Dubai Metro to 'up' market value of close-by properties
Dubai Metro to 'up' market value of close-by properties

A vital role will be played by Dubai Metro, which will be officially inaugurated on September 9, in property choice of many prospective homebuyers. As of now, properties closer to Metro stations ask for an average premium of five per cent.

It is obviously clear that certain communities like Jumeirah Lakes Tower and Dubai Marina will benefit from the Metro line. In recent times, it was seen that developments which were situated close to the stations lured more buyers. So, it won't be wrong to say that these properties are more marketable, reported a property management firm.

The experts hold the viewpoint that commuters' encouraging responses, subsequent to trying the new Metro, will help fan buyer interest and thus the prices. They describe it as a case of explaining prominent buyers that a particular development or building is near to a station.

One of the experts said: "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."