As Muslims plan and enjoy their celebrations for both concluding Islam’s holy month of fasting, Ramadan, and observing the Eid el-Fitr Holiday, the market for luxury rentals in Saudi Arabia witnessed major seasonal growth in demand.
With some families and individuals booking their spaces weeks ahead of time, rates for luxury accommodations shot up, nearly doubling as a result of offering limitations.
Saudi Arabia’s hot desert climate contributed significantly to driving up demands among vacationers and celebrants for furnished resort and luxury rentals, especially in Riyadh. Record high rates for early and late bookings were recorded.
Luxury properties include recreational chalets and buildings. Locally dubbed as “resthouses,” they incorporate green spaces, pools, and provide unequivocal privacy for single families.
It is worth noting, however, family accommodations remain segregated from singles in adherence to the Kingdom’s regulations.
Given low demand for recreational activities in the month of Ramadan, during which most Muslims give up leisure and devote their time to religious observance, most of these accommodations have been freshly revamped.
A multi-property owner in the Kingdom, whilst speaking to Asharq Al-Awsat, said that despite the distinctive hike in rates during Eid el-Fitr the market is flooded with visitors.
It is worth noting that rent rates in Saudi Arabia are mostly determined by landlords and property owners--with no fixed rate in place, the risk of manipulation when charging clients is high.
This contributes to seasonal fluctuations, with some places costing steeply and leaving the customer to decide whether to book or search for other forms of accommodation.
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