The Dubai Short-Let Market Report Q4 2024

Dubai Welcomes 16.79Million Tourists from January - November 2024

The first 11 months of 2024 saw a 9% increase in tourism compared to the same period in 2023, during which Dubai welcomed approximately 15.37 million tourists. For 2024, the total number of tourists is expected to reach 19 million. Looking ahead, 2025 is set to see a significant rise, with a forecast of 25 million tourists, representing an impressive 31.6% increase.

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The Dubai Smart Rental Index Brings Limitations for Long-Term Landlords

The Dubai Smart Rental Index is an innovative tool designed to offer precise and fair long-term rental valuations for properties across Dubai in favour of tenants. The index incorporates various factors to assess properties, ensuring that the valuations are reflective of the true quality and advantages of each property. Among the criteria considered are:

• Technical and Structural Characteristics
• Location
• Available Services

Implications on Long-Term Landlords

• Restrictions on Rental Increases
• Requirement for Renovations

More on this in The Dubai Short-Let Market Report Q4 2024

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Short-Term Rental Market Q4 2024

In Q4 2024 we see a growing supply of short-term rental options, driven by factors such as increasing tourism, heightened investor confidence, the influx of management companies into the market, and the demand for flexible living solutions from both tourists and residents.

While the surge in active listings is a positive indicator for AirDXB and property owners, reflecting strong market confidence, it also presents a challenge. With more properties available for rent, the dynamics of supply and demand come into play. As supply increases, competition among rental properties intensifies, potentially leading to a decrease in rental prices.

This trend highlights the need for strategic adjustments to effectively navigate the competitive landscape. Enhancing property features, optimizing pricing models, and focusing on exceptional guest experiences will be crucial in attracting and retaining renters. By staying attuned to market dynamics and consumer preferences, AirDXB can continue to thrive and lead in Dubai's evolving short-term rental market.

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Property Finder sheds light on the evolving preferences of home seekers in the UAE, focusing on the most searched home features in 2024.

Short-term rentals were among the top 25 most searched terms on Property Finder, indicating a significant interest in flexible living arrangements. Dubai alone recorded over 22,000 searches for short-term rentals.

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For even more insights on these topics, download the full report below:

• Dubai Real Estate Market Q4 2024
• Median Prices 2024 by Property Type
• Average Apartment Prices in the Top 10 Areas
• Analysis of Dubai Property Prices Surpassing Previous Peaks
• Buyer Preferences and Trends, Including Q4 2024 Top Off-Plan Locations