Dubai: Short-term rental data provider AirDNA has analysed the state of the vacation rental market in Dubai in a blog post, following a surge in vacation rental business and opportunities in the City of Gold.
With Airbnb launching its own website in Arabic in May and Dubai preparing for its much-awaited Expo 2020, AirDNA revealed its key findings into Dubai’s short-term rental market, which can be seen below:
- Vacation homes in Dubai have generated $136.7 million over the last year, surpassing all other Middle Eastern and African countries.
- Short-term rentals grew 69.5 per cent from June 2018 to June 2019, exponential when compared with a modest seven per cent growth in hotel rooms over the same period.
AirDNA provided the following tips for vacation rental guests in Dubai:
- Dubai is currently the fifth most expensive city in the world to book a vacation rental. However, prices have dropped seven per cent from last year, so now could be an opportune moment to visit the city. As the industry grows and competition increases, hosts typically lower their prices to attract guests, reviews and ratings.
- Palm Jumeirah houses Dubai’s most expensive rentals, at $500 ADR.
AirDNA provided the following tips for vacation rental hosts:
- Hosts that list on both the Airbnb and HomeAway platforms achieve a higher occupancy rate and higher average daily rate than listing just on one.
- Airbnb launching its website in Arabic is a step in the right direction. However, currently, only nine per cent of Airbnb visitors to Dubai have Arabic set as their native language. The largest proportion of international vacation rental guests to Dubai come from London.
For more information, view AirDNA’s blog post in full here.