AirDNA analyzes the state of the vacation rental market in Dubai
Dubai: short-term rental data provider AirDNA analyzed the state of the Dubai vacation rental market in a blog post, following an increase in vacation rental business and opportunities in the City of Gold.
As Airbnb launched its own Arabic-language website in May and as Dubai gears up for its highly anticipated Expo 2020, AirDNA revealed its key findings on the Dubai short-term rental market, which can be seen below :
- Vacation homes in Dubai have generated $ 136.7 million in the past year, surpassing all other countries in the Middle East and Africa.
- Short-term rentals increased 69.5% from June 2018 to June 2019, which is exponential compared to a modest 7% growth in hotel rooms during the same period.
AirDNA has provided the following tips to Dubai vacation rental customers:
- Dubai is currently the fifth most expensive city in the world to book vacation rentals. However, prices are down seven percent from last year, so this could be a good time to visit the city. As the industry grows and competition increases, hosts typically lower their prices to attract customers, reviews, and ratings.
- Palm Jumeirah is home to the most expensive rentals in Dubai, at ADR $ 500.
AirDNA has provided the following tips to vacation rental hosts:
- Hosts who register on both Airbnb and HomeAway platforms get a higher occupancy rate and a higher average daily rate than a single registration.
- The launch of its Arabic website by Airbnb is a step in the right direction. However, currently only 9% of Airbnb visitors to Dubai have defined Arabic as their mother tongue. The largest proportion of international vacation rental guests in Dubai come from London.
For more information, see the full AirDNA blog post. here.