The commercial real estate market is growing in Park City, especially the hotel sector. During the skiing season, the demand for hotels and resorts increases. Many new hotels and resorts are being constructed recently.
The steering is on the supplier’s hand, as a result price of these commercial spaces are not dropping. Actually the growth in the hotel sector started before the Winter Olympic that was held in 2012. With so many people rushing in from different parts of the world, the hotel sector had experienced tremendous growth unlike the previous years.
There were the participants and spectators trying to find a place to stay in order to enjoy the huge event. There wasn’t a single hotel or resort left that was unoccupied. The Winter Olympic, in fact, boosted the whole tourism of Park City which is why this sector still continues to grow today.
The growth of the office sector is also worth noticing. New offices are being constructed with all modern facilities. People continue to rent these places even though the rate is high. The retail sector has also seen enormous growth, especially because of the Winter Olympic.
Many shops have started doing business and so have rented space even at a higher rate. People are finding apartments a better choice than single houses. So, renting spaces for apartments are also high on demand. Apartments provide all the modern facilities including state-of-the-art technology for security systems such as CCTVs and intercom; latest fittings on bathroom, mostly fully furnished and other features that will pamper the customers.