Has the Coldplay concert impacted demand for short-term rentals in Dubai?
Wednesday 08 January 2025Wednesday 08 January 2025
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Has the Coldplay concert impacted demand for short-term rentals in Dubai?

Has the Coldplay concert impacted demand for short-term rentals in Dubai?

The much-anticipated British band, Coldplay, have made their way to Abu Dhabi for their four-day concert in Abu Dhabi which sold out within minutes.

This band’s upcoming gig created an incredible surge in demand for short-term rental properties, spanning all the way to Dubai. Hotels in Abu Dhabi have seen a 30% increase in pricing, with full occupancy throughout this weekend, and many visitors are now flocking to rent holiday homes in Dubai ahead of the concert.

With occupancy rates in Dubai reaching 85% in key areas such as Dubai Marina, Dubai Investment Park, Expo City, and locations along the route to Abu Dhabi. Data from Allsopp & Allsopp Holiday Homes highlights that larger properties, particularly two and three-bedroom units, are experiencing the highest demand as groups of fans look for cost-effective shared accommodation.

This surge reflects a broader trend of how major international concerts impact the UAE’s short-term rental market. During such events, properties near key transit routes such as Sheikh Zayed Road tend to see significant booking spikes for convenience and accessibility.

“In 2023, we saw similar trends with concerts like Bruno Mars and Ed Sheeran. This resulted in a 60% increase in inquiries for short-term rentals, whilst Ed Sheeran’s Abu Dhabi performance created bookings throughout Dubai.” Says Lewis Allsopp, Chairman of Allsopp & Allsopp Group.

In addition to international artists, the recent Formula 1 event in Abu Dhabi, has not only shown an increase in enquiries but hotel occupancy also increased with prices surging to 85% higher than the 2023 Formula 1 weekend and 170% higher than the week before the event.

The increased demand for short-term rentals during major events highlights the significant opportunities for property owners. Homeowners are actively listing their properties with Allsopp & Allsopp Holiday Homes during such periods and have seen notable benefits. These include optimised marketing of their properties to attract event-goers, flexible booking options to meet guest needs, and higher rental income compared to off-peak periods.

This has also significantly impacted the demand from investors who are coming to Dubai to capitalise on the short-term rental market. We have seen investors across 2024 generate ROIs of nearly 30% from their properties, especially during season time.

Planning to book your holiday home this weekend?

You can drop a line to our in-house short-term lettings team to know more about the market's availability!

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