In the bustling city of Dubai, penthouses are not just a symbol of luxury and opulence but also a lucrative investment opportunity. Many owners of these high-end properties are reaping significant rental income, with some units fetching up to Dh10,000 per night.
These penthouses are listed on platforms like bnbme Holiday Homes, which has seen a steady increase in the number of such listings. According to Vinayak Mahtani, CEO of bnbme Holiday Homes, the company has a robust clientele for penthouses and has witnessed consistent demand throughout the year.
The rental rates for these penthouses vary greatly, depending largely on what the property offers. Factors such as location, furnishing, and the level of service provided play a crucial role in determining the price. Mahtani notes that their rates have been consistently increasing, indicating a healthy market for penthouse rentals in Dubai.
The company’s success in this segment is attributed to the quality of the buildings they manage and the considerable investments made by the owners in the interiors of these units. This has resulted in the penthouse segment becoming the best-performing category for bnbme Holiday Homes.
While most penthouse buyers in Dubai are end-users, there is a growing trend among millionaires to rent out these ultra-luxury units as a means to diversify and expand their income sources. This trend underscores the potential of penthouses as a profitable investment avenue in Dubai’s real estate market.
As the city continues to attract high-net-worth individuals from around the world, the demand for luxury accommodations like penthouses is expected to remain strong. This, coupled with the potential for high rental income, makes investing in Dubai’s penthouses an attractive proposition for both local and international investors.