Every year, scores of people gather in the UAE to explore the quintessential developments in the country. One standout trend is the surge in short-term rentals, as more people seek a leisure-some vacation home with the right property management services, with experts calling the country synonymous with luxury. With the rising demand from customers and properties ensuring everything is in place, the UAE continues to see a massive surge in this sector.
Shilpa Mahtani Co-Founder of bnbme Holiday Homes, highlighted that the overall outlook for this year, 2024, has been incredibly positive, driven by a strong influx of visitors and growing investor interest in Dubai’s thriving market.
“With 14.96 million overnight visitors as of October 2024, surpassing last year’s figures, the demand for short-term rentals has been robust,” Shilpa remarked.
Additionally, increased real estate activity and investor confidence have further boosted the industry, making it an attractive option for property owners: “The sentiment across the region remains optimistic, with high expectations for continued growth as Dubai solidifies its position as a global hub for tourism and real estate.”
However, Mahtani also noted a few challenges she would expect in 2025: “One key challenge will be the influx of companies promising unrealistic returns and low management fees, often failing to deliver and damaging the industry’s reputation.”
Rising long-term rental rates are making short-term rentals more competitive for investors. “Requiring us to highlight the unique advantages of flexibility and potential returns,” she noted.
Shilpa believes AI has played a pivotal role in streamlining business operations in this field. “From automating finance processes and optimizing pricing to enhancing guest feedback and HR management, AI has improved efficiency across all areas. This has allowed us to focus on delivering exceptional guest experiences while maintaining operational excellence,” she concluded.
