Dubai Becomes the 5th Most Expensive City in the World for Airbnb Listings

According to the latest Bloomberg global index, Dubai has become the 5th most expensive city in the world for Airbnb listings. Bloomberg global index considered Airbnb listings in more than 120 cities around the world.

US cities Miami and Boston ranked 1st and 2nd simultaneously for the second straight year. City of Reykjavik, Iceland stood at 3rd spot and Tel Aviv, Israel is on 4th position.

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According to the index New York owners asked for average $205 per night and in Boston the price is $195 for a night. In Reykjavik owners are demanding $194. That is only $1 short to Boston owners. Tel Aviv property owners on average demanding $188 for a night. Dubai’s short term rental average price is $185 per night.

Bloomberg index also reveals that due to 70% of hotel rooms in Dubai are four-stars or above. That is the one reason of high averaged short-term rental room prices in Dubai.

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This is amazing that after a relaxation of government regulations, Airbnb units has been more than doubled in Dubai by reaching to 3,249 units. In 2016, Airbnb also signed a MoU with Dubai Tourism department (DTCM) to encourage responsible hosting within Dubai as well as promote tourism.

Hadi Moussa, Airbnb’s General Manager for Middle East and Africa, said: “Initially, it started slowly in the Middle East but we have seen an acceleration since we signed a MoU with DTCM which has helped grow the number of listings, especially in Dubai,

He added: “I think the MoU with DTCM setting clear regulations is a great starting point. Because, it creates a certainty for the host to know that one, it’s legal, and they have clear and simple rules on what they actually need to do to become a host on Airbnb – that’s why we are also seeing the growth in Dubai. Currently, we have 6,700 properties across the UAE. So creating that level of regulatory certainty – that’s very important for us”.

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By revealing company’s future growth plan, Hadi Moussa said that Airbnb has its eyes set on growth within the region such as plans to capitalise on the 25 million plus visitors expected to visit Dubai for the Expo 2020 and trying to establish a strong foothold in Saudi Arabia.