The below article was first published in The Straits Times on 9 October 2011. It came to mind again recently as I’ve been contemplating the perceived versus actual benefit of MRT proximity. Many list “must be close to MRT” as a house hunting criteria, but I believe this blanket rule sometimes means missing out on some great accommodation options. Freehold homes in River Valley have transacted at lower prices than leasehold homes in Bishan recently, perhaps partly due to the false perception that you’ve got to be near an MRT to enjoy good accessibility.
Published on Oct 9, 2011
By Joyce Teo
Residents living along the newest stretch of the Circle Line can finally rejoice now that the trains have started running but property owners have already reaped the benefits of the so-called MRT effect.
Put simply, being near an MRT station can make a clear difference to real estate values.