How do MRT stations affect house prices? Are house prices much lower further out you go from the city than when you are nearer?
I chanced upon the following few charts produced by SRX and found that some insights could be gained when location data combined with house prices was visualized in a manner that facilitiates a certain way of thinking.
In summary, prices further out from the city (Raffles Place, City Hall, Bayfront areas) get progressively lower, which is to be expected, until they are about 40-50% of that in the city. While people intuitively know prices further out are lower, I’ve not seen an average figure or anything graphical put out.
This post will seek to show that.
As an example, if per sq ft prices in the central areas were S$2000 psf for example, those in far out areas like Pasir Ris, Bukit Batok, Woodlands will …