To determine how much money you can make by renting your apartment on Airbnb in Dubai in 2024, it's essential to consider several factors:
- Location: The neighborhood and proximity to popular attractions can significantly impact rental prices.
- Property Type and Size: Larger or more luxurious properties generally command higher rental rates.
- Seasonal Demand: Dubai experiences fluctuations in tourism throughout the year, and rental rates may vary based on peak and off-peak seasons.
- Local Events and Festivals: Events, conferences, or festivals can influence demand for short-term rentals.
- Competition: The number of similar listings in your area can affect your property's visibility and pricing strategy.
- Amenities and Quality of the Property: Well-furnished and amenity-rich properties may attract more guests and allow for higher rental rates.
- Regulations and Fees: Keep in mind any local regulations or taxes imposed on short-term rentals, as they can impact your overall earnings.
To get an accurate estimate for 2024 the first step could be looking at the pricing of similar listings in your area and using it as a base for your calculations. It's important to take into account the seasonality of airbnb in Dubai - high season is from November to March when your occupancy can be as high as 95%, however this might drop to 50% or less in the hot summer months.
In order to get a more precise calculation of how much your Dubai apartment can make on average on airbnb - fill out our "Free Estimate" form and get in touch with us!
