It has been estimated that Jurong property prices are set to rise by up to 5% once the High Speed Rail terminal for Singapore-Kuala Lumpur has completed its construction. A few agents have shared that there has already been a 1% rise upon last week’s announcement regarding where the new terminus would be located.
Jurong Property Prices to Increase
It won’t be until after 2020 that the High Speed Rail terminus for Singapore-Kuala Lumpur will be ready and open to the public. However, the impact is already being felt in the Jurong area where property prices are concerned.
Jurong has been contracted to become a second Central Business District for Singapore with many analysts expecting to see the area draw in more schools, entertainment and manufacturing companies.
More Looking at Jurong Properties
Associate director of property for Orange Tee agency. Ms Susan Mariam, has advised property owners that they should hang on to their properties for now. She explains that with regard to buying and selling property, more sore for those sellers with Jurong based property, it would be beneficial for them to hold on to their properties for seven years once everything has settled down.
Ms Susan Mariam further advised that, those who are seeking to purchase property in the Jurong area as a result of the announcement should do so now. For buyers wanting to take action in light of this recent development, Ms Mariam feels it is better to get what you are able now, rather than wait a couple of years for Sol Acres Executive Condo.