How is the MRT Project going to Affect the Overall Property Market?
Running up to 2012 before the MRT-SBK Line is completed, more property developers will be planning high density residential developments along the MRT route. Projects which are strategically located near MRT stations will likely to enjoy good sell-outs as buyers are confident of future demand for their property once the MRT is in operation. Proximity of any proposed condominium development in relation to a MRT station has been a major winning factor these days. New launches which are strategically located near to a MRT station will be expected to be priced at least 10% higher than others which are located further away.
Residential developments within walking distance to MRT stations will undoubtedly benefit the mmost as the demand for rental units at these areas will be guaranteed. Most working class commuters would like to have their rental housing within walking distance to MRT stations as first priority.
Comes 2017 when the MRT-SBK Line is finally completed, the commercial property in the vicinity of MRT stations will be in great demand. The huge number of passengers using MRT will give rise to plenty of new business opportunities of all kinds in the vicinnity of MRT stations. This has proven true in Singapore, HOng Kong and Taiwan. Commercial and retail premises which are located near MRT stations at these countries enjoy good occupancy rates and high rental. The same scenario will likely to repeat here in KL.
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