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Friday, December 16, 2016

Prices of properties along MRT route set to soar

Good connectivity always means good property prices, says an expert.
Chang-Kim-Loong
PETALING JAYA: Property experts predict a rise in the prices of properties located along the route of the Sungai Buloh-Kajang MRT line, part of which was opened yesterday.
National House Buyers Association secretary-general Chang Kim Loong said properties with good connectivity would always fetch good prices.
“Property owners stand to enjoy the higher capital appreciation that comes with enhanced connectivity,” he told FMT.
Chang advised prospective buyers to do their own research on the specifics of the locations and the reputation of developers.
“Buy from developers who have good track records and strong financial positions,” he said.
He urged house buyers to look for areas that were not highly congested. “Highly-populated areas will suffer from noise pollution and have an influx of outsiders who will park indiscriminately,” he said. “This will deprive residents of their privacy.
“Traffic congestion may also occur because the roads within most residential areas are designed for light and not heavy traffic.”
Auctioneer Suresh M said he expected properties located within five minutes of the MRT to gradually increase in value.
“Even before the launch of the MRT, developers had already started using the project as a marketing point to sell their properties,” he said.
He said properties in the more commercial areas, such as Mutiara Damansara, Kota Damansara and Bandar Utama, were expected to fetch higher prices than those in locations like Sungai Buloh.
“The commercial areas are already established and tend to attract more buyers,” he said. “These areas have shopping centres, office blocks and many other amenities, which make them more attractive to potential house buyers.”
Suresh said a good feeder bus service would have a great impact on property prices.
“The MRT and the feeder service are a cheaper alternative to driving as commuters can save on petrol, toll and parking,” he said. “Homeowners will stand to gain as they can increase their rents.”
Yesterday’s launch marked the completion of a 21-kilometre line from Sungai Buloh to the Semantan station in Damansara. The rest of the Sungai Buloh-Kajang track is scheduled for opening next July. It will include an underground section in downtown Kuala Lumpur.
Upon completion of the second phase, the line will cover a distance of 51km and have 31 stations. -FMT

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