Living Near an MRT: The Sweet Spot (and the Price Tag)
Picture this: your morning commute is a breeze, you can hop off the bus–or skip it entirely—especially if you’ve got your own car. If you live just a stone’s throw from an MRT station, you’ll be amazed at how easily you can dodge traffic, save on parking fees, and even indulge in spontaneous karaoke nights at the nearest convenience store.
What the Numbers Tell Us (Q2 & Q3 2021 Update)
- Resale HDB flats: The median price per square foot (psf) climbed from Q1 to Q2, then dipped slightly in Q3—still hovering higher than the year‑earlier baseline.
- Resale condo units: A pretty steady upward trend in both Q2 and Q3, with the psf figures nudging up each quarter.
- Why the bump? Proximity to the MRT means higher demand, especially for commuters and those eyeing future resale potential.
Breaking It Down: Q2 vs Q3
- Q2 2021: The median psf for HDB flats saw a modest jump—think of it as a “butterfly effect” where one upgraded train schedule ripples through the market.
- Q3 2021: Prices held their ground with only a slight uptick, suggesting that buyers are comfortable with the premium for that convenience.
Is it Worth It?
While the cost at a glance may look steep, the real deal is the value of time saved. The daily commute can cut your travel time by 15–30 minutes—money that could be spent on latte coffee (or investing in a dividend‑yielding ETF). For those who rely on personal vehicles, the MRT backup is a safety net when the car needs a break.
Bottom line: If you value a quick, hassle‑free journey and can stomach the higher cachet, living near an MRT station is a win.
Stay Informed, Stay Savvy
Keep an eye on these trends—prices for homes near MRTs keep drifting upward, but so does the convenience factor. In the end, it’s about balancing what your wallet can handle with what your lifestyle needs.
Quarter on quarter price increase of HDB resale flats within 1km of MRT stations
HDB Resale Prices: The Inner‑City Rollercoaster
When you hop on the train and peek at the price tags on board the MRT horizon, you’ll find a mixed bag of numbers—no one sure if prices are climbing or dropping. Let’s break it down and see where the money’s actually moving.
City Centre: The Tumble Zone
In downtown Singapore, prices have taken a real tumble. Here are the big hits:
- Promenade MRT (≤1 km): –16.55 % — a sharp dip for the bigger city‑centre properties.
- Shenton Way MRT: –14.95 % — the second‑biggest drop.
- Dhoby Ghaut MRT: –9.64 % — not as steep, but still a notable decline.
Why does it matter? The city‑centre flats started out boasting high price‑per‑sq‑ft (psf). So when they nosedive, the swings look especially dramatic. For example:
- Shenton Way: median psf fell from $921.20 just in Q2 to $783.50 in Q3.
- Dhoby Ghaut: median psf dropped from $705.70 to $637.70.
Where the Prices Are Dipping into the Deep End
Below are the biggest drops seen in HDB resale flats <0 km from an MRT. The numbers can make you feel both sad and relieved at the same time—perhaps a homeowner’s dream or a mortgage nightmare, depending on where you’re living.
- Tai Seng MRT: –26.58 % (the biggest fall overall).
- Promenade MRT: –16.55 %.
- Toa Payoh MRT: –15.33 %.
The Surprising Bullish Hotspots
But hey, not all is gloom‑and‑doom. Some mature estates are thriving again. These are the places where price tags are climbing higher than a kangaroo on a pogo stick.
- Telok Blangah MRT: +25.37 %.
- Eunos MRT: +16.77 %.
- Dalton MRT: +15.63 %.
Except for Tai Seng (on the edge between Hougang and Geylang), the biggest gains and losses are all in the older, beloved estates of Bukit Merah, Central, Geylang, and Toa Payoh. These areas have long been the favourites for Singaporeans looking for a home. Their higher base prices might have caused a “price‑resistance” effect, making drops more pronounced around promo‑central hubs like Promenade and Toa Payoh.
Bottom Line
Neat, right? The city landscape is a financial seesaw: one side slouches while the other leans. The key takeaway? If you’re eyeing a resale, check those mature estates—they might give you the best bang for your buck. And if you’re in the hectic downtown, stay tuned: the market’s a rollercoaster that’s always changing the next 6‑month window.
Quarter on quarter price increase of condo resale units within 1km of MRT stations
Spring 2024: Condo Prices Near MRT Show No One‑Size‑Fits‑All Trend
What’s Happening Near the Trains?
When you look at condos that sit within a kilometer of a MRT line, you won’t find a single pattern for price swings. Instead, the market behaves like a mood‑ringed roller‑coaster that keeps changing its theme depending on which line you’re on.
City Centre – Mostly Rising, Except for One Big Drop
- Generally: Prices in the heart of town are climbing, typically between 2 % and 9 %.
- Except for Esplanade: Units near this station fell hard — a staggering 32.66 % drop from Q2 to Q3. The median price per square foot slid from $2,177 to $1,444.
- Other stations: For the rest of the city‑centre stops, price changes were mild, barely touching $200.
Outer Suburbs – Big Gains Where Everyone Else Is Slumping
- Hougang MRT: Prices jumped 22.49 % and the median topped $1,100 per square foot (up from $898).
- Bukit Gombak MRT: A 10.64 % rise brought the median to $889 (from $803.5).
- Both stations sit in the Out‑City Region (OCR), where baseline prices are lower, so the gains feel even more pronounced.
Largest Losses – The Outliers That Shock the Market
- Boon Lay MRT: Down 35.71 %
- Kallang MRT: Down 35.25 %
- Esplanade MRT: Down 32.66 %
These three slippery spots live in entirely different regions – Esplanade in the Central City Region (CCR), Kallang in the Re‐City Central Region (RCR), and Boon Lay in the OCR. The spread of dramatic falls across the island shows how condo pricing near MRT stations is far from a simple trend.
Bottom Line
A quick look at the numbers reveals that price increases and drops for condos near MRTs aren’t concentrated in one area. While HDB resale flats might follow a more predictable path, condo markets are behaving like a landscape where each station has its own weather.
Originally published on 99.co.
