Property near MRT in Malaysia are highly sought after because of the convenience of connecting to all the major business and attraction hubs in the Greater Kuala Lumpur.
The Klang Valley Mass Rapid Transportation MRT is a modern urban railway that is part of the integrated rail network that connects the city of Kuala Lumpur with the suburbs and cities surrounding it. Comprising of two lines starting from Sungai Buloh to Kajang; and line 2 from Sungai Buloh to Serdang and to Putrajaya, properties that are within walking distance of the MRT stations are able to fetch a higher value in terms of rental as well as for sales. Property developers with land banks near to these stations has developed integrated residential, shopping mall and commercial centers to capitalize on the upcoming surge of human traffic in those areas. The demand and supply of property near MRT is ample for now, however you would expect to pay a premium for property near MRT for now.
Property buyers and renters would prefer property near MRT stations because of the below reasons :-
Convenience to destinations along the Klang Valley MRT line
Living in properties within 500 metres from any of the MRT station will be highly beneficial because of the ease of commuting from home to anywhere within the city. This means access to city centre, business hubs, commercial areas, shopping malls and even to the rail network that connects to the KLIA airport.
Capital appreciation for property owners
Properties within 500 meters from the MRT station will potentially fetch a higher appreciation because of the higher demand for properties near MRT stations. Property buyers will also be expected to pay higher per sq ft prices for property near MRT compared to the surrounding properties that are further from the stations.
Center of potential growth
The MRT station will bring more developments to the area and its surroundings, thus increasing the commercial attractiveness of the properties. This will in turn result in potential increase in valuation of property near MRT stations.
Properties in higher demand
Properties which are near to the Klang Valley MRT stations will be of higher demand as most urbanites will choose to have alternative transportation that comes along with the property. Living near MRT station will give people an opportunity to avail the high tech public transportation that MRT has to offer, on top of the integrated connectivity with the central business district (CBD) and the suburbs around it.
As an important element of the Klang Valley’s integrated rail network, the MRT will change the property landscape and increase price & demand of the property near MRT stations.