Value Of Singapore Property Near Future Thomson MRT Line Set To Rise.
Singapore property prices of homes near future Thomson MRT line stations are set to rise, especially when the line is near completion.
Singapore (I-Newswire) September 28, 2012 - Singapore property prices of homes near future Thomson MRT line stations are set to rise, especially when the line is near completion. Residential properties most expected to benefit will be those within 500 meters from the stations. Some experts believed that while there will be a boost to property prices when Thomson Line is completed, the boost may be less than earlier MRT line when Singapore was less well connected.
When construction starts, the inconveniences and road diversions may affect the prices of residential homes nearby. Prices may be suppressed because of the noise and dust. Buyers may not want to suffer these inconveniences until the Thomson Line is completed.
The price increase will be more significant for homes which are located further away from town and in areas where public transportation is an important way to get around. Historically, homes near completed MRT stations tend to gain about 10 to 15 per cent above those further away.
Experts also believed that residential areas further up north from Woodlands to Upper Thomson will greater increase in home prices as they benefit most from the reduction in traveling time to town from the completion of Thomson MRT Line.
While prices of homes near the future Thomson MRT Line is not expected to drop during the construction period, rentals may suffer slightly due to the noise, dust and inconveniences. Rentals have historically see a drop of about 5 per cent during these construction period. But will likely to recover about six to 12 months from completion of the stations.
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Published On:September 28, 2012
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