To compare the varying costs across the globe, Bloomberg has released its annual index of Airbnb rental costs, and we aren’t surprised Sydney made the top 10.
The fact that we manage to live in a overly-priced shoebox apartment in Sydney, still surprises us every day.
Rafael Nadal married his childhood sweetheart of 14 years, Xisca Perello, at a castle in Mallorca on Saturday. Nadal,…3145 | the publication reaches you by | Kuwait Online
Sydney came in tenth place, with an average night setting travellers back $175 USD.
Seven of the top 20 were US cities, with Miami topping the list at $205 a night, followed by Boston in second at $195, for the second straight year.
Los Angeles, New York, San Francisco, Seattle, and Washington DC also made the top 20.
More surprisingly, it appears sunbathing in Tel Aviv or shopping in Dubai is becoming increasingly popular, as Airbnb rates in some Middle Eastern countries appear to have sky-rocketed.
Five of the most expensive cities for Airbnb rentals were located in the Middle-East, with Jerusalem and Dubai in fourth and fifth spot respectively, and Jerusalem, Riyadh, and Kuwait City also near the top.
As per Bloomberg, Ivana Gazivoda Vucinic of the international real estate firm Chestertons, said Dubai’s expensive short-term rentals, averaging at $185 a night, are most likely due to high hotel rates since more than 70 per cent of the city’s hotels are four-star and above.
After pumping billions into its tourism sector, Dubai hopes to reach 20 million visitors by 2020, placing it among the top five most visited cities globally, according to market research firm Euromonitor.
In Tel Aviv and Jerusalem, pricey short-term rental costs reflect the average cost of living, similarly in Sydney.
The top 20 most expensive rentals (USD)
- Miami, Florida, USA ($205)
- Boston, Massachusetts, USA ($195)
- Reykjavik, Iceland ($194)
- Tel Aviv, Israel ($188)
- Dubai, UAE ($185)
- Los Angeles, California, USA ($180)
- Amsterdam, Netherlands ($178)
- San Francisco, California, USA ($178)
- Jerusalem, Israel ($175)
- Sydney, Australia ($175)
- Riyadh, Saudi Arabia ($171)
- Edinburgh, Scotland ($166)
- New York City, USA ($159)
- Seattle, Washington, USA ($156)
- Kuwait City, Kuwait ($155)
- London, UK ($154)
- Singapore ($154)
- Washington, DC, USA ($153)
- Dublin, Ireland ($152)
- Barcelona, Spain ($151)
The Bloomberg index considered Airbnb listings in more than 120 global cities.
Bloomberg’s figures differ from Airbnb’s internal figures as Bloomberg looks at all advertised rates on site, while Airbnb only factors in rentals that are already booked.
Against the backdrop of the unprecedented conditions brought on by the COVID-19 pandemic, Boursa Kuwait saw a net profit…498 | the publication reaches you by | Kuwait Online