Dubai Metro, which will be officially inaugurated on September 9, is expected to play a decisive role in property choice of many prospective homebuyers. Currently, an average premium of five per cent is commanded by properties closer to Metro stations. The Metro line is a huge attraction to certain communities like Jumeirah Lakes Tower and Dubai Marina. We have already witnessed that developments located in close proximity to the stations attract more buyers. Hence, these properties are more marketable reported a property management firm.
According to experts, commuters’ positive responses after trying the new Metro will help fan buyer interest and thus the prices. It is more a case of telling potential buyers that a particular development or building is near to a station.
“For example, in Executive Towers, Tower M is nearest to the Business Bay station. This has become a unique selling point. At the moment this hasn’t driven prices up in Tower M but it has made it more desirable to a potential buyer. Going forward, these properties will definitely command a premium as compared to properties, which do not have Metro connectivity. If the Metro is a success, then of course properties near to a station will fetch a premium, like in any other city.
Comments on this entry are closed.