Holiday home rentals in Dubai are becoming increasingly popular as more people are looking for unique and affordable ways to explore different places. Renting a holiday home in Dubai offers a great range of benefits that can’t be found in traditional hotel accommodations, such as more space, privacy, and flexibility. It also allows travellers to experience the local culture in their own way by living like a local.
Holiday homes provide travellers with an ideal opportunity to get away from the hustle and bustle of everyday life, while still being able to enjoy all the comforts and amenities they would have at home. Whether it’s for a weekend getaway or an extended stay, holiday homes can provide the perfect solution for those looking for an affordable yet comfortable vacation rental in Dubai.
Statistics Illustrating the Growth in Demand
The growing demand for holiday homes has been evident in statistics collected post the start of the pandemic. While the hospitality industry and hotels were hit severely due to the onset of Covid-19, the holiday homes sector although very similar to the hotel industry was not affected as much post the onset of the pandemic. Hotels had garnered an occupancy rate of just 57% while holiday homes saw a rise to occupancy rates of a booming 90% in some of the more popular destinations in the UAE. In 2016, the UAE introduced new regulations for holiday homes by individual owners, and the market has not seen a slump since this move and it has instead seen significant growth, especially since the pandemic.To further solidify this growth trajectory, in 2022, Dubai was declared the world’s most popular destination for travellers and it was also declared the fourth best place to invest in a holiday home.
A few Reasons behind the Increase in Demand
This popularity and growth were seen due to the space and privacy offered by these holiday homes to a different group of travellers who weren’t classified as the typical tourist. These individuals wanted the comforts of home, but with an edge. The rise in demand can also be attributed to an obvious rise in the population graph of the country. Although during the pandemic, the population of the UAE had dipped by 8.5%, it was hit by a surge that has crossed the 3.5 million mark in Q2 of 2022. This statistic is only going rise as the country plans to hit the 5.8 million mark by the end of 2040 according to its master plan. A local newspaper also placed on record the rise in the staycation boom in the country in the previous years. As of June 2021, 92% of UAE residents had opted for holiday homes for staycations as opposed to hotels. Moreover, the highly efficient handling of the pandemic by the government resulted in many people wanting to relocate to the UAE for their own safety, and this consequently brought about a rise in demand for holiday homes.
While the holiday home market is a new concept in the UAE, its regulations and laws have made it easier for individuals to own holiday homes and the sector has seen a booming rise since its inception in the country. Stay by Latinem and Shoba Constructions believe that this market is only going to rise to further heights as the market matures, which in turn makes the UAE an inviting space for investors and tourists alike. Holiday homes have also proven to gain higher yields in terms of return on investment, thus making it an attractive venture for investors and home buyers alike.