According to MayBank Kim Eng Research, Singapore’s upcoming Thomson MRT Line (TSL) is expected to boost housing prices in nearby projects. In particular, older condo projects directly opposite Sin Ming station could see hefty price gains.
Faber Garden Condominium and The Gardens at Bishan will likely see prices soar above S$1,000 per square foot (PSF) as the station will be located in a more secluded area in Bishan.
Over at Lentor (District 26), the mature private estates of Castle Green, Seasons Park, Thomson Grove and Chip Thye Garden could benefit from the upcoming line, a similar case for newer projects such as the Nuovo executive condominium (EC) and The Calrose, a 421-unit freehold project. Housing value for these estates would increase, due to the convenient location and accessibility for commuters as well as residents. Older estates that will likely to also benefit includes Thomson Park, Grandioso 8 and Centurion 12.
Similarly, residential developments around Great World (Districts 9 and 10), Stevens Road (District 10) and Mount Pleasant (District 11) are also likely to have a rise in prices.
The district’s current average rental is around S$2.70 to S$2.90 psf, with rental yields in older estates averaging 4.1 to 4.5 percent.
In addition, sub-sale prices at the district’s newest project – the 122-unit Thomson V Two have reached S$1,454 psf compared to launch prices of just S$900 psf; while prices at sister project Thomson V One; have hit S$1,204 psf from average launch prices of just S$750 psf.
