3 Infrastructure Developments That Can Transform Property Prices In Malaysia
When it comes to finding a home, keeping an eye out for upcoming infrastructure development is key, as it’ll help with house valuations in the long term. This list will help you figure out which are some of the recent noteworthy ones!
Imagine the amount of time and resources that will be wasted when people are stuck in massive traffic jams and/or are forced to travel great distances just to get from home to office!
Economic growth is a key reason why governments are incentivised to properly plan the interconnectivity within cities, as well as to the outskirts, and across international borders.
Being able to easily get to work enables us to support ourselves and pay our taxes, which goes into building better infrastructure for the future; leading to even more growth and prosperity for the people.
Infrastructure Development For TheRakyat
Transport infrastructure is one of the many main variables that transforms the desirability of an area, and also has an effect on house prices.
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Apart from the convenience of living close to a train station or transportation hub like KL Sentral, property prices can further increase with the development of shopping malls or commercial lots in the vicinity, all while creating job opportunities.
It is also a lucrative prospect for homeowners looking to sell their strategically-located property and turn a profit, down the road.
Will Transportation And Connectivity Still Be As Important Post COVID-19, With The WFH Movement Growing?
In an increasingly digital world, we have to remember that not everything can be done remotely or virtually. Imagine a brain surgery without the precise and instinctive skills of a surgeon!
The worldwide lockdown throughout 2020 (and from what we can see, 2021 as well) severely damaged the global economy, as most of the essential sectors were forced to close.
Despite many industries quickly switching to the digital route and the WFH movement growing, the need for skilled workers, like doctors and engineers, to commute and attend to matters in person remains high.
The need for people to commute will only be strengthened post-pandemic. With a lot of pent up demand to travel, greater connectivity will play a vital role in reviving multiple sectors (particularly tourism!), which will undoubtedly have a positive effect on the economy.
Be A Savvy Homebuyer!
For the property hunter who has done his/her research as well as understands the social and economic needs for greater connectivity, knowing about upcoming transportation projects will give you a clue about property developments worth your hard-earned money.
Interested in buying a home that will not only allow you to get to places quickly, but will give you a good valuation on your property in the future thanks to the excellent connectivity?
It’s time to take a look at this list of infrastructure developments we’ve compiled, so that you can find a suitable property nearby that might just be up your alley:
1) Johor Bahru-Singapore Rapid Transit System (RTS) Link
With a total journey of 4km or 6 minutes, and crossing the Straits of Johor via a 25m-high bridge, The RTS Link will connect passengers between Johor’s Bukit Chagar station and Singapore’s terminus in Woodlands North by end-2026.
This train service will help ease Causeway congestion and improve connectivity. It has the capacity to serve up to 10,000 commuters during peak periods, for every hour, in each direction!
For seamless immigration clearance, passengers travelling in either direction will clear both Singapore and Malaysian authorities at the point of departure. Passengers need not go through immigration clearance again at the point of arrival (phewww).
Properties of interest in this area:
- Semi-detached/cluster houses in Bukit Chagar
- Terraced homes/Link houses in Bukit Chagar
- Condominiums/Apartments in Bukit Chagar
2) Iskandar Malaysia Bus Rapid Transit (IMBRT) project
Can you imagine sitting in a bus that runs on clean energy and navigates autonomously, using smart sensors to read virtual tracks on the road?
This technology, known as automated rapid transit (ART), is currently being piloted in Johor Bahru as part of a comprehensive transit system for Iskandar Malaysia!
The multi-carriage vehicles can travel up to 70km per hour, carrying more than 300 passengers with three carriages, or approximately 500 passengers with five carriages.
The pilot project, together with a technical feasibility study by the Malaysia Institute of Transport (MITRANS), will be important in helping us understand and improve public transportation in Iskandar Malaysia, on top of promoting economic development in the country.
Properties of interest in this area:
- Bungalows/Villas in Iskandar Malaysia
- Semi-detached/cluster houses in Iskandar Malaysia
- Terraced homes/Link houses in Iskandar Malaysia
- Condominiums/Apartments in Iskandar Malaysia
3) Klang Valley – LRT3
Stretching a total of 37 kilometres, the LRT3 aims to connect two million people within the Western Corridor of Klang Valley, from Bandar Utama to Johan Setia, by the year 2024.
Along the LRT3 lines are two integrated stations designed to provide better connectivity to passengers, offering interchanges between existing rail systems.
Station 1 will be integrated with the MRT Sungai Buloh – Kajang Line at Bandar Utama, while station 7 will be integrated with the LRT Kelana Jaya Line at CGC-Glenmarie.
The LRT3 project is the first rail project in Malaysia to use world-class U-trough technology, which allows for components of the construction to be pre-cast, helping accelerate the entire construction process.
Properties of interest in this area:
- Bungalows/Villas in Bandar Utama
- Semi-detached/cluster houses in Bandar Utama
- Terraced homes/Link houses in Bandar Utama
- Condominiums/Apartments in Bandar Utama
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As a means of preserving, or even increasing the value of your home down the road, why not choose a property with easy access to any form of public transportation?
Not only that, it makes a lot of sense to fully utilise the excellent infrastructure that our taxes are contributing towards.
With the threat from COVID-19 slowly edging away and we look to rebuild our economy, good transportation infrastructure will be the key enabler to ensuring how fast and how well we rebuild, together as a nation.
