Tourism Again Propping Up Dubai Real Estate

Dubai property has become one of the most demanded cities in the world today with some of the best tourism facilities as well as a shopping heaven for the lovers of shopping with its duty-free nature. The business has also thrived in the city due to the duty-free nature of the city and as a result a huge number of people from other parts of the world have come to settle here in Dubai. The property prices have also risen due to this large influx of expats and the property rent in Dubai has increased manifolds during the past few years.

Dubai is one of those places that can never be counted out as a property market because it has always survived through every thick and thin of the time. The bad patch that had hit the real estate sector all over the world some four years ago had hurt Dubai property prices as well and the realty sector in the city that was thriving till then had to face this blow. However, it is one of the first markets that showed the signs of recovery in 2011 and now the property prices are increasing with every day passing. The major stake holders in Dubai like Emaar properties and Nakheel have stated that their revenues have increased by billions and this clearly indicates that the Dubai city has finally gone through its worst patch.

The business and tourism industry has by and large recovered from that worst slump as well and as a result the outsiders have again started to come here for seeking jobs. These job-seekers and employees normally seek villas or apartments for rent in Dubai to live in an affordable and comfortable place. While at the same time the beautiful natural locations and the man-made wonders like Burj Khalifa and The Palm Jumeirah Islands have begun to attract the people from showbiz as well and every year Dubai hosts numerous film fares and award ceremonies.

All these have crystallized to make Dubai one of the most desired locations in the world and as a result the property market has again started to take advantage as it took during the first decade of the century. The tourism industry had flourished in the Dubai city because of the projects like Burj al Arab and Virgin Islands that attracted tourists from all parts of the world and consequently the real estate prices multiplied within a few years and apparently it seems that the Dubai real estate will be the ultimate gainer this time as well.