Prices of Homes Near Singapore’s Next Subway Line Set To Rise.
Values of homes near SIngapore’s next subway line set to rise. But some experts expect prices to more likely to rise more nearer to the completion of the line by 2021.
Singapore (I-Newswire) September 9, 2012 - When Singapore new subway line, called the Thomson MRT line, completes by 2021, experts expect prices of home along the subway line to rise. Singapore will become even more interconnected with the new Thomson MRT line, and Singapore property market will see new price adjustments throughout the island.
Residential homes within a 500 meters radius of stations will likely benefit from the completion of the Thomson MRT line. Homes close to the new MRT stations may enjoy about 10 to 30 per cent gain in prices, depending on how close they are to the stations.
The location of MRT station can have more impact on prices for homes which are located further away from the town, in areas where public transportations options are more limited. Historically, homes near completed MRT stations tend to command a premium of 10 to 15 per cent above those further away.
Meanwhile, while construction begins for the new MRT line, the disruption to nearby homes may have an impact of their prices and rents. Experts say the construction inconveniences will impact the prices but when interest pick up closer to the completion of the MRT line, prices will rebound.
While values and asking prices may not drop despite the construction inconveniences around home hear Thomson MRT line, rents may be affected as the homes may be less appealing with the noise, dust and inconveniences.
Foreign buyers who are interested to invest in Singapore may want to study the new Thomson MRT line. This new subway line will connect the north south corridor of Singapore and offers many new investment properties along the line.
Investors looking at other Singapore property, are welcome to visit http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com for new launch Singapore properties. BuyRentSingapore.Com is a Singapore property listing website.
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Published On:September 9, 2012
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