The capital values of new and existing residential projects along the upcoming 13 km Thomson-East Coast Line (TEL) could increase by up to 10 percent once the MRT line is completed, according to media reports.
“In our view, residential developments in the vicinity will likely see five to ten percent capital gains, retail malls will benefit from growth in shopper traffic, while office and industrial properties will benefit from improved tenant demand,” said UOB KayHia analyst Vikrant Pandey.
OrangeTee’s Research Head Christine Li shares a similar projection: “Upon completion, properties near the new MRT stations are expected to see higher rentals, which lead to potential capital appreciation.”
These include Water Place, Pebble Bay, Casuarina Cove and Tanjong Ria Condominium near the Tanjong Rhu MRT station, while the Katong Park station will benefit The Belvedere, Meyer Residence, The Waterside and The Line @ Tanjong Rhu.
Amber station could boost the capital values of Aalto, Amber Skye, Amber Point and King’s Mansion, while Marine Parade station could propel the prices at Cote D’Azur, Marine Blue, The Palladium, The Sea View and Parkway View.
D’Saville, St Patrick’s Residences, 70 Saint Patrick’s and Grand Duchess at St Patrick’s could see capital gains thanks to their proximity to Marine Terrace station, while Siglap Station will be a boon for Laguna Park, Villa Marina, Lagoon View and Elliot at the East Coast.
The Bayshore, Costa Del Sol and Bayshore Park could leverage from Bayshore station, while Sungei Bedok station could boost prices at Bagnall Court, Fairmont Condo, Eastwood Lodge and Country Park Condo. Finally, Bedok South station could benefit Kew Green and Kew Residencia (terrace houses).
“For a long time, residents in the East Coast have been relying on buses or private transport. With a new MRT line nearby, travelling time to the Central Business District or to the northern part of Singapore will be shortened significantly,” Li added.
The TEL will be built in two phases. The first seven stations from Tanjong Rhu to Bayshore is expected to be completed by 2023, while the two stations in Bedok South and Sungei Bedok will be ready in 2024.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
