Tuesday, September 25, 2012

Thomson Line spells boom for nearby properties

Singapore’s upcoming Thomson MRT Line (TSL) is expected to boost housing prices in nearby projects. In particular, older condo projects directly opposite Sin Ming station could see hefty price gains, according to MayBank KimEng Research.

Faber Garden Condominium and The Gardens at Bishan will likely see prices go above S$1,000 psf as the station will be located in a more secluded part of Bishan.

Over at Lentor (District 26), the mature private estates of Castle Green, Seasons Park, Thomson Grove and Chip Thye Garden could benefit from the upcoming line, a similar case for newer projects such as the Nuovo executive condominium (EC) and The Calrose, a 421-unit freehold project.

Currently, the district’s median rental is around S$2.70 to S$2.90 psf, with rental yields in older estates averaging 4.1 to 4.5 percent.

Meanwhile, prices of homes near the Upper Thomson station in District 20 could soar due to its close proximity to one of the most hotly anticipated stations.

Older estates in the district that will likely benefit include Thomson Park, Grandioso 8, Centurion 12 and 3BHC.

Moreover, sub-sale prices at the district’s newest project – the 122-unit Thomson V Two have reached S$1,454 psf compared to launch prices of just S$900 psf; while prices at sister project Thomson V One; have hit S$1,204 psf from average launch prices of just S$750 psf.

Similarly, residential developments around Great World (Districts 9 and 10), Stevens Road (District 10) and Mount Pleasant (District 11) are expected to see the same upward trend in prices, added MayBank KimEng Research. 

View the original article here

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