Should you buy near to the new MRT lines?

[vip]

http://propertysoul.com/2013/01/18/s...-the-mrt-line/

Should you buy near to the new MRT lines?

January 18, 2013

The government just announced two new MRT lines to be built by 2030. By then, 80 percent of households in Singapore will be a 10-minute walk to any station.

For the convenience of residents traveling in the small island, the initiative should be applauded. This is what a comprehensive public transportation system should be like in a modern city like Singapore.

Wait, for those who are property-obsessed like me, is this good news?

Think an MRT station built right in front of your doorstep can increase the value of your property? Think again.

What about the hassles (air and noise pollution, traffic congestion, etc.) you have to endure during its construction?

How to convince buyers and tenants that the construction mess is only temporary and convenience will come in the near future?

Would it take long before your condo will be surrounded by public housing, neighborhood shops, hawker centres, ‘pasar malam’ that tend to be found near MRT stations?

Can you imagine the traffic jam, shopping crowd, human noise, etc. that come at peak hours, every evening, all weekends and on public holidays?

Do you know why projects at prime districts like Tanglin, Bukit Timah, Holland Road, River Valley can sell at premium prices, regardless of proximity to any MRT station?

Honestly, do you or your family really heavy users of public transportation? Or do you rather drive or be chauffeured around?

For me, I prefer to stay in a quiet place at least 10-minutes away from the bustling atmosphere of the MRT station (bus is ok though).

The most important thing is that I won’t see the MRT track from my window. From experience, if you can see it, you can definitely hear it – no matter how far the distance or how high the storey you are in.

It is interesting to see that sales brochures distributed in any showflat in Singapore like to highlight the selling point ‘near to MRT’. Sometimes, one MRT is not enough. They put ‘proximity to’ or ‘in between’ two MRT stations (Although in reality, it may not be near to any of the two).

In many big cities in US, Europe and Tokyo, you won’t find any developer using ‘near to public transportation’ as a selling point (except when selling to overseas buyers like Singaporeans!). It is because there are so many mass transit lines and stations that it is almost impossible not to find one near to any development.

The history of MRT in Singapore is not very long. For many years, there are only two lines (North-South and East-West) serving the whole country. And it is the slow development and lack of improvement in the MRT service that make it sound very precious to be near one.

Perhaps one day, when our MRT system can match big cities like Tokyo, a property next to the MRT station will also be nothing special to a buyer.

[leesg123]

Ultimately it still boils down to the district. mrt is prime district vs mrt in heartland.

[phantom_opera]

I tend to agree with bro mcm ... MM + MRT + Mall (and/or Massage) = Huat 888X

And someone did mention once Thomson Line connects into JB Sentral ... MMs near northern stretch of Thomson Line will huat 8x

[henryhk]

Condo not near mrt will drop faster and deeper wen market crash....worse situation can't even rent out, as tenants also need to be near mrt as Coe is v v high and may not own a car!! Listen to a victim like me.

[mcmlxxvi]

I tend to agree with bro mcm ... MM + MRT + Mall (and/or Massage) = Huat 888X

And someone did mention once Thomson Line connects into JB Sentral ... MMs near northern stretch of Thomson Line will huat 8x

Ya one of the M can be diff things to diff pple.

Mall or
Massage or
Market or
McDonald's or
MacRitchie

or Mother

[phantom_opera]

Ya one of the M can be diff things to diff pple.

Mall or
Massage or
Market or
McDonald's or
MacRitchie

or Mother

proximity to Malaysia ....

[leesg123]

I tend to agree with bro mcm ... MM + MRT + Mall (and/or Massage) = Huat 888X

And someone did mention once Thomson Line connects into JB Sentral ... MMs near northern stretch of Thomson Line will huat 8x

MM at Southern stretch of TSL will also huat considering there got so many malls and MBS!
So MM+MRT+MALL+MBS (near cbd downtown)= Super Huat!

[Rosy]

TS failed to take high car cost in Singapore into consideration.

In overseas where cars are alot cheaper which cost less than our COE, proximity to major expressways are more important than subway.

For london properties in particular, proximity to subway stations is very important especially for inner city living 1bedders.

[wind30]

Frankly,

I think the new lines are pretty useless.

I am not sure if LTA is drunk when they draw up the alignment... it goes all over the place.

