Hi Tim Pete,
Perhaps the market is placing too much emphasis on MRT stations. It would be peculiar if the government wants to keep property prices stable and yet build more stations to drive prices up.
Being near to transport is only one factor (important, but not all-compassing) affecting property prices. The MRT stations that lead to the second link will cause prices in Jurong West to go up, but unlikely to be the stratopheric rise that some may expect.
There needs to be more infrastructure in the area before the area can truly rise sharply in value. There needs to be better malls (ideally as big as Jurong Point 1 & 2), top primary schools, recreation locations, better bus networks that lead to more places in the city, popular food centres, and so on..
The mrt leading to second link does not mean anything much because there is nothing at secondlink to rave about. It would probably just be more convenient for travellers who want to travel in and out of the two countries.
80% of D15 is not near to MRT stations, but D15 has been the top residential districts for many years running, and the sharpest rise in price outside CBD. It is because D15 has all that a residential district should have - malls, schools, food, buses, proximity to city.
However, I do not mean that Jurong West is not worth investing. I truly believe the potential in this area is great (look at how Lakeside Boon Lay has prospered since Jurong Point 2 and the proposed Lakeside Development). Jurong West will have great potential in the future, but it may be premature to base its future rise due to MRT. It would need more infrastructure, which hopefully the government will do more to improve this area.
Thanks!
Regards,
Richard Wan
Black Diamond Real Estate Group
richardwan@live.com
94363793
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