Miami & Boston are the most expensive Airbnb cities in the world

Wednesday, July 25, 2018

Sunbathing in Tel Aviv or hitting Dubai’s wonderful shopping malls will set you back a bit more lately. A blend of posh hotels and apartment costs and powerful tourism has made Airbnb rates in Middle Eastern cities among the worlds priciest.

 
As per recent Bloomberg index, Miami and Boston occupied the top two spots in the average daily cost of lodging in private dwellings for the second year successively. Airbnb owners asked for $205 a night and $195 a night, respectively, in the two cities.

Nevertheless, the Middle East has been rising in the annual index and in 2018 has five destinations among the top 15 priciest global cities: Tel Aviv and Dubai at Nos. 4 and 5, and Jerusalem, Riyadh and Kuwait City also near the top.

 
Expensive short-term rentals in Dubai averaging $185 every night in Bloomberg’s index, probably are a function of high hotel rates in the Emirati city, where over 70 percent of hotel rooms are four-star or above, said Ivana Gazivoda Vucinic of the international real estate firm Chestertons. In two years that ended in August 2017, Dubai’s supply of Airbnb units have doubled to 3,249 units, following a relaxing of government regulations, according to Vucinic’s research on Dubai’s short-term rental market.

 
To perk up its tourism sector, Dubai has spent billions and expects to lure 20 million visitors to the city by 2020, increased from 15.8 million visitors in 2017, according to figures from Dubai’s Department of Tourism and Commerce Marketing.

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