With the completion of the MRT Sungai Buloh-Kajang (SBK) line, property experts and homeowners expect property prices and rents within the area to increase, reported The Star.
“The MRT will help improve demand for those wanting to rent or buy nearby,” said Thomas Chooi, who is renting out units in Glomac Damansara.
This is because people do not want to get stuck in traffic jams, hence, are willing to pay more for the convenience of living near an MRT, he added.
Landlord Sam Liew from TTDI Ascencia is confident of seeing a hike in house prices.
“I am definitely expecting a sharp rise. The MRT is right opposite my house.”
In fact, Hartinee Ibrahim has witnessed an increased demand for the rooms she is renting out in Kajang. Notably, her shophouse is just 10 minutes away from the Kajang MRT station.
According to a property manager, who does not want to be identified, property prices near the SBK line could increase by as much as 15 percent in the next nine months.
SC Woo, a communication specialist in the property industry, expects the appreciation to extend over the long term.
“Typically these will be in areas where universities are located,” she said. However, she noted that prices of property near the MRT lines will not increase significantly over the short term.
This is because property value would increase gradually, explained property investor KM Lee, who is from Petaling Jaya.
“Since the announcement of the MRT line development in the early 2010s, the market price had factored in the appreciation throughout the years.”
Other cities such as Singapore and Hong Kong saw property value increase by between 10 and 15 percent, said an established developer in Selangor, who declined to be identified.
Image sourced from Gamuda
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
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