Summary
As witnessed globally in the real estate market, any change in infrastructure can bring about a direct change in the Property Prices in the vicinity. The much awaited Dubai Metro Red Line will bring about a meteoric rise in Rents and Property Prices for sure.The city which has a large expatriate population with their families will find a major relief in commuting within the city from September 2009. Currently the citys public transport system has only the RTA buses or the Public Taxis to fall back on.Both of which are non -practical. Waiting for long periods of time in the scorching desert heat was a ordeal suffered by residents for decades.People travelling by private cars also had to face a slightly heavy toll charge and also endure traffic jams. . With the Red line trudging along a major part of the city ,families will now try and move closer to the metro station in an attempt to solve their daily commuting problem.
Analysis
This is going to have a slight impact on RERA act which has imposed ceilings on Rent increases in Dubai.