The new lines also usually does not go anywhere useful. Just look at the upcoming Downtown line.

The best line is still the oldest lines. NS line. All the major places you need is on that line.

[Kelonguni]

Frankly,

I think the new lines are pretty useless.

I am not sure if LTA is drunk when they draw up the alignment... it goes all over the place.

The new lines also usually does not go anywhere useful. Just look at the upcoming Downtown line.

The best line is still the oldest lines. NS line. All the major places you need is on that line.

SG is in a dynamic state of development. Things will change drastically. Nowadays MRT first then development, can sell higher and better.

[wind30]

SG is in a dynamic state of development. Things will change drastically. Nowadays MRT first then development, can sell higher and better.

but you still will want to go Orchad road, sommerset, cityhall, funan center, etc.

[richwang]

You should buy Iskandar - it is near one end of CRL.
By the way, when Thomson Line is up and running, the property price in the North will indeed Drop - who wants to pay 5 times higher price for a 20 mins time saving?

This had happened to the Northern part of Hong Kong border.

Thanks,
Richard

[wind30]

You should buy Iskandar - it is near one end of CRL.
By the way, when Thomson Line is up and running, the property price in the North will indeed Drop - who wants to pay 5 times higher price for a 20 mins time saving?

This had happened to the Northern part of Hong Kong border.

Thanks,
Richard

I think Johor is very different from Singapore...

hear so many horror stories. If Johor can get the crime problem under control then probably it will be more attractive

[Kelonguni]

but you still will want to go Orchad road, sommerset, cityhall, funan center, etc.

Depends on which group you refer to. For me and peers in my setting, we visit those places less than once every few months. Most important is food centre and NTUC.

[hyenergix]

Depends on which group you refer to. For me and peers in my setting, we visit those places less than once every few months. Most important is food centre and NTUC.

Used to b the place to hang out in my teens. Now it is small neighbourhood malls n hawker centers. Dun have much to do w Orchard Rd nowadays.

[Kelonguni]

Used to b the place to hang out in my teens. Now it is small neighbourhood malls n hawker centers. Dun have much to do w Orchard Rd nowadays.

Therein lies the story of OCR and CCR. Nonetheless, there will always be a group who always go to these places. Same as some types of expatriates.

[roly8]

buy here and there..

still a small red dot...





don't blame me ok? me like to see thing from bigger picture.




on the surface, the jurong line talk big about having a line to NTU and industiral..

in fact is to transport older & poorer people to the two jurong hospitals..

[hyenergix]

buy here and there..

still a small red dot...





don't blame me ok? me like to see thing from bigger picture.




on the surface, the jurong line talk big about having a line to NTU and industiral..

in fact is to transport older & poorer people to the two jurong hospitals..

The new MRT lines should be driven by the companies at the west that are screaming for more workers. Not many people want to work there and these companies cannot find enough workers. The MRT lines should enhance the attractiveness of Jurong/Tuas. If not many SMEs will shift to Iskandar - many will do so in the next 5 years as the companies feedback to me about their plans as early as 2 years ago.

[wind30]

Depends on which group you refer to. For me and peers in my setting, we visit those places less than once every few months. Most important is food centre and NTUC.

food center and ntuc need mrt meh

[Stingray]

The price difference for property near MRT and LRT is about $200psf. If the area is 1000sf then the difference is $200,000.

A trip from LRT to MRT, I think, is $0.07. So with a $200,000 difference in price, I could take around 2.8 millions trips from LRT to MRT. So is it worth to buy near MRT? It is up to individual.

I am just sharing my thought.

[leesg123]

Interesting way of looking at it, how about the time taken? How about breakdown?

Anyway the argument of ccr vs ocr is so boring. Ccr will always be ccr, always attract tourist, expat, high income earners. It is all in the masterplan. Ocr will always be ocr, regardless what regional hub lah, etc. is like comparing gold and silver. No point argung which is better, they are different. To some silver are worthless and gold is everything! To some silver is better than gold....boring lah!

[august]

one breakdown u will cry father cry mother liao.
nowadays even telco can breakdown for u for few days lol.
welcome to spore's 'new norml'.

[phantom_opera]

that's why CRL is supposed to be the failover line iif anything wrong with EWL, Thomson line will backup NSL... of course it takes another 18y .. so Punggol East residents beware

[Stingray]

Interesting way of looking at it, how about the time taken? How about breakdown?

