As New Year’s Eve approaches, landlords and agents tout luxury two-bedroom apartments with Burj Khalifa views, fetching rates between Dhs 12,000 and Dhs 37,000 per night.
The exclusive penthouses list is even higher, reaching Dh70,000 to Dh80,000 for a single night on platforms like Booking.com.
Competitive Rental Rates and Soaring Demand:
Platforms such as Dubizzle and Airbnb reflect significant interest in New Year’s Eve bookings, with most properties already snapped up.
Vinayak Mahtani from name Holiday Homes observes a 20-30% surge in Downtown prices, with a four-bedroom penthouse commanding Dh37,000, including a housekeeper and chef, for a three-night stay.
Premium Bookings and Short-Term Rental Hikes:
Mostafa Hammad, from Drehomes Real Estate, highlights the scarcity of Downtown spaces and escalating prices, citing up to Dh160,000 per month for a four-bedroom apartment.
Daily rentals near or surpassing Dh12,000 indicate a 20-30% hike compared to prior years, with listings vanishing quickly due to high demand.
Exclusive Offerings and Surging Property Sizes:
Offerings range from studios to expansive penthouses, providing amenities like high-speed internet, premium access to fireworks displays, and butler services.
Aneela Bibi, Chestertons MENA, notes an exponential spike in rental prices, with properties in Downtown Dubai fetching up to four times their usual rates on New Year’s Eve, marking a 37% increase in property listings over three years.
As demand outpaces availability, prime areas like Downtown Dubai witness a scarcity, prompting rental rates to soar, showcasing the allure of securing premium spaces for the iconic New Year’s Eve celebrations.
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