The newly opened section of the Sungai Buloh-Kajang MRT line to generate interest.
Demand and values are expected to increase due to the opening of the Sungai Buloh-Kajang MRT line last week. Starting in Kuala Lumpur’s north west corner and running to Kajang in the south east of the city before passing through the city centre, the partial opening of this MRT line is expected to generate a flurry of activity as investors capitalise on this improved connectivity.
The section of the line that has opened if from Sungai Buloh to the Semantan station in Damansara. The underground station in central Kuala Lumpur is set to open in July 2017 along with the remainder of the second phase of this MRT line that includes 31 stations covering a distance of 51 kilometres.
Properties in close vicinity to mass transit networks in cities across the world always perform well. Tenants seeking to rent a property want to have the convenience of this transport nearby so generally rent quickly and generate a healthy rental yield. Additionally their capital appreciation increases too. Kuala Lumpur is no exception to this particularly as new mass transit networks offer an efficient and reliable service to their users.
Chang Kim Loong, secretary general from the National House Buyers Association commented, “Property owners stand to enjoy the higher capital appreciation that comes with enhanced connectivity.” Also citing that it is important that investors seek properties that are built by developers with a good track record and reputation. Many developers use the opening of the mass transit network as part of their marketing in a bid to attract investors.
The areas along this new route that have been earmarked for growth are those which are not already congested to avoid the numbers of people parking close by the MRT who generate noise pollution and reduce privacy for residents. However areas such as Mutiara Damansara, Kota Damansara and Bandar Utama are forecast to generate higher price tags as these commercial areas have shopping centres and other amenities that investors are drawn to.
