Hotels - The best performers in Dubai Real Estate

Market data shows that the hotels are the best performers in Dubai Real Estate . Tourists from countries all over the world are arriving in Dubai hotels, which are increasing the occupancy rate and revenue per available room. The situation for the residential sector is not the same though. The general outlook of Dubai residential properties is mixed as the market has bottomed out. Apartments are the worst performers as their sale and rental prices have remained unpredictable. However, from last quarter their prices have also seen a little stability. Dubai Villas and other high value properties have been performing well and their rental and sale prices have been stable from quite some time now. rnIncreasing demand of HotelsrnHotels on the other hand, are doing quite well as the number of tourists are increasing at a rapid speed, which is clearly the signs of prosperity. Right now Dubai government considers hotels as the major factor which has also helped residential properties to stabilize. According to analysts, the reason of popularity of Dubai hotels is due to the luxury they offer. Another reason is the global upheaval from which Dubai is totally saved. According to airline resources, many tourists have rescheduled their holidays to Dubai due to the same reason. Revenue of $119 per available room has been recorded in the month of August, while in Europe it is $93, in Asia Pacific $92 and in America it is a mere $64. These records show the high demand of Dubai hotels. Jumeirah group has also reported that they have been receiving many tourists these days. According to the officials of some of the hotels, their rooms remain occupied these days as tourists have started pouring in to a life of luxury and freedom in Dubai. In the current year, China has also remained a major contributor. According to resources, now Dubai properties and hotel officials have also taken steps to further enhance their services to attract Chinese tourists and investors. Demand of Property MarketrnDubai real estate officials are of the view that Dubai is seeing a constant decline in rental and sales prices and the market is becoming more tenant-friendly. The main reason behind the fall in prices is the economic downturn in the US and Europe. Most of the offices and corporate buildings are occupied by the US and Europe based companies. Now they give careful forethought and delay the leasing decisions. However, the Arab Spring has helped Dubai Properties to get a boost in its prices. Currently the rental and sale prices of Dubai Villas, hotels and other residential and retail market are moving towards recovery stage. But the question remains that how long this impact would last? The impact would not last long if the economical and financial conditions of the West do not improve. Real estate experts and economy analysts are of the view that more sustainable recovery is required to turn this impact into broader economic activity. They are still pessimistic about any chance of Dubai recovering in near future and are of the view that the market will take time to fully recover.