Property investors have managed to make great premium on their property and are now considering putting the properties in the market to support the tourism boom which is about to hit the UAE by 2010 where Dubai will have the tallest skyscraper in the world, the largest manmade island on earth, by far bigger than Manhattan and the largest shopping malls in the globe.
Government figures show Dubai now has 7 million overnight guests per year and should achieve 15 million tourists per year by around 2015. Tourist from the United Kingdom and Germany prefer to stay in a Villa or an apartment.
If you are a Dubai home owners you notice that Jumeirah beach residence and Nakheel have started handing over thousands of apartments beach facing to land lords who have waited for this day hoping to start using their holiday home for their families and visitors and their retirement while they can drive income from their investment while they are away by short term furnished rentals Jumeirah beach residence a part of Dubai Properties Has announced on their web site that Minimum rental period furnished allowed is 6 month Homeowners and real estate agencies have not been aware of this policy The developer had no restrictions on how long a homeowner could let the unit for .
To Support the growth of tourism DTCM have initialed the process of licensing the Holiday Rental Companies Classifying and regulating holiday lets under hotel licenses, A as many short tern holiday rentals company in Dubai have acquired a large numbers of properties and they also have maximized on their marketing and sales targeting hi returns for their land lord and as long term rental rentals currently gives 7-8 % on their returns while short term rentals makes 13 - 15 % which landlords find as a good option to do on their property Individual home owners have bought properties in Dubai focusing on using it while visiting Dubai and renting it on short term while they are a way.
Short term letting have been most in demand by the corporate market as most of the executive who come to Dubai Can hardly find a hotel room as Dubai has the highest occupancy of room in the world which makes it hard to find the accommodation at the right area!
The holiday letting is becoming very popular by European families who wish to be in Dubai in their holiday having more privacy then a hotel, holiday apartments near beach are the most in demand for holiday makers as they have the privileges of all hotel amenities and services ant half prices on of that they get free airport transfer more privacy and much more privacy and a comfort which are 50% cheaper then Dubai Hotels and Hotel apartments.