The Dubai real estate market is poised for an interesting year in 2019. With the government investing a record amount in the economy for the next three years, and third quarter real estate transactions in 2018 reporting both year-on-year and month-on-month increases, it’s an exciting time to be participating in Dubai real estate.
Residential rentals in Dubai are not performing as well as in past years. BUT vacation rentals across the city are thriving! If your Dubai apartment is available for just a few days a month, or for months at a time, here are five reasons to use short-term rentals with your property:
Dubai can add another hit to its long list of advantages: fantastic for families! With all there is to do and experience in Dubai–along with the city’s welcoming approach to families—it’s no wonder Dubai is an ideal family travel destination.
Muslims around the world use the beginning of May to prepare for Ramadan and Holy Month. Ramadan is an important part of the Muslim faith. In 2018 it will start near the middle of May and will take place until the middle of June. It includes prayer, fasting from sun up until sundown every day, giving to charity, and nightly feasts.
The Dubai World Cup 2018 is one of the world’s richest horse races with a USD 30 million pot (USD 10 million to overall winner) for nine high-class races. It’s always the final event in the horse racing season and Dubai’s biggest sporting event of the year. Not just for fans of horse racing, this star-studded affair is a social event where fashionistas and the rich and famous mingle amongst 50,000 visitors for the day’s events.
Art lovers from around the world are beginning to arrive in Dubai for Art Dubai 2018. Since its founding in 2007, Art Dubai has become the place to view not only Middle East and North African art, but art from over 40 different countries. Emerging artists, innovative art spaces, galleries, and household names in art will all gather together to celebrate contemporary and modern art. 2018 will be the most globally diverse Art Dubai to date.
When you think about Dubai, the term ‘green’ probably doesn’t come to mind. But with Dubai’s changing policies and new investments into renewables, ‘green’ is becoming part of Dubai’s legacy. The city is taking significant steps towards becoming one of the most sustainable cities in the world. Just over a decade ago, Dubai was a city with one of the largest ecological impacts worldwide. For a city that also used to rely primarily on oil revenues, the transition to green sustainability is more than impressive.
The short-term rental market in Dubai is growing, thanks in part to the success of Airbnb. With the February 2018 launch of Airbnb’s new premium level Airbnb Plus, the opportunities to target discerning guests (and generate higher revenue) will soon be available to hosts worldwide.
The UAE is leading the region in developing gender equality policies and encouraging women in their quest to build businesses. Alongside this effort, in 2017 the Dubai Business Women Council (DBWC) signed an agreement to promote gender equality with the UN Global Compact—a corporate sustainability initiative. Within the region, women are becoming increasingly involved in starting their own businesses and in taking on more corporate roles. But how can this impact the Airbnb market in Dubai?
Expo 2020 will be one of the most significant events in Dubai’s modern history. The first event of this magnitude to take place anywhere in the middle east, it represents the UAE’s new identity as a worldwide travel destination. The theme for Expo 2020 is Connecting Minds, Creating the Future. It will be an exposition of innovation, ingenuity, and collective human potential such as the world has never seen before.