Dubai: Visitors to Dubai searching for accommodation via Airbnb better be prepared — the city has the “most expensive monthly average Airbnb cost at $15,892”, according to a survey of costs across global cities. In comparison, Kuala Lumpur had the most affordable monthly average Airbnb of $1,664, says findings by Nested, a London based online estate agent.

The research also shows that a property in Dubai would take 187 months to recuperate value via traditional rental methods, and 46 months via Airbnb, placing it ninth worldwide on this count (Dubai currently has more than 4,000 homes defined as being holiday homes). This compares to Lagos, Nigeria where it takes the least amount of time to recuperate property value via traditional renting at 132 months, and Taipei, where the property needs to be rented for 693 months for a payback.

Properties in Durban take the least amount of time to recuperate their value via an Airbnb rental, at 18 months on average. Properties in Beijing take the most amount of time on this count, at 714 months on average.

“The rise of Airbnb is making it harder for renters to find properties as more landlords are preferring to rent to short term renters who pay a premium,” said Matt Robinson, CEO of Nested. “But this is a great opportunity for those who have managed to fight their way onto the property ladder to make the most out of their property.”

Source: Gulfnews