So unless you’ve been living under a rock this whole time, you’d probably already know our newest MRT line – the Thomson-East Coast Line (TEL) – has been progressively opening over the past two years or so. With an additional 11 new stations set to open on 13 November, this brings the total number of open stations to 22, with the remaining 14 stations scheduled to open from 2024 and beyond.
With all these new stations opening, this would undoubtedly have a net positive effect in terms of property value, especially for properties with a TEL station opening nearby. After all, a new MRT station would mean more connectivity options, and thus serving as a great selling point when it comes to assessing a property’s overall value.
Which TEL stations are already open?
Just to jolt our memory, here’s the complete TEL network that starts from Woodlands and ends in Bedok.
Image credit: LTA
Right now, the stations between Woodlands North and Caldecott are already open, and the next phase of opening on 13 November this year will involve the stretch starting at Stevens right up to Gardens By the Bay. However, two stations – Mount Pleasant and Marina South – won’t actually be open yet, as they are scheduled to only open when the various public housing developments in their vicinity are open.
Once the TEL is fully completed, it’ll provide greater convenience and connectivity for the many Singaporeans that live along this stretch. Even if you live in the far North of Singapore that is Woodlands, or way due East in places like Bedok, getting to the CBD and city centre will be a breeze thanks to the TEL, by saving you valuable commute time.
Based on our preliminary assessment of the locations of the various TEL stations, here’s our take on 4 existing HDB estates that are near already open or soon-to-open stations, that might appreciate in value over time.
1. Woodlands
One estate that would have really enjoyed the indirect benefits of the TEL’s opening has to be Woodlands.
In the past, Woodlands has always been perceived to be super ulu and not a very favourable place to live at unless you’re working in the industrial estates nearby, or are a Malaysian. It’s kind of like the stopover you make before journeying onward to Malaysia.
Image adapted from: Google Maps
However in recent times, Woodlands has really stepped up its game by leaps and bounds, with new malls sprouting up and also redevelopment projects to rejuvenate the estate. Greater connectivity options – such as the opening of the new Woodlands Integrated Transport Hub, and of course the TEL – has been a key selling point of residential properties in the town, resulting in an overall net positive effect on property value. We also have had a million dollar HDB in Woodlands!
The New Woodlands Integrated Transport Hub that opened in June 2021.
Image credit: Wiki
Based on the median resale price data provided by the HDB, we can observe a pretty stable increase in the median property price of Woodlands resale HDB flats over the years:
Once the TEL fully opens in the next few years, those living in Woodlands will be able to conveniently zip down to the downtown CBD area, Gardens by the Bay or even to the East. On the whole, we’re sure Woodlands is sure to benefit from the TEL, and anticipate higher property prices in the future.
2. Ang Mo Kio
While Ang Mo Kio is already one of the highly regarded and highly sought after estates to call home, the opening of the TEL will further add to this demand, leading to a rise in property prices.
Unlike Woodlands, there isn’t a TEL station integrated with the existing station along the North-South Line. However, the already open Mayflower and Bright Hill stations are located in the Ang Mo Kio precinct, linking up the fringe areas of the estate with the rest of Singapore.
For these areas, residents would have previously had to take a bus ride in order to access the MRT, and we reckon that this slight inconvenience would have factored into their prices. However now with the rail network at their doorstep, these fringe Ang Mo Kio properties would now be able to benefit more from it; and conversely, a potential for property value to go up.
Dragon Playground in the Heartlands of Ang Mo Kio.
Image credit: TheSmartLocal
3. Bedok
Image credit: TheSmartLocal
Moving over to the yet to open side of the TEL, the mature estate of Bedok would be another HDB that will benefit from the TEL, in terms of property prices. Note that both the Bedok South and Sungei Bedok stations will be last to open, set at around 2025.
Image credit: Land Transport Guru
Just like Ang Mo Kio, Bedok is a fairly large estate. While those living near to Bedok Central would benefit from the plentiful public transport options (e.g. Bedok MRT), those living further would have the additional inconvenience of taking a bus in order to get to the nearest MRT station, Bedok or otherwise.
With the new TEL station – Bedok South – coming up at the junction of Bedok South Road and Upper East Coast Road, residents living in the Bedok South area would be able to benefit from having closer MRT access.
Image credit: LTA
There will also be another TEL station opening in the Bedok estate, called Sungei Bedok. It will be situated just further down the road from at the corner of Upper East Coast Road and Bedok Road, near where Bedok Camp and Laguna Country Club currently is.
Bedok Camp
Image adapted from: Google Maps
Undoubtedly, this would all be beneficial in terms of property prices of properties in Bedok. Apart from just connecting the fringe areas of Bedok together with the TEL network, Sungei Bedok will also be an interchange with the Downtown Line, and so residents will be able to easily commute to other places of Singapore without much hassle.
4. Marine Parade
Last but certainly not least on our list of HDB estates that might appreciate in value thanks to the TEL would be Marine Parade, which is yet another estate that joined the club of million-dollar resale HDBs in 2022. Just like Bedok South, the Marine Parade TEL station has yet to open; based on the LTA’s projections, it will be open sometime in 2024, along with 7 other stations.
Image credit: Land Transport Guru
The new station will be located right at the heart of the Marine Parade estate itself, next to the Marine Parade Central precinct and next to famous places like Parkway Parade and the Marine Parade Public Library.
Image credit: @veryseriousfun
Once built, residents will be able to enjoy having the benefits of an MRT station connecting them to other places around Singapore, as compared to present times where they would have to either catch a bus, or travel to the nearest MRT stations at Dakota, Mountbatten or Paya Lebar.
Apart from just Marine Parade residents alone, another benefit of having an MRT at the central area itself is that it will bring more Singaporeans to Marine Parade.
As we all know, one of the biggest draws of Marine Parade is the proximity to East Coast Park. With the TEL opening up, this would essentially mean greater footfall to Marine Parade itself, resulting in a more vibrant and bustling estate. With this ‘new’ life and rejuvenation, Marine Parade will see a transformation of sorts, which will definitely lead to an appreciation of property value.
HDB estates with TEL stations
With over half of the TEL network open by the end of this year, one undeniable benefit that we can all enjoy, regardless of where we live, is greater accessibility to the various places around Singapore, thanks to our wide and extensive rail network. In addition, the TEL brings about much value to the selling points of the various HDB estates that it covers, especially for the slightly more ulu and harder-to-access estates like Woodlands, Bedok and Mayflower.
As we’ve seen from the many property ads online, the proximity to an MRT station is unmistakably one major selling point for properties, and we’re certain these 4 estates that we’ve outlined will be beneficiaries of the TEL network in their vicinity.
Read our other articles here:
- Where are all the HDB Executive Maisonettes in Singapore?
- Cheapest resale flats under $350K
- Most affordable places to rent in Singapore
Cover image adapted from: TheSmartLocal, @veryseriousfun
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