Dubai is the fastest growing emirate of United Arab Emirates. It has gained international fame among tourists, holiday makers and business travelers. It has buildup its image as an ideal place to spend leisure time with your family and friends and a land of opportunities for investors and job seekers. The emirate has numerous worth seeing places and fun and entertainment spots catering needs of all age group. Moreover, international multinationals and individual entrepreneurs also take keen interest to establish their franchises and businesses here due to tax free business opportunities and state-of-the-art facilities. The place has simply become a haven for all expats irrespective to their reason of visiting Dubai.
Reasons for rising demand of short term rental in Dubai
Emirates cosmopolitan environment, friendly locals, world class infrastructure and flexible government policies have played a great role in making this city a best place to relocate. Today, Dubai has become a magical city across the globe offering endless opportunities for everyone who is willing to improve his/her standard of living. Keeping their focus on increasing rate of people coming to Dubai, State Government and developers worked in collaboration to build this city to fulfill all residential and business accommodation needs of people coming here with different aims and objectives.
Initially, hotels fulfill accommodation needs of travelers and holiday makers, whereas some hotels only provide accommodation for business travelers. But due to everyday increasing number of foreigners and even UAE nationals of other emirates have resulted to produce some alternative accommodation options in Dubai, which are available as short term rental accommodation for everyone including singles, families and corporate groups. Visitors can rent such short term rental properties for variable period of time that ranges from a day to few weeks or even months and for a whole year. Tenants are allowed to occupy such short term rentals as long as they want with almost complete freedom of living their own home. Another best thing about finding short term rental accommodation is that lodgers can enjoy living in well furnished living space. They don’t need to bother buying daily routine items. This way they can save their money in case they are not willing to settle down here forever.
Famous short term rentals in Dubai include hotel apartments, studio-apartments, one, two and three bedroom apartments, villas and resorts. Usually these short term rentals are well furnished with daily life’s amenities and known as serviced apartments. Real estate experts have observed a recent rise in demand of short term rentals in Dubai among new expatriates, holiday makers and even business travelers who are willing to find some affordable accommodation without compromising standard of quality. Demand for short term rentals in Dubai has been continuously increasing among expats and holiday makers due to several reasons like providing modern life amenities at cheaper cost, more space as compared to hotels and in fact with more privacy. Besides this, facilities like kitchen, personal door, private garden (villas) make expats feel like living their own home. Usually, such accommodation places are located in best sub-rubs of the city, in order to provide easy accessibility to main city attractions and commercial centers.
Such rising demand of short term rentals in Dubai has also dragged attention of investors to invest in short term rental properties in Dubai. Due to global economic recession Real estate market of Dubai also experiences a downfall and property’s prices significantly fall down. In such conditions home owners can earn good profits in the form of rental income. In addition to travelers and holiday makers, expatriates who are planning to relocate Dubai also considering short term rental options for longer period of time like for one or two years. Such expats living in short term rental assets can get enough time to collect funds to make a property purchase.