The growth of Holiday Homes as a sub-sector of real estate has been immense in the past few years. A holiday home is a vicinity that vacationers can rent and run as if it were their own home for the duration of their stay. There is also the apparent option of booking a hotel, but the hotels are quite expensive in return for the services they provide. Additionally, people have been choosing holiday homes over hotels because they feel more like home and finding a home away from home can be seemingly difficult.
Since the option of allowing private homeowners to apply for a holiday home permit and start leasing their properties was introduced, the sector has seen significant growth. Dubai is one of the most visited cities in the world, and this is why you can anticipate high profits from this endeavour.
According to a report from HiGuests Vacation Homes, holiday homes are gaining popularity even in response to market corrections. Moreover, visitation to the UAE continues to boost due to the upcoming EXPO2020. The event, in its true nature, intends to leave a legendary mark as a tourist spot within the city. The guest profile from the report indicates that tourists are more ‘pocket-conscious,’ meaning that they would prefer a reasonable holiday home rental rather than a hotel.
You can make the most out of the “buzz” around holiday homes if you are an owner of one in the city even if you own a share of a property from this ambitious sub-sector of real-estate. Owning a share of a property is, of course, much more affordable than owning the whole property. SmartCrowd intends to increase the accessibility of all facets of the sector, to all. It might just be a decent revenue-generating area during vacation time and in the prime of the EXPO2020!
We have a few insights from our Investment Director with regards to this emerging sector, make sure you check out our next blog!
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