business opportunities with state-of-the-art facilities; this is the reason why most of the investors are so keen to invest in business establishments and franchises here. Whether you come to Dubai to settle down or to have your next big adventure, this city will not disappoint.
Short Term Rental In Dubai
Dubai offers a cosmopolitan environment, affable locals and residents, classy infrastructure, and government policies that are flexible and convenient. It is one of the rare cities that is ready to help you raise the bar of your lifestyle if you are willing to. With tourism growing so strong, the demand for short-term rental properties in Dubai is increasing as well. Not only that, but the government of Dubai is also seizing this opportunity and supplying the renters with unlimited residential and business accommodation.
Short Term Rentals In Dubai: Why Such A High Demand?
Earlier, Dubai was providing accommodations to travelers and holidaymakers through hotels. However, the increasing number of travelers has opened the gates to a new type of accommodation; short-term rentals. UAE nationals, as well as foreign investors, have both started investing in short-rental rentals owing to the increasing demand of luxury holidaymakers and high-end business individuals. Short-term rentals work for all types of travelers, i.e., singles, families, and corporate groups. They come in all shapes and sizes; most of them are also fully furnished to keep their renters fully satisfied.
Visitors, travelers, and tourists can easily get these on rent for both the long and short term. These are available from a day to a week to even a month. The best part is, for as long as you stay, this rental becomes as good as your home; you have complete freedom just like the owner of the house would. These short-term rentals come with all types of perks, including pools, gyms, spas, as well as fully furnished and stocked pantries and daily use appliances. So, the renters don’t even need to buy the necessities even. It is rent, and enjoy your time off from your routine life and work.
You can rent villas, apartments as well as two- and three-bedroom apartments in Dubai. If you live the singles’ dream, you can rent a cool studio space for yourself. For big families, renting a resort is more beneficial as it comes with all kinds of amenities kids and adults can both enjoy. Real estate locals, as well as investors, have observed that travelers are hungry for luxury living but with affordable prices, and this makes it the perfect time to invest in the short-term rental and earn quick ROI. There are many reasons why the short-term rental is preferred over hotel rooms:
- Modern lifestyle
- Amenities and facilities
- Cheaper cost
- More space
- More privacy
All the above-mentioned are the top reasons why travelers and holidaymakers prefer rentals over hotel rooms. Apart from these reasons, a hotel room can never give the at-home feeling that a short-term rental does. The class and branded living cannot achieve by renting a room in the hotel. Moreover, investors have strategically bought their rentals close to the main attractions and landmarks of the city to offer easy accessibility to the renters.
High Demands Of Short-Term Rentals Has Attracted Investors:
The travelers and holidaymakers now have a taste for luxury that only a city like Dubai offers. This rise in short-term rental demand has attracted investors from around the world. Not only that, but it has also motivated homeowners to list their dwellings as short-term rentals to combat the effects of the pandemic. As the property prices go down in Dubai, ex-pats close in and rent short-term accommodations, so that they can collect enough funds to buy their property in Dubai. It sounds like the best opportunity to invest in short-term rentals.
Popular Areas To Invest And Rent In Dubai:
The whole of Dubai is packed with ideal locations for both renting and investing. However, there are some areas that trump others. Locations like Dubai Marina and The Palm Jumeirah are leading the list of areas that are ideal for renting and investing in Dubai. As the pandemic eases out, Dubai is becoming safe to travel again; this makes these two locations the hottest ever to rent. Next in line are Downtown Dubai and JBR; both of these locations offer luxurious amenities as well as diverse rentals like villas and apartments.
Affordable Rental Rates
The rental rates vary from one location to another; for example, prime locations like Palm Jumeirah Villas see a rise of 10 percent year on year. On the contrary, Dubai Marina is experiencing a decrease of 10 percent year on year. This makes the annual rental rates go down by 18%. Such rates are ideal for investors and renters alike. The decrease in rental rates makes it suitable for renters to go for short-term leases over the usual long-term ones.
For all the investors looking to put their money in Dubai’s rental market, this is the best time ever. With flexible payment plans, a rise in interest rate by 4.5%, and an unlimited remittance limit, this is the most stable income opportunity Dubai has to offer. Dubai’s real estate industry is growing leaps and bounds every year; it is the time for investors to let go and strike while the iron is still hot.