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Thread: Thomson Line station by station impact analysis

  1. #1
    Join Date
    Mar 2012

    Default Thomson Line station by station impact analysis

    Check out how the upcoming Thomson Line impacts on property projects nearby

    Old condos in Sin Ming station will likely see prices breach SGD1,000psf.

    Here's from MayBank KimEng Research:

    Lentor – Phase 2 – District 26

    The designated location is a 15-minute walk from Yio Chu Kang MRT station on the North-South line. It is concentrated with old private estates, such as Chip Thye Garden, Thomson Grove, Seasons Park and Castle Green.

    Newer projects include Nuovo, an Executive Condominium, and MCL Land’s The Calrose, a 421-unit freehold private project which received its TOP in 2007. YTD, 13 transactions have taken place there, with averaged selling
    prices of SGD1,080 psf. As for rental costs, the district’s median rental is SGD2.7-2.9psf, with rental yields at older estates averaging 4.1-4.5%.

    Sin Ming - Phase 2 - District 20

    Sin Ming Station will be situated at the more neglected side of Bishan. Sky Habitat has set record-high prices with
    ASP of SGD1,608 psf on a 99yr leasehold. We see older condos directly opposite from the station to see the most
    value-added. For example, The Gardens at Bishan and Faber Garden Condo will likely see prices breach SGD1,000psf.

    Upper Thomson– Phase 2 – District 20

    Upper Thomson is one of the most anticipated stations. The latest news in the area is the Bright Hill Drive site,
    released this August. HDB has awarded United Venture Development, a joint venture between Singapore Land and UOL, a 99-year leasehold plot for SGD291.5m. The site is expected to yield 405 units, with an estimated land and breakeven price of SGD720psf ppr and SGD1,110psf respectively.

    In the surrounding area, older estates are largely freehold projects such as 3BHC, Centurion 12, Grandioso 8, and
    Thomson Park. The newest project is Macly Group’s Thomson V Two, a freehold project comprising 122 units
    expected to TOP this year. Subsale transactions have reached SGD1,454psf compared to launch prices of
    SGD900psf. Its sister project, 99-year leasehold Thomson V One, was granted TOP in 2007. Latest transaction prices have reached SGD1,204psf compared to average launch prices of SGD750psf.

    Mount Pleasant – Phase 3 – District 11

    Situated in the middle of the Old Police Academy, the station will be right next to the PIE. Just across the highway are clusters of landed estates and several upand-coming boutique developments. Last year, Whitley Heights received an enbloc offer for SGD159m or SGD1,222psf from Hoi Hup Realty. It was the largest freehold plot in the prime central district in excess of 100,000 sq ft zoned for mixed-use development. Another site at Whitley, Villa Des Flores, a 41-unit condo now up for enbloc sale, is asking for SGD160-165m, or SGD1,533-1,581psf. The site can be used for a mixed development. It will likely be hotly contested by small developers as it lies in the Central
    Region, and will not be subjected to the latest clampdowns on ‘shoebox’ dwellings.

    Stevens – Phase 3 – District 10

    Already an MRT stop for the upcoming Downtown Line, Stevens road residential area may have already priced in
    a MRT premium. Last year, Sing Holdings proceeded with an enbloc combining Robin Court, Robin Star, and
    One Robin, for a total of SGD176.3m, or SGD1,302psf.

    Projects to be completed include Loft@Stevens, White House Residences, The Glyndebourne, and Cyan.

    Great World – Phase 3 – District 9-10

    River Valley probably has the greatest concentration of private residential properties. However, contrary to
    widespread belief, it is actually slightly difficult in terms of transportation accessibility despite being walking
    distance to Orchard Road. Great World City will enjoy a boost in consumer footprint, which will likely firm up
    selling prices in the vicinity. A few of the failed enbloc projects may have another go, as the new station would
    enhance property values.

    from sbr

  2. #2
    Join Date
    Feb 2011


    New MRT line is always inflationary because sellers will adjust price up 10-15% immediately even though opening of line is still like donkey years ahead

    This will in turn push up those near existing MRT lines by 5-10% as rental yield will improve when tenants try to escape the noise/dust of construction along new line

    Would we have next CM? China is doing a good job I must say ...
    Ride at your own risk !!!

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