Dubai: Property prices for buildings in walking distance from metro jump up to 77%

Dubai: Property prices for buildings in walking distance from metro jump up to 77%

Properties located within 10-15 minutes of walking distance from Dubai Metro stations recorded up to 77 per cent increase in prices in the past five years.

According to a study released by real estate consultancy CBRE on Tuesday, properties which were within a 15-minute walk of a Dubai Red Line metro station saw prices increase by 26.7 per cent on average between Q1 2010 and Q4 2022, outpacing Dubai’s average increase of 24.1 per cent over the same period.

The highest rate of price growth was recorded by properties which fell into the 10 to 15-minute walking distance category, which saw prices increase by 43.8 per cent on average.

According to CBRE, Barsha Heights (77%), Jumeirah Beach Residence (50.1%), Downtown (47.4%), Dubai Marina (33.1%) and Jebel Ali Free Zone (25.7%) saw the highest increase in property prices located within 15 minutes of walking distance to a metro station.

While property prices within 0-5 minutes of metro station grew by 35.8 per cent.

However, properties within the 5-10 minutes proximity category with modern amenities and quality urban infrastructure, such as JBR and Dubai Marina, bucked this trend and recorded price growth of 40.5 per cent and 35.9 per cent, respective, said Taimur Khan, head of research