Story thread · 2 reports / 1 sources

More UAE residents are opting for monthly rentals. Here's why

thenationalnews.com · 5h · first reportShare

Demand for short-term monthly rental units in the UAE is increasing as more people decide against committing to long-term contracts amid uncertainty driven by the war. The availability of units previously offered to visitors for short stays has also gone up due to a slowdown in tourism, according to analysts. Short-term rental and hospitality sectors “experienced a noticeable slowdown” when the regional war broke out, Alec Smith, head of sales and leasing at Savills Middle East, told The National. “Flight cancellations, travel disruptions and heightened geopolitical uncertainty led to a sharp decline in tourism, with both leisure and business travel reducing almost overnight,” Mr Smith said. “As a result, many short-term operators saw bookings cancelled or postponed.” However, the market quickly evolved. Rather than being driven by tourists, demand shifted towards Dubai residents and new arrivals who had been considering buying a property or signing an annual tenancy contract. Property