Closeness to mass-transit networks including the Dubai Tram, Dubai Metro, or bus stations of the Roads and Transport Authority (RTA) are a advantage for tenants who desire to keep away from long travel in vehicles.
The current pronouncement by the RTA to lengthen the Dubai Metro’s Red Line to the Expo 2020 location is an opening for investors to catch good bargains in societies situated next to the projected expansions.
The Metro extension will pass by through communities including Al Furjan, Dubai Investment Park (DIP), Discovery Gardens, and Jumeirah Golf Estates. These residential societies are also in the vicinity of the forthcoming theme park complex of Dubai Parks & Resorts complex in Jebel Ali. With the total numbers of visitors this complex is approximated to fascinate, real estate brokers advise astute investors to gain the first mover’s advantage by buying property in nearby communities.
Nevertheless, with structure on the development having just started, brokerages find it difficult to measure the instant blow on sale rates and rents in these communities.
Properties close to Dubai Metro stations currently generate a premium anywhere from five to eight per cent. However, this does not ring true for units straddling the Dubai Tram.
Moreover, it is inequitable to scrutinize property rates exclusively on the basis of nearness to transportation links. Other aspects that can influence property rates and rentals consist of the build excellence, residential facilities specifications/upgrades, unit sizes and views.
Buyers also think other issues such as generally demand and supply, investor sentiment, oil prices, the global economic environment, Middle East immovability and incentives thrown in by the Dubai government.
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