Anyway the argument of ccr vs ocr is so boring. Ccr will always be ccr, always attract tourist, expat, high income earners. It is all in the masterplan. Ocr will always be ocr, regardless what regional hub lah, etc. is like comparing gold and silver. No point argung which is better, they are different. To some silver are worthless and gold is everything! To some silver is better than gold....boring lah!

Agree about the breakdown and time taken.

All really boils down on own preference. And different phase of life will have different liking and needs too.

[cnud]

Buy near underground stations.

[teddybear]

Good wah, MRT breakdown, got excuse don't need to go to work right? Why complain?
Telco breakdown, become uncontactable, also don't need to go to work right?

But for businessmen will die, 1 day >$1m business revenue gone!
So businessmen better be independent, save time by living in convenient area and own transport.....

one breakdown u will cry father cry mother liao.
nowadays even telco can breakdown for u for few days lol.
welcome to spore's 'new norml'.

[wind30]

The price difference for property near MRT and LRT is about $200psf. If the area is 1000sf then the difference is $200,000.

A trip from LRT to MRT, I think, is $0.07. So with a $200,000 difference in price, I could take around 2.8 millions trips from LRT to MRT. So is it worth to buy near MRT? It is up to individual.

I am just sharing my thought.

my time spent on taking the lrt is worth more than 7 cents

[star]

Time is money. U can buy time with money.

[Pikachu1245]

http://propertysoul.com/2013/01/18/s...-the-mrt-line/

Should you buy near to the new MRT lines?

January 18, 2013

The government just announced two new MRT lines to be built by 2030. By then, 80 percent of households in Singapore will be a 10-minute walk to any station.

For the convenience of residents traveling in the small island, the initiative should be applauded. This is what a comprehensive public transportation system should be like in a modern city like Singapore.

Wait, for those who are property-obsessed like me, is this good news?

Think an MRT station built right in front of your doorstep can increase the value of your property? Think again.

What about the hassles (air and noise pollution, traffic congestion, etc.) you have to endure during its construction?

How to convince buyers and tenants that the construction mess is only temporary and convenience will come in the near future?

Would it take long before your condo will be surrounded by public housing, neighborhood shops, hawker centres, ‘pasar malam’ that tend to be found near MRT stations?

Can you imagine the traffic jam, shopping crowd, human noise, etc. that come at peak hours, every evening, all weekends and on public holidays?

Do you know why projects at prime districts like Tanglin, Bukit Timah, Holland Road, River Valley can sell at premium prices, regardless of proximity to any MRT station?

Honestly, do you or your family really heavy users of public transportation? Or do you rather drive or be chauffeured around?

For me, I prefer to stay in a quiet place at least 10-minutes away from the bustling atmosphere of the MRT station (bus is ok though).

The most important thing is that I won’t see the MRT track from my window. From experience, if you can see it, you can definitely hear it – no matter how far the distance or how high the storey you are in.

It is interesting to see that sales brochures distributed in any showflat in Singapore like to highlight the selling point ‘near to MRT’. Sometimes, one MRT is not enough. They put ‘proximity to’ or ‘in between’ two MRT stations (Although in reality, it may not be near to any of the two).

In many big cities in US, Europe and Tokyo, you won’t find any developer using ‘near to public transportation’ as a selling point (except when selling to overseas buyers like Singaporeans!). It is because there are so many mass transit lines and stations that it is almost impossible not to find one near to any development.

The history of MRT in Singapore is not very long. For many years, there are only two lines (North-South and East-West) serving the whole country. And it is the slow development and lack of improvement in the MRT service that make it sound very precious to be near one.

Perhaps one day, when our MRT system can match big cities like Tokyo, a property next to the MRT station will also be nothing special to a buyer.

Believe those who take mrt regularly will agree that lodging (PC/EC/DBSS/EC/HUDC/HDB) with close proximity to mrt is very very important/prefered as it save them time on a daily basis. This is especially so as COE is trending up and more people may be foregoing their car in future to take mrt.

For tenant, they will not be bothered whether the lodging is freehold or not. Convenience is of utmost importance to them. This convenience is provided by being near mrt station / mall.

My view.

[samuelk]

Time is money. U can buy time with money.

can u point me to the shop that sell time?

I think typo