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the middle east has been inspiring tourists to visit for hundreds of years. the combination of rich history, incredible food, holiday properties, and varied culture naturally attracts those looking for adventure.
the middle east tourism market is expected to be valued at us$ 400.71 billion by 2032.
The Middle East is expected to emerge as one of the world’s most competitive landscapes offering value tourism and conference experiences to a worldwide customer base. The MENA region never failed to show resilience in hotel performance indicators when compared to the rest of the world. For example, Dubai is one of the cities in the Middle East that are extremely open to inviting tourists from all over the world. Summer in Dubai is not expensive; in fact, summer season is the lowest due to extreme weather conditions.
The holiday homes and tourist apartments are rising to be the most preferred option for travelers who look for the comfort of a home outside of their own. That is especially true after the pandemic has started in 2019, when the need of properly sanitized areas, social distancing, and bigger living areas has risen. It is no surprise that many people are now opting to rent out short-term homes rather than staying in hotel rooms. With short-term homes, guests can minimize interactions with people, stay in a larger space at competitive prices, and get access to amenities such as stovetops, full-sized fridges, and even private pools.
Middle East residential investors are keener to purchase holiday homes than their global counterparts, according to the 2021 Knight Frank Global Buyer Survey.
if you're contemplating the idea of turning your property into a holiday home, read along to find out the benefits of such an investment.
- You will have unlimited access to the property, and you can visit it whenever you want. It’s a private safe place for your family and friends.
- Holiday home owners find themselves on holiday alongside like-minded people who also have holiday homes in the same location.
- Financially, if you choose to make the most of the property, you can rent it out without any hassles and enjoy the additional ROI it brings.
- Owning a holiday home can be financially rewarding. You can rent it and cover all your property’s expenses.
- The property may increase in value.
- The amount you can earn depends on the type of property you have and its location.
- The markets are expanding and demand from buyers is increasing significantly. This means that the land and home prices of your holiday home are expected to rise quicker than property investments in more developed cities.
- Instead of abandoning a barely used property that you own, you can actually keep it maintained, clean, and fully functional, if used as a holiday home.
If you’re worried about the management of your holiday home, and think that following-up on reservations, bookings, maintenance, and check-ins could be time-consuming for you, always remember that there are great property managers who could do the job from A to Z, with cost-effective plans.
Managing holiday homes is not a simple task. Most often property managers tend to make use of a property management system that will help them ease out the process. But how can someone choose the best PMS for their business?
