Property Price Differences Based on Proximity To MRT Stations

Mr Gan Thiam Poh asked the Minister for National Development (a) what is the general price difference between new public housing in (i) suburban and central areas (ii) areas within the proximity of MRT stations and those not within the proximity of MRT stations; and (b) what is the general price difference between new private housing in (i) suburban and central areas (ii) areas within the proximity of MRT stations and those not within the proximity of MRT stations.

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Mr Khaw Boon Wan: The median price of new private housing in the Central Region is 44% higher than that outside the Central Region. This is based on a per square foot basis. For public housing, the prices of 3-room flats in the Central Region average 40% more than similar flats outside the Central Region.

New housing projects, whether public or private, do command a premium if they are in the proximity of MRT stations. The price premium differs from project to project, depending on many factors, such as the precise location and the presence of other amenities, such as schools and shopping centres.

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