For every home we buying, there are pros and cons. Let discuss about the MRT/LRT station nearby home pros and cons.
🚈 Property values go up!
Property agents have observed that property prices in some areas along the LRT line extension almost doubled since it was announced. Investors also advise (read more: GoodPlace) that prices of properties will either be flat or even dip during the train station’s messy construction period, but will shoot up once it is ready. In fact, two research papers (read more: ResearchGate) found that properties around LRT stations do experience significantly increased values.
🚈 Rental rates go up!
Many working class people take public transport to work. For them, renting a home within walking distance to a LRT/MRT station would be a big plus point. When there’s high demand, of course it would be the landlord’s market.
The LRT is not just a convenience for working class folks. With the LRT station nearby, even middle class folks have the flexibility to choose whether to catch a train or drive. Sometimes, it is more economical and convenient to just take the LRT instead of driving and putting up with traffic jams and parking problems.
🚈 Traffic jams
Let’s face it – Malaysians don’t like to walk. Most people will drive or take their motorbikes to the LRT station to catch the train, even if it’s only a 10 to 15 minute walk away. So expect heavy traffic around the stations, especially during peak hours.
🚈 Wake up calls and lullabies
LRT/MRT stations start running as early as 6am and end service as late as midnight. How early the noise starts and how late it stops depends on which part of the line the property is located at. But no matter what time it is, the noise will definitely start from early morning to late at night.
🚈 And the view is nothing to shout about
People living in properties facing LRT stations or lines get to see steel and concrete structures, speeding trains and crowds of people all the time, instead of trees and birds.
For conclusion, LRT?MRT station nearby good or bad? It depend on your priorities, for investment or own stay. So make your decision wisely before buying.