Real estate experts confirmed in a report issued by the Property Finder website, which specializes in real estate consulting, the attractiveness of short-term rentals in Dubai for visitors and investors, with the high demand and increasing interest in this type of property.
The report quoted Miles Rothwell, CEO of Edwards & Towers, a real estate brokerage and surveying company in Dubai, as saying that last year witnessed a significant increase in short-term rentals in Dubai, compared to 2022, with a 30% increase in bookings due to the recovery in tourism and the growing demand for flexible housing and accommodation options, which led to a 20% increase in investor returns, which is higher than traditional rental contracts.
“Our recently released technical report, ‘Opening Doors: UAE Real Estate Market Indicators, Trends and Forecasts’, reveals that most short-term renters with families prefer modern residential communities with vital amenities and easy connectivity to other areas,” said Sherif Soliman, Chief Revenue Officer at Property Finder. “As consumers (visitors) look for unique experiences, there are valuable opportunities for investors to choose the right properties that generate higher financial returns. The growth of the short-term rental sector is a significant development in Dubai’s real estate market,” he added.
In turn, Anthony Joseph Abou Jaoude, founder and CEO of Primestay, a holiday home rental company in Dubai, confirmed that in addition to the increase in demand, specific areas have emerged as more popular and attractive destinations for short-term rental options in Dubai.
“Dubai has become a leading destination for luxury travel in recent years, with families and groups increasingly opting for spacious holiday homes over multiple hotel rooms, leading to increased demand for holiday villas and spacious apartments for short-term rentals,” said Abu Joudeh.
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