A great investment opportunity on short-term rental properties in Dubai
Dubai is a place that people want to visit. Some come and live here, while others stay for only a few days. The cost of living in the city is quite high, as there is so much to see and do. But it seems that the short-term rentals pay the highest price of all. Research into Airbnb shows that the average cost of an Airbnb stay in the city of Dubai is more expensive than any other in the world. To stay in Kuala Lumpur for a month averages out at $1,664 through the site. In comparison Dubai comes in at an average price of $15.892.
Airbnb shows great returns for the investor
And there are two sides to every story. While it may cost a lot for a visitor, the investor can make good money through the site. Airbnb makes a big difference to the savvy investor. By using traditional methods, a landlord could expect on average to recoup their investment in a Dubai property in around 187 months. On Airbnb expect this to drop to an average of only 46 months. There are around 4,000 homes in Dubai that are classified as holiday homes. These are some big figures.
What does this do to the market?
Airbnb makes a big difference to every market it touches. Availability drops via traditional avenues and the prices tend to rise as a result. Property is seeing a rise in price in Dubai currently. Short term lets are a great way to make money from an asset that you may have. Airbnb is something that any property owner should look into, especially in big cities like Dubai. It is another way to get your property out there to the market. The future of property ownership will look very different to the past.