MRT Circle Line phase 2 opening set to push property prices up: estate agents
By Maggie Chong, Channel NewsAsia | Posted: 28 January 2010 2008 hrs
SINGAPORE: The opening of the second phase of the Circle Line MRT in April is definitely something to look forward to for residents living nearby. But those looking to sell or rent their homes are set to benefit as well.
Property agents said the opening of the 11 new stations along the Circle Line is likely to push property prices up.
Agents MediaCorp spoke to estimate home prices will increase by 10 per cent while office rents will go up by 20 per cent.
They said estates like Serangoon, Bishan and Paya Lebar have a lot of market potential while units in industrial estates are also expected to be in high demand.
Eddy Ng, division director, ERA Real Estate, said: "Most of the workers are taking public transport, it can be very accessible for them, if there's an MRT line that leads them back home after work." - CNA/vm
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