Properties near MRT Stations are generally more crowded. MRT network size is set to double by 2030. By then most of the properties are within a kilometer from the MRT station. So, is it worth to pay a premium for properties near the MRT stations?
Do apartments in more crowded projects sell at a lower price?
An increase in localized density negatively affected prices: a 10 per cent increase in density caused a decrease in price per square foot by about 2 per cent.
Related reading articles:
The Straits Times
The impact of crowdedness on housing prices
Recently, there was a news article in CNA reporting that the Kuala Lumpur High Speed Rail (HSR) Terminal will feature the largest underground city in the world. In south of KL, the HSR will connect to Singapore. In the north, it will connect with Bangkok and all the way to China’s Kunmin.
Bandar Malaysia featuring the world’s biggest underground city
On a bigger picture, it is part of China very ambitious plan to build China’s new Silk Road. This is the modern Silk Road in the making.
Channel News Asia
Property owners can now access free information on their property using a new online service called MyProperty.
I used to pay at least $5.25 per title search at INLIS. Now the service is available for free. Check it out at www.sla.gov.sg/MyProperty with your singpass.
The property market in Singapore is divided in to 3 segments. The following two maps are self explanatory.
Core Central Region – blue, orange and pink
Showing the 3 market segments
- Core Central Region (CCR)
- Rest of Central Region (RCR)
- Outside Central Region (OCR)
The chart below is a guide on the psf range for new launches from BTO, DBSS, EC to condos in OCR, RCR and CCR. Its an old chart, courtesy of PropNex, but it is still relevant in current market.
Price guide in different market segment/property type
I was invited to Propnex property seminar by my cobroke buddy over the weekend. One of the useful chart which I’ve picked up from the seminar, courtesy of Mr Ismail Gafoor, is this psf range chart for new launches. The chart gives us a guide on the psf range for new launches from BTO, DBSS, EC to condos in OCR, RCR and CCR. I find the chart very useful to give an overall view of what the property prices are in all the categories.
Ben Choong Property – price range