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This RM100 is positive for the property market.

Posted in HSR MRT n other Ts

Some say they prefer to drive because it’s only very slightly more expensive than taking the LRT / MRT or public transport. It’s arguable because typical monthly parking in KL should be RM250 or higher. It is definitely untrue come 1st January 2019. The 30-day unlimited Rapid bus and rail pass will be available to Malaysians. The 30-day unlimited pass comes in two versions. The RM100 pass can be used on all Rapid Rail services, including LRT, MRT, Monorail, the Sunway BRT service as well as all Rapid buses, including the MRT feeder buses. The RM50 pass applies only for unlimited travel on all Rapid bus services in the Klang Valley. There’s no way drivers could beat this RM100 monthly pass yeah.

Our Transport Minister Anthony Loke said, “The usage of this unlimited Rapid bus and rail pass is limited only to Malaysians. Therefore, users can only subscribe to the pass using their MyKad or MyTentera identification cards.”  He added, “Users can start registering for the pass in December, and it can be utilised from 12.01am on Jan 1. So if you are out celebrating the New Year’s countdown, you can already use the pass to travel back home.” The more Unlimited Travel Pass users, the better it will be for the government due to economies of scale. (In brief, one person taking the train will incur the same cost as 100 persons within the same train) This pass does not apply to KTM Komuter because it has different cost and ticketing service. Article in theStar here. 

This is good news to the property market. Users can actually choose to stay further too because the properties are cheaper when it’s further. As soon as we see the number of users increase significantly, we should see property transactions for areas nearby these stations to increase. Hopefully property prices remain almost the same since there are now by far more property choices nearby the stations. In other words, the supply is now expanded too. Now the ball is in Malaysians’ court. Change lifestyle, save more money and perhaps a home sweet home upgrade once we have enough downpayment savings. Happy travelling cheaper.

written on 4 Nov 2018

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