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Thread: Should you buy near to the new MRT lines?

  1. #1
    property soul

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    Default Should you buy near to the new MRT lines?

    [URL="http://propertysoul.com/2013/01/18/should-you-buy-near-to-the-mrt-line/"]http://propertysoul.com/2013/01/18/should-you-buy-near-to-the-mrt-line/[/URL]

    [B]Should you buy near to the new MRT lines?[/B]

    January 18, 2013

    The government just announced [URL="http://propertysoul.files.wordpress.com/2013/01/today_jan1813_1.jpg"][COLOR=#0066cc]two new MRT lines[/COLOR][/URL] to be [URL="http://propertysoul.files.wordpress.com/2013/01/today_jan1813_2.jpg"][COLOR=#0066cc]built by 2030[/COLOR][/URL]. 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.
    [URL="http://propertysoul.com"]http://propertysoul.com[/URL]

  2. #2
    ipropertyguru

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

  3. #3
    Music of the night

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    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
    Ride at your own risk !!!

  4. #4
    Newbie

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    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.

  5. #5
    东方

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    Quote Originally Posted by 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
    Ya one of the M can be diff things to diff pple.

    Mall or
    Massage or
    Market or
    McDonald's or
    MacRitchie

    or Mother

  6. #6
    Music of the night

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    Quote Originally Posted by mcmlxxvi
    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 [COLOR="Red"]M[/COLOR]alaysia ....
    Ride at your own risk !!!

  7. #7
    ipropertyguru

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    Quote Originally Posted by 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
    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!

  8. #8
    Junior

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    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.

  9. #9
    Newbie

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    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.

  10. #10
    Ultimate Underdog

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

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