The rise in demand for short-term rental properties is expected to pick up even more speed this year following the formal rollout of new visa policies implemented to spur further global tourist arrivals to the country.
The UAE government has announced new regulations for the holiday homes industry, including a scheme that allows homeowners to rent out their properties for up to 180 days per year at 50% below market value.
The scheme also gives homeowners tax breaks and allows them to keep their earnings from rental income.
Homeowners can now register with the Department of Tourism and Commerce Marketing (DTCM) and rent out their properties either directly or through an agency like BLVD Holiday Homes. The scheme is only available for all landlords / Investors can earn up to 50% more rent revenue by renting out houses as holiday homes says Rania Mrassi CEO of BLVD Holiday Homes: “We are very excited about this announcement because it’s going to give people a lot more choices when it comes to buying and renting out their property in Dubai.”
Rania, a Tunisian-born entrepreneur who now calls Dubai her home, has many years' experience in the holiday homes industry. She has grown her company exponentially and now heads the BLVD Properties Group which includes a real estate brokerage.
She said, “Short-term rentals are an excellent opportunity for homeowners who want to earn more money from their properties. With the growing popularity of this form of short-term leasing, more people have been renting out their homes online. The benefits of short-term leasing are many: owners get extra income, guests get cheaper accommodation and both parties get to enjoy meeting new people.”
The top three transactions were a land in Madinat Dubai Almelaheyah sold for Dhs212.6 million, followed by a land that was sold for Dhs53 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dhs212.6 million in Madinat Dubai Almelaheyah in third place.
Tower A, the Elite building of Bloom Towers, consists of 255 premium residential units ranging from one-bedroom to three- bedroom apartments with sizes from 700 to 1,600 sqft available to purchase with prices starting from Dhs750,000, offering homeowners and investors great opportunities to secure exceptional long-term value and a guaranteed 8% return on investment for three years.
The real estate bulletin showed that real estate transactions in Q1 2021 achieved a significant growth of 27 per cent and 47 per cent compared to Q1 2020 and Q1 2019, respectively.
The most important land pledges worth Dhs19 million in the Al-Manara area, followed by a pledge of Dhs13 million in Mohammed Bin Rashid gardens, followed by a Dhs12 million pledge in the first Nad Al Sheba area.
The two leading local developers have put UAE on the global map with world-class, sustainable and futuristic projects like Maryam Island and the Kalba Waterfront, which are redefining the global outlook towards urbanisation and renewal.
The flagship free zone has launched the new coins in partnership with Czech Mint as part of the 2023 gold focus. The coins will be made available for purchase after Ramadan.
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, on Tuesday