Dubai is renowned for going above and beyond, and the same is true for the skyscraper-packed Dubai Marina. This waterfront neighborhood is a remarkable leisure and residential hotspot. At the heart of the community is a palm-littered walkway of around 4.3 miles, and it’s lined with restaurants, shops, entertainment venues, hotels, and residential blocks, which makes it an ideal destination for property owners to capitalize on Dubai’s thriving tourist economy.
Background
Dubai Marina has been around since 2003, and it’s become one of the best neighborhoods. The man-made marina stretches for over 50 million square feet and sits right on the seafront. Packed into this luxury neighborhood, you’ll find a selection of buildings tickling the clouds.
Attractions
Dubai is known for its grandeur, especially when it comes to attractions. In Dubai Marina, there’s no shortage of activities to attract tenants. For instance, the world’s longest city zipline takes thrill-seekers from a JBR Amwaj tower all the way across Marina Mall.
Unique Properties
Dubai Marina has it all when it comes to properties. You will find everything from duplexes and villas to fully furnished luxury apartments. There are even plenty of properties suitable for families or singles, including four-bed apartments and studios.
Excellent Location
Dubai Knowledge Village, Dubai Internet City, and Dubai Media City are all close to this neighborhood, making it the ideal spot for expats to settle down in search of a better lifestyle.
Transport Links
Dubai is very well connected, with public transport services ready to take tenants to nearby attractions like the Burj Khalifa. However, what makes Dubai Marina unique is the water bus, which serves areas around the marina.
Food and Drink
Spread throughout the many skyscrapers, there’s an assortment of restaurants, bars, and other entertainment venues, which only adds to the allure of Dubai Marina. For dining with stunning views of The Arabian Gulf, this is the neighborhood to be.
The Benefits of Property Management in Dubai Marina
The team here at UpperKey has extensive Dubai property management knowledge, and we have a proven track record of increasing revenue. As interest in Dubai Marina continues to ramp up, allow us to become your greatest asset.
Maximizing Your ROI
Dubai Marina’s offering of luxury and class allows it to attract tenants looking for only the best properties. By letting UpperKey manage your property, you’re saying yes to opening the door to these clients. We know how to set the rent to ensure you get the best return and tenants are getting a fair price.
Which area in Dubai is best for rental income?
Dubai has many areas that present unique opportunities for landlords, but Dubai Marina is without a doubt one of the best. The neighborhood typically attracts couples and singles. This is likely thanks to its free-spirited approach to life and cosmopolitan nature. With plenty of restaurants, shops, and entertainment venues, there’s enough action to satisfy anyone’s desire for luxury living.
Why is Dubai Marina so expensive?
Statistics indicate a significant rise in property sales during 2022, with a 23% increase. In total, there was a staggering Dh21.5 billion invested in Dubai Marina, which is close to USD 6 million. Following the rapid increase of interest from local and foreign property investors, the average price in the area has shot up by around 10%, but the rent yield is about 6% (161% for short-term rentals).
Why invest in Dubai Marina?
The main reason to invest in Dubai Marina, and why it’s attracting an increase in property investment is its prime location and excellent connectivity to the rest of Dubai. Aside from the practical reasons, Dubai Marina will bring in the highest return from owning an Airbnb.
How to own Airbnb in Dubai?
The team here at UpperKey has extensive Dubai property management knowledge, but our true specialty is Airbnb property management, which is why we can tell you how Dubai property owners can be the best possible Airbnb host. However, we’ll start from the bottom by letting you know how to own Airbnb in Dubai.
Dubai’s regulations for Airbnb hosts are complex and intricate, so you’ll need to understand how to register a business and which licenses you’ll need. The first step is registering your business, which can be done online via the Dubai Department of Economic Development (DED) website. Additionally, you’ll need to get your hands on various licenses from the Dubai Tourism and Commerce Marketing (DTCM) department. The license you require will depend on the type of property you own.
Before getting accepted for a license, make sure your property meets the DTCM quality and safety standards.
How much can I make Airbnb Dubai?
Airbnb income varies depending on the area, but our stats indicate that Dubai Marina provides the best returns. The average price for a night in Dubai Marina is Dh702 and the occupancy rate for a 1-bedroom Airbnb is 67%, which equates to a yield of 16.1% and a total revenue of Dh8,704.
What are the tax fees for Airbnb in Dubai?
All hosts in Dubai must collect the Dirham tourism fee from every guest, which is then sent to the DTCM. Again, the required fee largely depends on the property and length of stay, but it should be collected for 30 days maximum.
How to run an Airbnb business in Dubai?
Being an Airbnb host is a full-time commitment that comes with professional responsibilities and a clear understanding of navigating the legal landscape of property management in Dubai. There’s keeping up with maintenance, cleaning, and finding ways to improve. Further, you have to vet and liaise with tenants respectfully to make sure they leave outstanding reviews.
Work with UpperKey to Maximize Your Dubai Creek Property
Dubai Marina is a sought-after destination for property owners, especially Airbnb hosts looking to get the highest return on investment. Whether you’re looking to invest in Dubai Marina property or you’re already tackling the stressful life of being a luxury property owner, start a conversation with UpperKey today to maximize your property’s potential.
