Dubai has always been ruling the markets with its impressive records and numbers! From apartments being purchased from AED 125 million to AED 420 million in the same week - there’s always something exciting going on in Dubai’s real estate market.
So, when the government approved releasing licences to homeowners back in 2016 for them to be able to put their homes up as holiday homes in Dubai - you can trust us when we tell you, it was incredible for the short-term rental market.
As incredible as 30% return on income for holiday homes in Dubai - yes, we’re serious.
So, now to ease and improve holiday homes in Dubai, the government has launched - Drumroll please!
And we think it's sure to improve the short-term rental market in Dubai.
Dubai’s Department of Economy and Tourism (DET) has launched a new QR Code initiative for Holiday Homes in Dubai. With this initiative, owners of holiday homes will now be displaying a QR code on the main entrances of their vacation properties in Dubai for visitors to verify and scan.
This move aims to improve transparency and increase confidence among investors and visitors in the short-term rental market - also helps them feel safe within the property.
After scanning this verification code, visitors can access information about the operator of the holiday home in Dubai and the relevant contact details for DET - incase of any issues.
The implementation of this initiative will be supported by the Dubai Corporation for Consumer Protection and Fair Trade, which is a division of DET. This collaboration aims to ensure that all procedures are strictly followed, and regular inspections are conducted to maintain high standards.
All these digital transformations are in part of Dubai’s 2030 urban masterplan to better innovate the city’s standards and digitise all systems.
Holiday homes in Dubai and short-term rentals such as Airbnb’s in Dubai are rapidly becoming a hot alternative to traditional annual rentals, especially with the city's booming tourism industry and plans to prioritise tourism.
And, with Dubai Airports seeing a 96% rise post-pandemic, the market performing at its best, and there hasn’t been a better time to consider short-term rentals as tourism spending has crossed AED 108 billion in the city. Dubai has also been ranked the number one travel destination by TripAdvisor which has flocked numerous tourists down to Dubai.
So, if you are an investor looking to boost your ROI from 10-12% to 30%, holiday homes such as Airbnb’s are definitely the place to start as short-term rentals are currently at their busiest too!
Wondering how you can get started?
If you’re considering short-term rentals, you could get in touch with our in-house experts to get a realistic idea of the listing portals where your property would be listed, such as Airbnb and Booking.com.
Once the formalities and inspections are completed, you’re just minutes away from having your holiday home on the market!
How easy was that?