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Positive Impact of LRT

Property values to rise when project rolls out,


says expert

BY DAVID TAN, TAN SIN CHOW, CHRISTOPHER TAN, ANDY


LO AND R. SEKARAN



PHOTOS BY ZAINUDIN AHAD, GARY CHEN AND ZHAFARAN NASIB

THE value of property in Penang will be enhanced


when the first light rail transit (LRT) line is completed in five to six years.

Zeon Properties chief executive officer Leon Lee


said in his talk on 'Penang Infrastructure: The Key Factor of Property


Investment' that the first LRT line was planned to link Komtar and Bayan Lepas.

"We can expect the housing projects along the LRT


line and the new bus routes to appreciate.

"The LRT will be supported by an improved bus


system and as well as trams, according to the state government's plan.

"As the LRT cannot go door to door, the buses will


provide the last mile interconnectivity to the housing estates," Lee said


during the Star Property Fair 2014, organised by Star Publications (M) Bhd with


Zeon Properties as the event partner.








































He added that infrastructure played a vital role in


determining a property's value.

"For example, the prices of property in Batu Maung


increased significantly after the announcement that the second Penang bridge


would be opened to traffic.

"In 2007, a terrace house in Batu Maung was worth


about RM700,000. But now, a similar unit is priced at RM1.4mil," he said.

In his talk on "The Future of Penang Property', Ho


Chin Soon Research Sdn Bhd researcher Ishmael Ho said that although the second


bridge was new, he still recommended buyers to look into property near the


first bridge.

"With factories and eateries near the first bridge,


the place will prosper faster," he said.

"Areas around the second bridge will take about 10


years to become developed," he said.

GM Training Academy chief executive officer and


founder Miichael Yeoh recommended property in new townships such as Batu Kawan.















































































"Within five years, once factories, retail outlets


and education hubs step in, property will bloom there," he said in his talk on 'Penang Property Outlook & Strategies'.


October 28, 2014
Source: http://www.starproperty.my/index.php/articles/events/positive-impact-of-lrt/
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