According to the list, Miami and Boston take the top two spots for average daily cost of lodging in private dwellings — the second year in a row for those cities.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…519 Views | the publication reaches you by | Saudi Arabia Today
The Middle East, however, has been climbing in the annual index due to a combination of high hotel and apartment costs and growing tourism sectors, and this year has five cities among the top 20 priciest global cities: Tel Aviv and Dubai come in at 4th and 5th, while Jerusalem (9th), Riyadh (11th) and Kuwait City (15th) also feature.
Dubai’s short-term rental offerings cost an average of $185 a night, and the city’s supply of Airbnb units more than doubled to 3,249 units in the two years ended August 2017.
It follows a relaxing of government regulations, according to research on Dubai’s short-term rental market carried out by Ivana Gazivoda Vucinic of the international real estate firm Chestertons.
Several cities, including New York, have imposed restrictions on the short-term rental market citing rising housing costs as a reason. drives up housing costs.
Airbnb spokesman Nick Papas refutes the claim: “It’s no surprise to see the hotel industry paying for misleading reports about our community,” Papas told Bloomberg. “The data shows that these claims simply don’t hold water.”
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