Media ININ Economy We Trust
Media In Dubai – 13th February 2019
The Middle East and North Africa (MENA), the world’s largest real estate company, has unveiled its latest report on the growth of Airbnb’s revenues in Dubai.
The data for 2018 showed an increase of 69% over the previous year to $ 101,230,708.
As of December 2018, the number of properties on the BNP platform rose by 26 per cent to 5,,009 units compared to 3,987 units in 2017 and an increase of 81 per cent over 2016 when 2,775 units were listed. The report includes all units listed in accordance with current legislation.
The report also shows that the increase in demand for available real estate units contributed to the increase in revenues. The occupancy rate reached 65% during the peak period in Dubai in March 2018 compared with 50% during the same period of 2017. In the period from June to August 2018, which is usually experiencing a decline in demand, the average occupancy was 49%, slightly higher than the same period in 2017 when it reached 40%.
“Given the unprecedented increase in the number of real estate units listed in the past nine years, from just two in 2010 to 5,009 by December 2018, the company’s revenues have increased,” said Ivana Gazivoda Vucinic, Director of Consultancy and Research at Chestertrans Middle East and North Africa. “Air BNP” significantly in the Dubai market to reach more than 101 million US dollars at the end of last year.
“There are a number of key factors contributing to the growing demand for real estate on the Internet, perhaps the most dynamic and dynamic character of Dubai as a global tourist destination, where travelers are increasingly looking for reliable personal holiday experiences, provided by Air BNP “Through interaction with them and at competitive prices.
In this report, which focuses on the residential real estate market in Dubai, the Middle East and North Africa (MENA) Middle East and North Africa region highlighted that the one bedroom unit was more likely to be reformed over the last 12 months, Real Estate to use the Air BNP platform as an attractive alternative to long-term leasing.
With respect to rental income, real estate owners listed on the BNP platform often face an investment return of 2% to 4% of Dubai’s long-term rental income.
To help owners manage their short-term rents, many tools have been added to the AirPnP platform, including a revenue management tool that adjusts prices to adapt to major seasons and dates, and also competes with similar listed properties, increasing profits further .
The report identified a number of vital areas in Dubai such as Downtown Dubai, Palm Jumeirah, Dubai Marina, Dubai Media City 2 and Al Barsha as the fastest growing area of demand for holiday rentals at a daily rental rate of US $ 241, US $ 359, US $ 218, $ 188, respectively.
