The Cross Island Line (CRL) which will become the eighth MRT line in Singapore was announced with much fanfare. There has been a lot said about what effects this will have on commuters, developers and property owners.
Here we tell you exactly what the CRL is, where it will go and what effect it will have on property prices on the island.
Some Facts about the Cross Island Line
The entire project will be approximately 50km in length and is scheduled to be completed in 2030. The line will be the longest in Singapore, linking Jurong in the west with Changi in the east. On completion, the CRL will take Singapore’s MRT network to 360km.
The first phase of the project will start early in 2020 and will run between Aviation Park and Bright Hill. This phase will be completed by 2029, will be 29km long and will have 12 stations, 4 of which will be interchanges with the existing MRT network. Phases 2 and 3 are still undergoing engineering studies.
When completed, the CRL is expected to be used by 600,000 commuters a day, a figure that will rise to 1 million over time. It will enable 80% of households to have a 10 minute walk or less to a station.
The Twelve Stations on Phase 1
Bright Hill – interchange with the second stage of the Thomson East Coast Line. Close to The Gardens at Bishan, Faber Gardens and Sin Ming Garden developments.
Teck Ghee – located on the junction of Ang Mo Kio Avenues 2 and 6.
Ang Mo Kio – interchange with the North South Line
Tavistock – on Ang Mo Kio Avenue 3, close to Ang Mo Kio Industrial Park 2
Serangoon North – also on Ang Mo Kio Avenue 3, near to the Serangoon Community Club.
Hougang – interchange with the North East Line
Defu – situated on Tampines Road, serving the Defu Industrial Area.
Tampines North – close to Tampines GreenView and Tampines North Town.
Pasir Ris – interchange with the East West Line.
Pasir Ris East – located on Pasir Ris Drive 1, near to the Pasir Ris East Community Building.
Loyang – on Loyang Avenue, close to Loyang Valley Condominium as well as Loyang Industrial Park.
Aviation Park – on Changi Coast Road and will serve the Changi Airfreight Centre as well as Changi Beach Park.
Effects on Property Sales and Prices
One of the biggest impacts on the price of a property, and whether a property sells at all, is its proximity to an MRT station. When the CRT was announced on 25th January, properties around the 8 new stations were dealt a massive bonus. Suddenly a potential obstacle to purchase was removed for many developments, with the very real prospect of prices being firmed up and resale values increasing.
This already appears to be happening. New launch condo, the Affinity at Serangoon is located just 350m from the newly announced Serangoon North. Within 2 weeks of the announcement, an extra 70 units had been bought. Nearby Garden Residences saw a similar spike in interest. Logan Property are making much of its new project, The Florence Residences’ proximity to the new Hougang station which is just a few minutes’ walk away.
Where there are winners there are also losers. Developments that were on a level footing with projects that are now near proposed new stations will suddenly have to compete on a playing field that is far from level. Of course, for the canny investor, that could also be seen as a positive as bargains could be had.