Fact or Fiction: Do ECs Near To MRT Gain More Value?

January 3, 2020

The MRT is an essential part of life in Singapore. Many use it as their primary mode of transport in their daily commute back and forth from work, school and play. The MRT also plays in important part in property prices. Properties that are located closer to the MRT enjoy greater convenience, and are also in greater demand from tenants.

As such, the general perception is that properties situated closer to the MRT enjoy better appreciation in price value because it can command a premium for the convenience that it offers.

But is this really the case?

In this article, we take a look at the actual transactional data for 4 EC developments and see if proximity to an MRT station really makes a difference in price appreciation.

Section 1: ECs NOT Near to MRT

Let’s begin our analysis with 2 ECs that are not near to an MRT station.

The Canopy Executive Condominium

The Canopy is an EC completed in 2014, with 406 units, situated at Yishun Avenue 11.

It is located approximately 1.58km from the nearest MRT, Yishun Station.

From its launch period till date, prices have gone from $651 psf to $809 psf, or a 24% increase in price, over a span of 5 years.

Notably, out of 54 profitable transactions, the highest amount of profit thus far is $262,000.

RiverParc Residence Executive Condominium

Next is RiverParc Residence, an EC also completed in 2014, with 504 units, situated at Punggol Drive.

It is approximately 1.89km from the nearest MRT, Punggol Station.

On a similar thread as The Canopy, prices have increased by 24% since its launch period, going from $713 psf to $885 psf, over a span of 5 years.

Out of 40 profitable transactions thus far, the highest amount of profit is at $336,000, higher than The Canopy’s at $262,000.

Section 2: ECs Near to MRT

Now we take a look at EC developments that are located closer to an MRT.

Esparina Residences Executive Condominium

The Esparina Residences was completed in 2013, with 573 units, situated along Compassvale Bow.

It is located approximately 360m walking distance from Buangkok MRT Station.

From its launch till date, Esparina has experienced a 49% price increase, from $767 psf to $1,144 psf, over a span of 6 years.

It is important to note that the price remains on an upward trajectory past its 5-year MOP period.

Out of the 140 profitable transactions, the highest profit is at $651,000, which is more than twice The Canopy’s highest profit at $262,000, and almost twice RiverParc’s highest profit at $336,000.

Prive Executive Condominium

Located at Punggol Field, Prive is an EC completed in 2013, with 680 units.

It is situated approximately 480m away from the nearest MRT, Punggol Station.

Its prices has seen as 42% appreciation, from $691 psf to $986 psf, over a span of 6 years.

Out of its 159 profitable transactions, the highest profit stands at $502,100, which although is lower than Esparina’s, is still higher than The Canopy and RiverParc.

In Summary

Looking through the data that we have presented so far:

ECs not close to MRT
- The Canopy: 24% price increase, over 5 years
- RiverParc: 24% price increase, over 5 years
ECs close to MRT
- Esparina: 49% price increase, over 6 years
- Prive: 42% price increase, over 6 years

We can observe that there is a very strong relationship between price appreciation and proximity to an MRT Station.

If you’d like to know which are the ECs worth making a purchase, reach out to us today.