Dubai Metro drives up local property values

02/04/2012 - Dubai Property News Posted by Neil King
Dubai Metro drives up local property values
Those hunting for opportunities for property investment in Dubai may want to look at apartments and other developments near to new tram stations and lines, as it has been revealed proximity to the Metro has a positive impact on house values.According to a joint study by the Roads and Transport Authority's Strategic Planning Department and Dubai Real Estate Regulatory Agency, dwellings that are close to these travel hubs have gone up in price by more than one-third (34 per cent) since 2009.Rental rates near operational stations in the Bur Dubai area of the metropolis and Al Barsha have already seen increases of ten per cent, according to Asteco, which noted that when the new Green Line goes live, there could be another home appreciation surge.It seems more of those on the lookout for aparements in Dubai are commuters favouring good transport links.The trend for property in the UAE close to tram stations going up may be reflected in Abu Dhabi, as Gulf News revealed last week the city will soon get its own light rail network.