New MRT line a boon to private properties nearby

The Cross Island MRT line (CRL) is only in the planning phase with 12 stations in Phase 1 finalised just end of last month.

Yet properties near the proposed MRT stations have already seen a boost in sales.

First 12 stations of the Cross Island Line confirmed

The CRL will eventually connect townships such as Changi, Loyang, Pasir Ris, Hougang, Ang Mo Kio, Bukit Timah, Clementi, West Coast and Jurong.

It plans to provide efficient commute between some of the furthest-flung locations such as Jurong and Changi and is expected to have a daily ridership of at least 600,000 commuters.

The 29 kilometres of Phase 1 of the CRL comprises 12 stations from Aviation Park to Bright Hill. The CRL will connect to existing or upcoming MRT lines at Bright Hill, Ang Mo Kio, Hougang and Pasir Ris.

Phase 1 of the CRL will have three other interchanges at Ang Mo Kio with the North-South Line, at Hougang with the North East Line and at Pasir Ris with the East-West Line. The CRL will be Singapore’s eighth MRT line.

Construction for CRL1 is expected to commence in 2020 and be completed by 2029.

See more: Developers offer various incentives to attract buyers

More condos in Hougang seeing brisk sales from “MRT Effect”

A few condominium projects in Hougang and Serangoon North are already seeing the benefits of the CRL as the announcement alone brought brisk sales.

Affinity at Serangoon, for example, saw a spike in buying interest following the announcement of the CRL Phase 1. 45 units were sold at an average price of $1,475 psf within a week. Out of the 650 units launched this far, 360 units have been sold.

The usual sales volume for a weekend is 5 to 8 units but they have since sold 30 units in one weekend alone.

Riverfront Residences, Condo.

Another project that has seen an increase in interest and demand is Garden Residences which will be near the future Serangoon North MRT station.

Analysts also expect properties near Hougang MRT station such as The Florence Residences and Riverfront Residences to also benefit from the MRT effect.

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