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The property, located within a 15-minute walk from Dubai Metro stations, has increased in price by up to 77% over the past five years.
According to a study published by CBRE consulting company, real estate prices located within a 15-minute walk from the Dubai Red Line metro station increased by an average of 26.7% in the period from Q1 2010 to Q4 2022, outpacing the average increase in real estate prices in Dubai by 24.1% over the same period.
The highest rates of price growth were recorded in relation to objects located within 10-15 minutes of walking — prices for them increased by an average of 43.8%.
According to CBRE, the areas of Barsha Heights (77%), Jumeirah Beach Residence (50.1%), Downtown (47.4%) and Dubai Marina (33.1%) saw the highest price increases for real estate located within a minute walk to the metro station.
At the same time, real estate prices within 0-5 minutes from the metro increased by 35.8%.
However, facilities within 5-10 minutes proximity with modern amenities and high-quality urban infrastructure, such as in JBR and Dubai Marina, resist this trend and recorded price increases of only 40.5% and 35.9% respectively, said Taimur Khan, head of research at CBRE.