Dubai realty witnesses demand for units near Metro network

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As per the latest reports and studies, there is sizable and higher demand for housing units in Dubai which are located in proximity to the Metro network. Residential units which are situated within just 5 minutes’ walking distance from the Dubai Metro are witnessing considerable demand from homebuyers as per reports. Between the first quarter of 2010 and first quarter of 2018, prices for residential housing units which are located within 5 minutes’ walking distance of the metro network have seen average growth of 51% as compared to an average increase of around 28% all throughout Dubai.

Prices for housing units within 10 minutes’ walking distance from the metro network witnessed average growth in prices by 58%. Those located within 15 minutes’ walking distance saw 33% of average growth. As of the first quarter of this year, average per sq. ft. prices for buildings located within 5 minutes of the metro network were lower by 4% than the average price per sq. ft. in Dubai.

As a result, several real estate developers are concentrating on developing projects along upcoming and current MRTS routes like the Red Line Extension which will be fully operational by the year 2020 and the Expo 2020 route. There is growing buyer appetite for units which are located near the Dubai Metro network and this trend is likely to continue according to experts.

Resident Editor