Dubai Metro’s Impact on Property Prices
The introduction of a new metro line in Dubai could mean house prices in the area begin to rise, according to one expert.
Dubai-based Investment Boutique, which monitors property prices, told the Khaleej Times that areas like Jumeirah Lakes Towers and Business Bay could see prices increase by ten per cent after the Red Line is launched in September. Safeena Rangooni-Lakdawala, head of research at Investment Boutique, said: “In cases around the world where a new metro system has been introduced, we have seen a premium on properties nearby the stations.” She added that although Dubai is not a city which depends much on public transport, the areas which are close to metro links will always be more desirable and will have higher prices as a result.
More recently, pricing of the actual Metro fares has been released at surprisingly low levels, which is further good news for property located in the vicinity of Metro stations. Fares will range from a minimum of AED 1.80 to a maximum of AED 6.50 for a single journey. Prices for the more luxurious Gold Class tickets are moderately higher, with a range of AED 3.60 to AED 13, respectively. Furthermore, the fares will include travel on public road buses and water buses. This allows a passenger to continue his or her journey from the Metro to other modes of transportation without paying any additional fare. There are numerous fare options, including monthly passes, and rechargeable electronic cards.
Interested in purchasing some property near a Metro station before the trains start running in September? Give us a call at +971 600 52 2212 or visit bhomes.com
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