Dubai anticipates summer property rental surge

Dubai’s short-term rental market is expected to see growth during the summer, says accommodation management company Frank Porter. The UAE is becoming an increasingly appealing destination for both business and leisure travellers due to innovative tourism strategies in Dubai and escalating costs at European vacation spots.

Fueled by the UAE’s wide array of entertainment options, a packed event calendar, government-led tourism promotions, and new air routes connecting Abu Dhabi, Dubai, and Ras Al Khaimah, the short-term rental sector is gearing up for a busy summer.

2024 tourism figures continue to trend upward since Dubai hosted 17.15 million international overnight visitors last year—its highest ever. There has been nearly a 20% increase in overnight visitors early this year compared to the previous year, with high expectations for the upcoming summer.

As summer nears, the typically slower season in the UAE is predicted to be lively. High prices in popular European destinations might deter travellers, making Dubai, Abu Dhabi, and other rapidly evolving Emirates like Ras Al Khaimah more attractive, even during the hotter months.

The UAE is enhancing its year-round appeal by broadening its offerings. From large shopping centres combining retail, dining, and entertainment to over 800 hotels with climate-controlled pools and indoor attractions like theme parks and water activities, the UAE continues to expand its tourist attractions.

Additionally, the Dubai Government aims to boost tourism’s GDP contribution to AED 450 billion ($122.5 billion) by 2031, with its summer campaigns playing a crucial role in achieving these objectives. The UAE’s tourism boards are planning various incentives for international visitors this summer, including “kids go free” promotions, dining specials, and city-wide shopping festivals.

Short-term rentals are becoming a preferred choice for summer visitors, offering affordability (especially as hotel prices tend to lower in the summer) and a more personalised and comfortable experience. Travellers often opt for longer stays to make the most of the school holidays and quieter business periods during the summer.

Many travellers choose a blend of business and leisure for their vacations, allowing them to extend their stay. Short-term rentals are ideal for this hybrid travel style, providing a home-like atmosphere with separate areas for living, dining, sleeping, and working.

Anna Skigin, CEO of Frank Porter, commented that the UAE continuously enhances its year-round offerings. With visitor numbers at peak levels, she anticipates the summer of 2024 to set new records for short-term rentals. The country remains vibrant throughout the summer, with a growing range of activities from theme parks to museums and hotel amenities like swimming, spa treatments, and dining.

Summer is the peak season for family travel, and short-term rentals help families enjoy extended vacations in a home-like setting. With a wide variety of properties available, from studios in DIFC for solo business-leisure trips to spacious apartments in prime locations like Dubai Marina or Palm Jumeirah, there is something to suit every traveller’s needs.

Original article reference: Arabian Business.


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