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Singapore-Malaysia rail link to push property prices
2013-02-22 10:48:42

The upcoming high-speed rail link project between Singapore and Malaysia is expected to boost property prices in both countries, according to property analysts.

“We believe a high-speed rail link is going to boost the property value not only in Singapore but also in Kuala Lumpur,” said Dr Yeah Kim Leng, Chief Economist at RAM Holdings Group.

“We expect more foreigners especially in Singapore to commute between Singapore and possibly Johor Bahru and Kuala Lumpur, and buy more properties in Kuala Lumpur.”

Upon completion, the high-speed rail link will speed up the economic integration of the two countries, causing significant spill-over benefits to other sectors such as tourism and construction. Moreover, it would also improve the political relationship of Singapore and Malaysia, reported Bernama.

“Finally, after 15 years, this development is about to be realised,” commented Dr Nazri Khan, Vice President and Head of retail research at Affin Investment Bank.

“We believe the High Speed Rail is going to give a positive impact on both countries’ economies, especially the tourism and property sectors,” he noted, adding that property values could significantly increase once it nears completion.

Moreover, plans for the Malaysia-Singapore high-speed rail link started in 1997 and is expected to be completed by 2020.