4 Pros And Cons Of Buying A Property Near LRT And MRT Stations
When you choose to purchase a property for investment purposes, you’d expect that one day, you’d be able to turn over a nice profit (either from renting it out or selling it off).
Even if you intend to buy a home for your own stay in the near future, it’s best to be sure that it stands to improve, in terms of value and desirability.
As such, choosing a property that’s near to rail transportation is one way to be on the right track (no pun intended!) to ensuring you get a worthwhile buy.
Early in 2012, the Malaysian government announced that two of Klang Valley’s light rail transit (LRT) lines, the Kelana Jaya and Ampang LRT lines, would be extended.
Once it was completed in 2016, areas like Lembah Subang, Subang Jaya, USJ, Putra Heights, Bandar Kinrara, and Puchong now benefit from the line extension.
In addition, once the mass rapid transit (MRT) line 3 is fully completed in 2030, it will involve a proposed 30 stations benefitting areas such as Sentul East, Setiawangsa, Taman Midah, Old Klang Road, and Pantai Dalam.
So, if you’re on the lookout for a new property purchase, why not consider living near any one of these lines? Let’s look at some of the advantages and disadvantages first, so that you will be able to make a better-informed decision.
Advantages Of Living Near Train Stations
1) Value appreciation
Properties that are located near transportation hubs tend to see their value appreciate much quicker and retain their value better than those that are less ideally placed.
On a rough average, there can be an increase in value of 10% to 20%, compared to those in more remote areas.
2) Highly convenient
People who are on the lookout for a place to live will usually prioritise convenience over other factors.
With many stations featuring at least one mini mart (and sometimes with a few pop-up gerai outside too!), they can get their daily essentials and seamless connectivity in one spot.
For example, if you take the LRT from Kelana Jaya station to KL Gateway-Universiti station, it will only be a 15-minute journey. However, if you were to drive instead and there was a traffic jam, it could take you up to 30 minutes for the same route!
3) Popular among renters
Thanks to the convenience factor that these developments enjoy, they thus have a higher demand, especially among the working-class people who take public transport to and from work.
For them, any property within walking distance is a plus point, so you’ll always have a steady supply of tenants.
4) Better rental rates
Finally, if you’re a good landlord who takes care of the property and tenants well, you’ll find that your popular property would be able to command a higher rent.
In fact, high-rise projects near train stations benefit the most, according to the National Property Information Centre (NAPIC), which can see an average rental gain anywhere between 1.2% to 6.6%.
Disadvantages Of Living Near Train Stations
1) Peak hour traffic
It’s a well-known fact that transportation hubs become packed with both vehicles and people during peak hours, as many Malaysians prefer to drive (or be driven!) to the nearest station – even if it’s only minutes away.
This will affect the peace of living in the area, especially for those who use the property for own stay (looking at you, Taman Bahagia LRT station).
2) Noise pollution
The LRT and MRT trains start operating as early as 6am and run all the way up till 11pm – every single day, unless if we’re under Movement Control Order (MCO), of course!
If you’re a light sleeper or someone who wants to unwind after work, then you’re going to have a difficult time getting used to the sound of screeching brakes, clackety tracks, and regular announcements.
3) Undesirable views
If you bought a unit facing the station, imagine having to see so much steel and concrete, instead of flora and fauna.
Worse is if your unit is on the lower floors, because then there’ll be a steady stream of people, contributing to the lack of privacy.
4) Lack of safety
If you buy a unit for your own stay that’s nearby/sits right on top of a train station, you might find that having so many strangers in the vicinity to be a cause for concern, especially if you’re returning late at night.
Snatch thieves tend to focus on areas with high foot traffic (like transportation hubs), as many people would be walking to and from the station, thus making them easy targets.
Case in point: A man was waiting to cross the road right outside the SS15 LRT station when a snatch thief on a motorcycle took his handphone in mere seconds.
Do The Advantages Outweigh The Disadvantages?
Pros of living near train station
Cons of living near train station
Peak hour traffic
Popular among renters
Better rental rates
Lack of safety
At the end of the day, you need to ask yourself if the property you’re looking at has more factors that will benefit you and your loved ones.
Apart from looking at the ease of connectivity brought about by living near a train station, you’d also need to consider if the developer is a reputable one or not.
You see, the best names in the industry adhere to some of the strictest building guidelines, as well as have extensive experience in delivering quality projects, so you can have peace of mind knowing that your home is safe and solid.
In addition, you also need to look at the price tag, to see whether it falls within your budget. You wouldn’t want to buy a home that ticks all the right boxes – only to find that the monthly repayments will drain your salary till you’re barely surviving!
Finally, always make sure that you do lots of in-depth research, comparisons of similar properties, and asking all the necessary questions so that you are well-informed and can make a decision that will benefit you for years to come. Good luck!