By Farah Wahida:
The upcoming high-speed rail link project between Singapore and Malaysia is expected to boost property prices in both countries, according to property analysts.
“We believe a high-speed rail link is going to boost the property value not only in Singapore but also in Kuala Lumpur,” said Dr. Yeah Kim Leng, Chief Economist at RAM Holdings Group.
“We expect more foreigners especially in Singapore to commute between Singapore and possibly Johor Bahru and Kuala Lumpur, and buy more properties in Kuala Lumpur.”
Upon completion, the train service will speed up economic integration between the two countries causing spillover benefits to other sectors such as tourism and construction. Moreover, it would improve the political relationship of Singapore and Malaysia, Bernama reported.
“Finally, after 15 years, this development is about to be realised,” said Dr. Nazri Khan, Vice President and Head of retail research at Affin Investment Bank.
“We believe the High Speed Rail is going to give a positive impact on both countries’ economies, especially the tourism and property sectors,” he said, adding that property values could significantly increase once the project nears completion.
The project is expected to be completed by 2020.
Farah Wahida, Editor of PropertyGuru Malaysia, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
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