Has there been any impact on prices in communities adjacent to the proposed Metro extensions

Has there been any impact on property prices in communities adjacent to the proposed Metro extensions?

Chronically it is known that good transport links can be a fundamental factor for properties however other elements that are integral to determine the value include the project quality, current activity in the area and overall market conditions.

Dubai experienced a period of growth in 2013 to mid-2014 when property prices grew significantly across the board. This steep incline, an average 25%, did subject fears of an unsustainable growth however during the last 6 to 9 months there has been a softening in demand. The impasse between Sellers & Buyers was evident from last quarter of 2014 with the expectations of Sellers not being met by the Buyers however we have experienced signs of improvement throughout the market as a whole. For those properties in communities adjacent to the proposed Metro extension it is too premature to have impacted the prices with any significance but we do anticipate such communities benefiting from the infrastructure growth in the future. This potentially could be more valuable in the way of increased demand and higher occupancy levels as opposed to price inflation.

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