Unique Properties, one of Dubai’s leading real estate agencies, has observed strong demand for short-term rentals in the UAE. There are 10,000 active rental listings in Dubai and their occupancy rates rose by 32% from December 2020 to December 2021; average daily rates have grown between 15% – 28% and monthly rates are rising to 94%.

While the short-term rental market has long been booming globally, it has just started to grow in the UAE as holiday homes only became legal in 2016. Expo 2020 was a key contributor to the growth of Dubai’s short-term rental market as international visitors could bypass long-term contract commitments, retain their freedom of mobility, and save costs during the exhibition.

The UAE’s recent announcement of masks no longer being required has further restored a sense of normality. Though the country’s handling of the pandemic has already seen a strong influx of visitors throughout COVID-19, more travelers are poised to visit Dubai in the coming months and contribute to the growth of the city’s short-term rental market.

With the 2022 Qatar World Cup (QWC) quickly approaching, attendees from across the globe will look to Dubai as a preferred destination to situate themselves before, during, and even after the event. The emirates’ proximity and easy access to Qatar, coupled with the fact that rents have risen 30% in Qatar compared to a year ago, will see Dubai benefit considerably.

Arash Jalili, Founder and Chief Executive Officer of Unique Properties, UAE HQ, says: “The growth of Dubai’s short-term rental market is far from over. Dubai still trails major markets like London which has double the number of vacant rental listings but the uptick in remote and work-from-home models, along with the fact that Dubai is one of the top five most visited cities in the world, will continue to see the city’s short-term rental market flourish.”

Unique Properties has become one of the most trusted real estate players in the UAE through its extensive market knowledge. The full-service award-winning real estate agency facilitates countless transactions across Dubai including residential off-plan and resale property sales, commercial, and rentals.