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Monday, 17 July 2017

(The Star) Homeowners and property gurus expect prices to soar

PETALING JAYA: Property experts and homeowners are upbeat over the long-term impact of the MRT Sungai Buloh-Kajang (SBK) line on existing and new developments.

Thomas Chooi, who rents out units in Glomac Damansara, is confident of getting more rental income besides an overall increase in the value of his property located near the SBK line.

He pointed out that people don’t want to get stuck in traffic jams and would pay more for the conve­nience of being near an MRT.

“The MRT will help improve demand for those wanting to rent or buy nearby,” he said.

Landlord Sam Liew from TTDI Ascencia is also optimistic house prices there will increase.

“I am definitely expecting a sharp rise. The MRT is right opposite my house,” he said.

Hartinee Ibrahim said demand for the rooms she rents out in Kajang has increased.

She said the shophouse she owns is located just 10 minutes from the Kajang MRT station.

A property manager, who de­clined to be identified, said property prices near the SBK line have the potential to increase by as much as 15% within the next nine months.

Communications specialist in the property industry, SC Woo also believes there will be an appreciation in the long term.

“Typically these will be in areas where universities are located,” she said, adding that however, the MRT lines will not increase the prices of property considerably in the short-term.

Property investor, KM Lee said he expected a gradual increase in property value.

“Since the announcement of the MRT line development in the early 2010s, the market price had factored in the appreciation throughout the years,” said Lee from Petaling Jaya.

An established property develo­per in Selangor, who did not wish to be named, pointed out that other cities such as Hong Kong and Singapore saw between a 10% and 15% increase in the value of property.