Stuff your agent don’t tell you when buying a property near a MRT station

By 2030, Singapore will enjoy greater interconnectivity via new MRT lines; the Thomson Line and Downtown Line and three extensions in Tuas West, North-South and North East Line.

Some might argue that once all the new improvements and lines are built, one will rarely discover a residential region in Singapore, irrespective of whether it is within the CCR, RCR or OCR, no longer reachable by way of MRT.

If so, is it still worthwhile to buy or hold on to a home near an MRT station?

Distance to Station

The nearer a home is to an MRT station, the greater premium charge it could command. On the average, residences close to MRT stations can be worth at least 10 to 15 percent more than those which might be similarly away. This is because these MRT lines enhance accessibility and convenience for residents within a neighbourhood. In truth, homes near an MRT station will generally be able to maintain its value in the course of a downturn and spot higher price appreciation during a property upswing.

For instance, average property transactions within the regions of either a 10-minute stroll or 1-km radius from Circle Line stations have risen appreciably since 2009.

“Typically, homes which might be near MRT stations are already attractive. Property shoppers who are looking around will start to examine newly-released residences in which upcoming MRT stations will be constructed. These locations are commonly lower in value before the MRT stations are built, and will see a gradual rise in cost over the years,” explained Eugene Lim, KEO for ERA Realty Network Pte Ltd.

How high transactions go depends on the amenities near a home at any point in time. Property-seekers should also study a location’s future plans (based on the URA Masterplan) in addition to demographic developments – the type of citizens who might be attached to the place (eg. younger couples, expats) – to decide on an investment potential.

Close proximity to a MRT station could mean greater noise levels, particularly from above-ground stations along the North-South and East-West lines. This can adversely affect the desirability of nearby properties.

Convenience of transit to the closest MRT is another important component to bear in mind. For instance, homes within 1 kilometre from the nearest MRT station can stand to gain more if they are located close to bus networks. Clearly, having five buses travel the same 1-km distance from the stated property to the MRT station is preferred as compared to a property that is served by only one feeder bus service.

As more MRT stations are built, there is a belief that the MRT impact may diminish. However, this  creates opportunities where homes are served by two or more nearby MRT stations. Being equidistance from two MRT lines reduces transportation time as residents get to choose a shorter route.

Below is a list of condominiums that are currently undervalued in terms of their long-term potential:

RESEARCH on Freehold & 999-year leasehold Properties near MRT stations

NEL (North East Line)

Kovan – [email protected] (140), The Tembusu (337)
Serangoon – Jade Residences (171)
Woodleigh – Avon Park (179), Parc Mondrian (240), Euro-Asia Park (163) [email protected] (240), E Maison(130)
Farrer Park – City Square (910)
Little India – Parc Emily (295)
Dhoby Ghaut – Parc Sophia (152), VisionCrest (265), The [email protected] (120), Sophia Residence (272)
Chinatown/Telok Ayer – Emerald Garden (265)
Outram Park/Cantonment – Spottiswoode Suites (183)
HarbourFront – HarbourLights (139)

EWL (East West Line)
Eunos – Casa Sarina (138)
Paya Lebar – Paya Lebar Residences (117), Katong Regency (244)
Aljunied – 1 Suites (112), Atrium Residences (142)
Lavender – Kallang Riverside (212)
Outram – Spottiswoode Suites (183)
Tiong Bahru – Twin Regency (234)
Queenstown – Alexis (293)
Dover – The Marbella (239)

NSL (North South Line)
Toa Payoh – Trellis Towers (384)
Novena – Thomson Euro-Asia (136), Newton Suites (118), Lincoln Suites (175)
Newton – Trilight (205), Goodwood Residence (210), The Scotts Tower (231), L’Viv (147), [email protected] (208), Newton Edge (104), Vida (137)
Orchard – The Metz (169), The [email protected] (157), The Boutiq (113), Espada (232), St Thomas Suites (176), Urban Suites (165), Waterscape at Cavenagh (200)
Dhoby Ghaut – Parc Sophia (152), The [email protected] (120), Sophia Residence (272), VisionCrest (265)

CCL (Circle Line)
Dhoby Ghaut – Parc Sophia (152), The [email protected] (120), Sophia Residence (272), VisionCrest (265)
Dakota – The Sunny Spring (338), The Waterina (398)
Paya Lebar – Paya Lebar Residences (117), Katong Regency (244)
Macpherson – Le Crescendo (228)
Serangoon – Jade Residences (171)
Lorong Chuan – Goldenhill Park Condo (390), Amaranda Gardens (189), The Chuan (106)
Marymount – Tresalveo (176)
Caldecott – Thomson 800 (390)
Farrer Road – Gallop Gables (140), Spanish Village (226)
Holland Village – Parvis (248), The Cornwall (99)
Haw Par Villa – The [email protected] (180), Parc Imperial (138)
Pasir Panjang – Bijou (120)
Telok Blangah – Skyline Residences (283)
HarbourFront – HarbourLights (139)
Cantonment – Spottiswoode 18 (251), Spottiswoode Suites (183)

Thomson-East Coast Line (TEL)
Lentor – Thomson Grove (116), The Calrose (421)
Bright Hill – Faber Garden Condominium (233)
Upper Thomson – Sin Ming Plaza (102)
Caldecott – Thomson 800 (390)
Stevens – Robin Residence (264), The Glyndebourne (150)
Napier – Botanic Gardens Mansion (112), Botanic Gardens View (145), Grange Residences (164)
Orchard Boulevard – Grange Residences (164), Cliveden at Grange (110), Cuscaden Residences (150), Four Seasons Park (202)
Orchard – Scott Square (338), Paterson Suites (102), Kim Sia Court (172), Richmond Park (159)
Great World – The Trillium (231), Yong An Park (288), Mirage Tower (248), The Cosmopolitan (228), Tribeca (175), Tiara (264),
Pacific Mansions (288), Rivergate (545), The Regalia (116), Starlight Suites (105), Euro-Asia Court (105), Grange Heights (120), Martin Place Residences (302), Urbana (126)
Havelock – Tribeca (175), Mirage Tower (248)
Outram – Spottiswoode Suites (183)
Shenton Way – Robinson Suites (167)
Tanjong Rhu – Parkshore (152)
Katong Park – The Belvedere (167), The Seafront on Meyer (327), The Line @ Tanjong Rhu (130), The Atria at Meyer (158), The Waterside (502), Hawaii Tower (135)
Amber – Aalto (196), Amber Point (100), Amber Skye (109), King’s Mansion (196), Amber Park (200), One Amber (562), The Makena (504), The Sea View (546), Amber Residences (114)
Marine Parade – Marine Blue (124), Coralis (127), Amber Residences (114)
Marine Terrace – St Patrick’s Residences (102), Tierra Vue (129),
Grand Duchess at St Patrick’s (121), Seventy Saint Patrick’s (186), The Seawind (222), Ocean Park (298), Vibes @ East Coast (117)
Siglap – Elliot at the East Coast (119), Fernwood Towers (215)
Bayshore – Riviera Residences (138), The Summit (242)
Sungei Bedok – Country Park Condominium (160)

2017-04-02T04:24:44+00:00 March 24th, 2017|Blog|