Property buyers searching for long-term capital gains are on the lookout for good investments near the Thomson Line (TSL), as the project will likely contribute to a hike in property prices within a 500-m radius.
While some estates are already well-positioned to benefit from the new line, there are still a number of vacant land parcels near the stations that could be developed into commercial and residential projects.
“This is part of our strategy to provide commercial space outside the central area and bring jobs closer to homes,” said a spokesman from the Urban Redevelopment Authority (URA).
In particular, sites around the new Woodlands station will be developed to further transform the area into a regional centre, resulting in more opportunities for industrial and commercial property investments.
“With the plans to enhance transport links to the north like the new Thomson MRT Line and the North-South Expressway, we are planning for new commercial developments at the Woodlands Regional Centre to be staged in tandem with the development of transport infrastructure,” added the spokesman.
Chia Siew Chuin, Director of Research & Advisory at Colliers International, noted that there is a good chance that sites near the station will be developed into mixed projects, such as those being built in Jurong East.
Alan Cheong, Head of Research at Savills Singapore, added that the area north of the planned Woodlands North station has been earmarked for a residential development, but is still subject to detailed planning.
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