Is it near the MRT?
Which MRT station?
How many stops to the MRT interchange?
If you are a homeowner, this term MRT is not new to you. But what kind of impact does it have on your property?
Watch on.
By now, you would have heard that Singapore’s Cross-Island Line (CRL) is set to begin its second phase early next year.
This new line will usher six MRT stations across the Downtown and East-West line. That means Singaporeans will have easier access through more interchanges around King Albert Park, and Jurong Lake area. This project will benefit about 40,000 homes with accessibility to the east and west areas of the country.
The most anticipated developments are the upcoming MRT stations in West Coast, Maju, and Turf City, as these locations have been underserved, transportation-wise, until today.
There are six stations in the works, namely:
- AYE and Jurong Town Hall location in Jurong Lake District
- Tanglin Secondary School in the West Coast
- Clementi station extension
- Singapore University of Social Sciences and SIM Global Education in Maju
- King Albert Park extension
- Grandstand in Turf City
What are the expected impacts of the New MRT Stations?
Better access for underserved areas
The upcoming Maju MRT station will serve the Sunset Way, creating more accessible points for SIM Global Education, and for residents previously underserved by the MRT, such as the owners of the Ki Residences.
Previously there have been talks the station is going to be right by Ki Residences yet when the announcement was made, unfortunately, it did not. Will the property there be affected by this new change?
Raised interest for nearby properties
We also have our eyes on the Clementi Park Condo. This 973,984 sqft freehold plot will become more attractive for people on the private property hunt.
While the future train stations aren’t going to be exactly connected to the properties, these developments will still catch the attention for their proximity. It’s also safe to assume that other surrounding condos will be considered by homebuyers too.
This is also the reason why you start seeing sellers asking for higher prices when the news is announced. News like MRT usually will have a direct impact on prices as sellers see that as an opportunity to raise them higher for future potential buyers who are looking to buy because of the MRT.
Decongested roads due to new mrt stations
Students studying at Qifa Primary School, Tanglin Secondary School, and Japanese Secondary School (especially their parents) are in for a less congested route when they commute to and fro. MRT access will significantly reduce rush hour traffic.
By the way, the government will be re-acquiring the industrial parks around the Pandan Loop.
So, homebuyers, keep your eyes on its nearby developments such as:
- NEWest
- The Infiniti
- Botannia
- Monterey Park
- Twin VEW
- Parc Riviera
- Whistler Grand
But do note that experts do not foresee a vast price and demand increase for the West Coast area.
There are a lot of mixed emotions about the Turf City MRT. The former lifestyle hub will surely be missed, but it will serve more property opportunities for Singapore’s ever-growing population.
With the area zoned for residential development in the masterplan, we can say it’s not surprising news especially when the government announced with just a 2 or 3 years extension for the businesses there.
This spell’s planning has already started to make way for future developments in the next couple of years aligning with the Cross Island Line.
Other property prices will stay put
While these new access points are welcome, experts say they won’t add to the area’s property values. This is because there had already been train lines plying the same route, such as the Clementi, Jurong Lake District, and King Albert Park.
A misconception many homeowners just like Clementi Park owners do is to raise their prices in anticipation of future developments like the MRT. No doubt there will have some effects but this is not the only reason why your property value will increase.
There are more than 10 different factors that we go through with our clients to ensure their property increases in value overtime.
Any clue what might be the 10? Share your views in the comment below.
Increased En-Bloc demands for some areas
While the previous point holds true, there might be a chance for residential zones around King Albert Park to be inclined to more en-bloc demand, such as the 30-year-old Casa Esperanza, and the 25-year-old Maple Woods.
Casa Esperanza
Although we are not seeing massive En-bloc movements for older properties unlike the times back in 2018 & 2019.
We are already seeing a dip in the overall supplies and with en-bloc not moving, we might see more government land sales being released instead.
With the new MRT stations , there will be land loss for some areas
JTC Corporation will be saying goodbye to the Pandan Loop. Casa Esperanza residents will let go of the car parking space acquired to accommodate the King Albert Park station extension.
Why such a massive move for the station extension? Well because King Albert Park has been zoned as the interchange where it will potentially connect the new integrated transport hub development, Reserve Residence by Far East as well as to Beauty World station too.
Fancy staying in an integrated property between 2 MRT stations and accessible to major amenities in the Beauty World Transformation? It’s going to be massive and you can have the 1st mover advantage. Connect with us and we will be glad to share more.
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Disclaimer: All information presented is based on personal opinions. Singapore Real Estate Insider is not liable for any losses and expenses whatsoever related to investment decisions made by the audience. The ideas presented are here for reference and educational purposes only.
