Whether you intend to buy a residential property or commercial property in the near future, it’s best to be sure that the property stands to improve, in terms of value and desirability.
So, if you’re searching for a new property purchase, why not consider a property that near to LRT and MRT stations? Let’s look at some of the pros and cons first, so that you will be able to make a better-informed decision.
Pros of Living Near LRTs and MRTs stations
High Rental Yield
Easy to Find Tenant
Convenient and Save Time
1. Value Appreciation
Property prices in some areas along the LRT and MRT station almost doubled since it was launched. Also, LRT and MRT station creates a high flow of people, if you open a shop or business there, it will creates many business opportunities.
On a rough average, there can be an increase in value of 10% to 20%, compared to those areas which are far from the transport hub.
2. High Rental Yield
A lot of working adults take public transport to work. For them, renting a home within walking distance to a LRT or MRT station would be a big plus point. When there’s high demand, of course it would be the landlord’s market. Hence, rental rates goes up!
3. Easy To Find Tenant
If your property looks good, tidy, and comfortable, you’ll find that your property would be able to get a tenant. Even though you did not post online. Because the location is good, near to LRT or MRT station, the renter will choose your unit instead of far from the stations.
4. Convenient and Save Time
Klang Valley (Kuala Lumpur and Selangor areas) mostly have heavy traffic jams. So, many of them will decide to take LRT or MRT to go somewhere else.
p.s.: People who are on the lookout for a place to live will usually prioritise convenience over other factors.
For example, if you take the LRT from Bangsar station to Pasar Seni station, it will only be a 5 minutes journey. However, if you were to drive instead and there was a traffic jam, it could take you up to 20-30 minutes or 1 hour sometimes, for the same route!
5. Center of Potential Growth
The MRT station will bring more and more new developments to the area and its surroundings, thus increasing the commercial attractiveness of the properties. As a result, it has a huge potential increase in valuation of property near MRT stations.
If you are looking to purchase properties, you should seriously consider a property near LRT or MRT for potential appreciation value in the future.
But, apart from looking at the ease of connectivity brought about by living near a train station, you’d also need to consider if the developer is a reputable one or not and also consider the price, whether it falls under your budget.
If you are looking to buy or to invest in property, contact us for more information and guides!
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