How To Buy A Vacation Rental Property In Dubai
Renting out a property can be a lucrative way to earn money and produce passive income. In financial terms, leasing properties on the short-term rental market can be a terrific method to boost your return on investment.
There are numerous investment opportunities in Dubai, ranging from fixer-uppers to new construction, located near tourist, business, and leisure destinations. The city is one of the most popular tourist destinations in the world. So, how can you choose a property that would perform well as a holiday home rental and assure maximum rental returns?
What To Look For When Purchasing A Short-Term Rental Property?
The location heavily influences a guest’s decision-making process. It also has the most significant impact on your earnings.
Whether your vacation home caters to short-term or daily bookings, guests prefer a location closer to the downtown with easy access to public transportation. Even if your vacation property is in a tranquil setting, establishing strong transportation links will boost its appeal and price. Local attractions such as beaches and prominent tourist destinations, as well as available parking spaces, would likely entice more people to stay longer and pay more.
Other aspects that can improve the appeal of your property’s location include:
- Spectacular Views
- Nearby cafes and restaurants
- Walking distance to a supermarket
- Readily available taxis on the street
- Aesthetically pleasing surroundings
Presentation and Charm
The properties that perform best and receive the most bookings are vacation homes with a strong visual appeal. The photographs on a listing are one of the most influential variables in determining whether or not a consumer would book a property. Amazing views, lots of light, and well-styled homes can make all the difference. Working with a professional photographer is recommended to guarantee that the property is shown in the best possible light.
The amenities provided by your property may determine whether a guest chooses to stay at your facility or another. Check that the property has the following crucial amenities, as they are what your guests will be looking for:
- Air Conditioning
- Washing Machine
- Ironing board and iron
- Keys to each bedroom for guests to lock their door
Research The Locality
Investigate the market to see what homes are available in the area of the property you want to buy. What are their rates, what amenities they provide, how is the property marketed, and so on. You can get an adequate indication of what you can charge per night and determine your potential rental return by comparing your property to other listings.
What Are Some Notable Locations In Dubai?
Image Source: https://www.pexels.com/
To help make the decision easier for you, we have compiled a list of prominent Dubai districts that produce some of the most significant revenues.
When you think of Dubai, the Palm Jumeirah may be the first thing that comes to mind. The Palm Jumeirah is one of the most daring constructions in recent history, providing guests with a one-of-a-kind destination in Dubai where they can enjoy the sun, beaches, wildlife, and watersports. It’s also close to the Atlantic and the Marina, so tourists will have enough to do throughout their stay.
Downtown Dubai is unquestionably one of Dubai’s busiest neighborhoods. This location will appeal to visitors who want to take in the city’s bustle. It has a great view of the Burj Khalifa, the fountains, and the mall. With high levels of connectivity, people staying downtown can easily travel to other locations across Dubai.
City Walk Dubai
City Walk is a short distance from Jumeirah, one of Dubai’s oldest and most affluent neighborhoods. The Green Planet, the Dubai Mall, the Fountains, and the Jumeirah Fishing Harbour are all close by. Guests staying here will not be bored, as there is plenty of entertainment, restaurants, and stores to keep anybody occupied.
Finding an excellent vocational rental property may be time-consuming, but if done right, it can lead to high returns of investment, especially in a city like Dubai. By using our services at Bnbme, you can easily browse through all your options and select the property that is perfect for you. To find out more, contact our team today!