A room with a view of Burj Khalifa fireworks for New Year, anyone?

Dubai - Per night rates for apartments offering the view start from Dh700.

Property owners and real estate dealers are renting out one and two bedroom apartments 'with a majestic view of the Burj Khalifa fireworks' for as low as Dh700.

Classifieds websites like Dubizzle and short-term lodging mobile applications like Airbnb are buzzing with interest from New Year's Eve revelers.

In some cases, luxury apartments in the Downtown area are going for Dh2,459 per night.

According to interested residents, booking an apartment is much cheaper than paying thousands of dirhams for table bookings at hotels and restaurants in party hotspots across the emirate.

However, according to the Department of Economic Development - Dubai, short-term rental of apartments is illegal without a licence. Those renting out apartments without a licence from the Dubai Tourism and Commerce Marketing (DTCM) can face fines of up to Dh5,000.

Party all week, at a cost

Short-term rental website keysplease.ae, a licensed holiday home rental company, has a wide array of apartments that are up for rent in the Dubai Downtown and Marina areas. However, residents made bookings for these apartments as early as September. An employee at the website said: "The only available bookings now are at hotels and hotel apartments ... Those wishing to book homes will have to book for a minimum of seven nights."

The available studio apartments cost Dh1,000 per night, amounting to Dh7,000 if you're planning to party all week.

Private owners of apartments in the Downtown area and Business Bay have put up ads in Airbnb for Dh2,500 per night.

The apartments boast an excellent view of the Burj Khalifa and can have a maximum occupancy of only four people.

One advertiser has put out an entire villa near the Palm Jumeirah on rent for a whooping Dh40,000 per night, all inclusive of services from a housemaid and a chauffeur-driven Nissan Armada.

Hotspots include the Dubai Downtown area, Dubai Marina, JBR, JLT, Palm Jumeirah and buildings surrounding The Dubai Mall.