Property Values of Homes Within Close Proximity To Singapore’s Next Subway Line Set To Rise.
Values of homes located close to stations of SIngapore’s next subway line. are expected to rise. Prices may more likely to rise greater nearer to the completion of the line by 2021.
Singapore (I-Newswire) September 9, 2012 - When Singapore new Thomson MRT line is fully completed by 2021, prices of home located along the subway line are expected to increase. While Singapore will become even more interconnected with the new Thomson MRT line, Singapore property market will also see new price adjustments throughout the island.
It is expected that residential homes within 500 meters radius of new Thomson MRT stations will benefit from the completion of the Thomson MRT line. Some experts are saying that homes close to the new MRT stations may even enjoy about 10 to 30 per cent gain in prices, depending on their proximity to the new stations.
Thomson Line will pass through several residential districts which currently do not have MRT train stations nearby. Therefore, the location of MRT stations 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 or lack MRT line. Historically, from the data gathered from the last completed MRT line, the Circle line, homes near completed MRT stations tend to command a premium of 10 to 15 per cent above those further away.
Meanwhile, some property investors are worried that 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 likely impact the prices, but when interest pick up closer to the completion of the MRT line, prices will rebound.
The values and asking prices may not drop despite the construction inconveniences around home hear Thomson MRT line, but 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
Print Release:Print Release
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