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The Short-Term Rental Market in the UAE: High Returns and Promising Prospects
二月 26, 2024
The Short-Term Rental Market in the UAE: High Returns and Promising Prospects 迪拜
By   Internet
  • 都市报
  • UAE Property
  • Property Short Lets
  • Property Returns
Abstract: The UAE's short-term rental market is gradually emerging, attracting more property owners to convert their properties into short-term leases to gain lucrative returns. The high profitability and flexibility associated with short-term leasing are driving factors behind this trend, enabling property owners to manage their assets freely.

Many first-time property owners are leveraging short-term leasing as a secondary source of income, choosing to list their properties for short-term rental.


During the COVID-19 pandemic in 2020, the short-term rental market faced certain challenges, but with the rise of "revenge tourism" post-COVID-19, the market has shown signs of rapid recovery. Both UAE nationals and foreign property owners are increasingly interested in the short-term rental market, viewing it as a primary alternative source of income.


Compared to long-term leasing, the short-term rental market offers higher returns, typically around 20% higher. This prompts many property buyers to opt for short-term leasing after purchasing a property to earn additional rental income. Especially in places like Dubai, the short-term rental market is highly favored, with returns exceeding those of other areas.


The Short-Term Rental Market in the UAE: High Returns and Promising Prospects

khaleejtimes.com


Dubai, being one of the prime areas for the short-term rental market, boasts numerous densely populated and attraction-rich areas such as Dubai Marina, Jumeirah Beach Residences (JBR), Palm Jumeirah, and Downtown. Apart from these areas, Jumeirah Lakes Towers (JLT), Jumeirah Village Circle (JVC), and the upcoming Meydan are also considered high-return areas.


In 2023, Dubai's rental market witnessed a significant number of new contracts being signed, with rents generally increasing. This is attributed to the market's recovery post-pandemic, with investors turning to short-term leasing to pursue higher investment returns. With an increase in travel demand expected, the short-term rental market is projected to continue its growth trend in 2024.


In addition to Dubai, emirates such as Abu Dhabi and Ras Al Khaimah are also entering the short-term rental market, demonstrating rapid growth trends. The length of stay in vacation rental homes is also gradually increasing, reflecting the market's potential and allure.

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The Short-Term Rental Market in the UAE: High Returns and Promising Prospects
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