Dubai property prices 'could grow with Metro use'

10/09/2009 - Dubai Property News
Dubai property prices 'could grow with Metro use'

Written by Bob Brunskill

The premiums to be associated with properties in Dubai that are close to the new Metro facilities could grow along with how the system is used, one expert has advised.

Following the results of a recent survey that outlined how homes near to stations are set to be more in demand, a spokesman for Landmark Advisory told Emirates Business figures were "difficult to quantify" at this time.

However, director of research at the firm Jesse Downs did admit that should the new public transport option be a success, this could have a very positive effect on values in the region.

"Once we're able to assess Metro usage this will translate into residential premiums. Personally I could imagine an average sale premium of five to ten per cent developing in the first one to two years of […] operation," he explained.

Saeed Ahmed Saeed, chief executive of Limitless - the group behind the original study - added the system would address congestion in Dubai and could boost the local economy by improving the health of residents as well as the environment.