An old friend told me this today after my talk in Sunway Pyramid. The title of my talk? “Should MRT affect your property buying decisions?” He said, ‘why are there so many people listening to your talk? It’s obvious, they should buy properties next to the MRT stations, right?’ Haha. Anyway, the answer is NO, not necessarily. For a family man like me, with two young kids and a Home Minister wife, I would prefer an integrated development instead plus LOTS of greenery. MRT is to me, secondary. How far or how near the home from the MRT station is of no concern. I am the only one driving to and fro work anyway. My wife drives the kids to nursery and anywhere she like after that without the need to face jams. Within the neighbourhood, within 10 minutes, there should be supermarkets, there should be hospitals and clinics, there should be primary schools and even nice restaurants but I do not need a home next to the MRT!
However, this ‘magical’ word is getting popular. Transit Oriented Development (TOD). This would be homes that have direct connection to the LRT or the MRT or the BRT (if this becomes popular). TOD is not just being connected though. it’s also about lifestyle changes. We can forget about jams, we can reduce our expenses due to parking and petrol and we will always be on time. (usually, anyway). The homes built closer to these TODs may also not have lots of car parks provided because frankly, they are actually not targeted at a 40 plus adult like me. Malaysia’s median population age is currently 29. This is the actual target market. Working professionals who wants to live comfortably and go to work without much hassle; step into one LRT / MRT station and get down from the next one within metres away from their office? That’s the MAJOR POINT. Look at the offices today, the new ones, there are NONE built OUT of these public transportation network. Its suicidal…
Within these three weeks, I have gone to three different projects from three different developers. Their concepts are almost the same! Haha. Modern designed homes; duplex for that awesome feeling of spaciousness due to the 20-22 feet ceiling height. The homes are connected directly to the LRT / MRT or shuttle busses are provided. Two are below 1,000 sq ft but just like any duplex, it’s possible to design it based on our needs and maximise the space available. Then again, as long as there are already 3 rooms provided, it’s enough for many years, even when the single got married and the married have babies. Would people stop driving and fully go into the Malaysians Ride This (MRT) revolution? Perhaps the POLICIES will help to decide. Singapore made it SO EXPENSIVE to buy a car. Hong Kong made it SO EXPENSIVE to park the car in the city centre. Both are extremely successful. Yes, I firmly believe TOD developments are the way forward but not for someone like me; one lovely home minister wife and two naughty kids. Cheers.
written on 17 April 2018
Next suggested article: Which is better for your property investment’s security? MRTA or MLTA?