Boon for Dubai’s booming Airbnb business as listings double – The National

Boon for Dubai’s booming Airbnb business as listings double – The National

Dubai has registered a remarkable increase in Airbnb listings over the last three years, which have doubled in number as the growing global trend starts to take hold in the emirate.At present, there are slightly fewer than 25,000 active Airbnb listings – up by more than 11,000 from 2021 – with annual average occupancy at 56 per cent, according to Dubai-based real estate consultancy Valustrat, which has tracked and analysed the data it sourced from the California-based company.Valustrat said almost half the private properties are located in the city's prime tourist areas of Dubai Marina, Jumeirah Beach Residence, Downtown Dubai and Business Bay.It is a lucrative business if you can get it right. An average profit margin of about Dh3,500 ($1,000) per unit each month is a typical target and most will aim to build a portfolio comprising tens of properties.In 2022, Dubai was ranked as the most profitable location in the world for Airbnb landlords, according to a survey by UK-based landlord insurance company CIA Landlords.The survey found that landlords who leased properties in Downtown could command an average of £930 ($1,150) per night.In the summer, it's all about breaking even to make money in the winterRedeet Negate, SmartStay