Singapore, 20 Sep 2022 The completion of six more MRT stations on the Cross Island Line (CRL) will likely boost property prices in the areas and older condominiums may now have higher en bloc potential, said property analysts.
Transport Minister S Iswaran announced on Tuesday (Sep 19) that six new stations - Turf City, King Albert Park, Maju, Clementi, West Coast and Jurong Lake District - will form Phase 2 of the Cross Island Line.
Ms Christine Sun, senior vice president of research and analytics at OrangeTee & Tie, said the announcement will give buyers a firmer timeline on when the stations are expected to be completed, which will help them make more informed decisions.
“Prices of some condos near MRT stations may also rise when the MRT stations are completed. This is because the value of a project is being enhanced when these homes are leased for rental income in the future and projects near MRT stations are usually popular among tenants,” she added.
Ms Sun said: "There could be a possibility of public housing especially since their lease is coming to an end in 2023 and the site is slated for residential use."
People staying in the east and north-east will benefit the most from the launch of the new MRT stations, said Ms Sun.
"There has been quite a number of new condos and public housing built in Hougang, Ang Mo Kio, Tampines and Pasir Ris. Therefore, it is necessary to enhance their connectivity with the rest of the island," she said.