Dh4,500 per Day: Dubai Short-Stay Rents Surge 50%, New Year Will See Another Spike

Dh4,500 per Day: Dubai Short-Stay Rents Surge 50%, New Year Will See Another Spike

Property investors and landlords in Dubai who had put their faith in short-term rentals have been amply rewarded all through December, with year-on-year rate increases even touching highs of 50 per cent, according to market sources.

A significant number of these bookings are for an entire week’s worth of stay, with apartment leases averaging Dh1,500-Dh2,500 a day depending on location, scale of demand, etc. Further up the luxury chain and where the demand is to lease an entire villa, that’s where a lot of the current rate surge is happening.

And the best part? With still some last-minute bookings expected from now through to the first weekend of January 2024, those rate gains could see yet another spike. Short-stay properties in Dubai – and more so in the luxury category – have seen bookings end-to-end all this December.

On the Palm, rates of Dh4,500 a day and over are showing up in the listings, while posh two-bedroom options in the Downtown are nudging closer to Dh2,500.

Which, sources add, is a contrast to how demand had traditionally been in the first-half of December in recent years.

“(Early) December is normally slower as tourists don’t travel in the weeks leading up to New Year’s Eve,” said