Dubai is now the world’s third-most expensive Airbnb city
Hotel prices drop below Airbnb market, as short-stay apartment prices rise
Dubai is now the third-most expensive city in the world for Airbnb stays, and hotel stays are now cheaper than renting an apartment.
Following a seven percent increase year-on-year, Dubai is just behind Miami and Icelandic capital Reykjavik, according to the Bloomberg World Airbnb Cost Index, which analyses the nightly cost of two people staying in more than 100 cities worldwide. Reykjavik might seem an odd second place, but with TV series Game of Thrones(click here for a discount) regularly shooting scenes in the country, tourism packages have boomed in recent years.
While cost per night average sits at US$180 (Dhs661) on Airbnb, the same piece of research saw hotel room rates across the city drop by more than a quarter year-on-year, down to US$175 (Dhs643). It is believed to be the first time Airbnb rates in the city have overtaken the cost of hotel.
Whether or not the assumption is correct, many people consider Airbnb a more affordable alternative to staying in a hotel, but as hotels across Dubai drop prices for summer, now might be the right time to bag a bargain deal.