Dubai’s short-term vacation rental market sees strong growth

Dubai’s short-term vacation rental market sees strong growth

The rise in demand for short-term rental properties is expected to pick up even more speed this year following the formal rollout of new visa policies implemented to spur further global tourist arrivals to the country. The UAE government has announced new regulations for the holiday homes industry, including a scheme that allows homeowners to rent out their properties for up to 180 days per year at 50% below market value. The scheme also gives homeowners tax breaks and allows them to keep their earnings from rental income. Homeowners can now register with the Department of Tourism and Commerce Marketing (DTCM) and rent out their properties either directly or through an agency like BLVD Holiday Homes. The scheme is only available for residents of the UAE, who must have lived in Dubai for at least three years before applying. They can earn up to 50% more by renting out houses as holiday homes says Rania Mrassi CEO of BLVD Holiday Homes: “We are very excited about this announcement because it’s going to give people a lot more choices when it comes to buying and renting out their house here in Dubai.” Rania, a Tunisian-born entrepreneur who now calls Dubai her