Holiday homes are becoming a hot alternative to traditional annual rentals in Dubai, especially with the city's booming tourism industry and plans to prioritise tourism.
For many property owners, letting out their homes as holiday homes means more cash in their pockets! Just take a look at the numbers; a four bedroom villa in Dubai Hills made AED 354,807 last year in the holiday home market, compared to an expected annual rent of AED 280,000. If we take a look at Dubai Marina, a one bedroom apartment brought in AED 238,906 last year via the holiday home market, compared to an expected AED 185,000 on the annual market (these figures are correct as of February 2023, for up to date figures please speak to a member of our team). Similar examples are seen all over Dubai and with year on year increases in tourism figures, the demand for holiday homes can only keep increasing, making it a smart investment choice.
Plus, renting out your home as a holiday home is a lot easier and more flexible than traditional annual rentals. For one, you are able to book out the property at any time for your own stay, or that of visiting friends or family. On top of that, should you ever want to sell, you don’t need to worry about serving a 12 month notice to long term tenants, meaning that your property will always be more attractive to potential purchasers.
With Allsopp & Allsopp, we will take care of every aspect of the service and your property, from bookings, to guest relations, to maintenance issues, ensuring your property is always well looked after.
What’s not to love?
Contact us today for more details and a free proposal to see if it is something that could work for you!