Demand for short-term lets is growing fast
http://www.bnbme.me/whatwedo#
https://www.thenational.ae/uae/demand-for-short-term-lets-in-dubai-growing-10-times-faster-than-for-hotels-1.909900
Demand for short-term lets in Dubai is significantly outstripping that for hotels, a new report has found, as holidaymakers look for better deals and home comforts during their stay.
In a city famed for its dazzling hotels, travellers are increasingly searching for private apartments and villas.
A report by market analysts Air DNA recorded growth of almost 70 per cent in short-term rentals between June 2018 to June 2019.
Demand for hotels during the same period grew by a more modest 7 per cent, according to the report.
Vacation homes nationwide have generated $136.7 million during the same 12-month period as demand continued to grow - though that remains small compared to a Dubai hotel market worth billions of dollars.
“The quality of apartments has improved as have the services on offer,” said Vinayak Mahtani, chief executive of Bnb ME, which manages and maintains short-term rents for owners.
“Property owners have more confidence in the properties doing better than in the long term, so better value properties are coming on the market.”
The growth of the market was in the spotlight last week when Emaar launched its own short-term letting platform Ease.
Vinayak Mahtani said demand for short-term lets is growing fast
http://www.bnbme.me/
Vinayak Mahtani, Bnb ME
+971 50 872 6270
hello@bnbme.me
https://www.thenational.ae/business/property/emaar-bans-holiday-home-operators-in-downtown-as-it-ventures-into-short-term-rental-market-1.907389
Emaar also entered the holiday home market with its own digital platform called Ease by Emaar, which allows owners within its developments to list their properties for short-term rental.
https://www.thenational.ae/uae/demand-for-short-term-lets-in-dubai-growing-10-times-faster-than-for-hotels-1.909900
Demand for short-term lets in Dubai is significantly outstripping that for hotels, a new report has found, as holidaymakers look for better deals and home comforts during their stay.
In a city famed for its dazzling hotels, travellers are increasingly searching for private apartments and villas.
A report by market analysts Air DNA recorded growth of almost 70 per cent in short-term rentals between June 2018 to June 2019.
Demand for hotels during the same period grew by a more modest 7 per cent, according to the report.
Vacation homes nationwide have generated $136.7 million during the same 12-month period as demand continued to grow - though that remains small compared to a Dubai hotel market worth billions of dollars.
“The quality of apartments has improved as have the services on offer,” said Vinayak Mahtani, chief executive of Bnb ME, which manages and maintains short-term rents for owners.
“Property owners have more confidence in the properties doing better than in the long term, so better value properties are coming on the market.”
The growth of the market was in the spotlight last week when Emaar launched its own short-term letting platform Ease.
Vinayak Mahtani said demand for short-term lets is growing fast
http://www.bnbme.me/
Vinayak Mahtani, Bnb ME
+971 50 872 6270
hello@bnbme.me
SHORT-TERM LET PERMITS EXPLAINED
Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.
Tenants also require a letter of no objection from their landlord before being allowed to list the property.
There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.
Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.
https://www.thenational.ae/business/property/emaar-bans-holiday-home-operators-in-downtown-as-it-ventures-into-short-term-rental-market-1.907389
Emaar also entered the holiday home market with its own digital platform called Ease by Emaar, which allows owners within its developments to list their properties for short-term rental.
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