PETALING JAYA: The latest MRT project, the Circle Line, will likely lead to a boom in property value along its 51km route, says a real estate group.
This is because proximity to public transport is a crucial selling point for developers and landlords, said Malaysian Institute of Estate Agents (MIEA) president Tan Kian Aun.
“It is one of the key selling points for developers or landlords who want to rent out their units.
“Proximity to public transport can greatly influence rental rates and property values,” he said when contacted.
“This applies to both residential and commercial properties. Restaurants, convenience stores, and banks will soon sprout up in neighbourhoods along the route, thus boosting the commercial landscape,” he said.
The proposed alignment for the Circle Line or MRT3 has been put up on public display and available for feedback from Sept 2 to Dec 2.
The 51km orbital rail line will encircle the city’s perimeter and integrate seamlessly with existing MRT, LRT, KTM and Monorail lines through 10 interchanges and connecting stations.
ALSO READ: Check out the new MRT3 Circle Line
MRT3 will have stations at Bukit Kiara (interchange with Kajang MRT), Intan-National Science Centre, Sri Hartamas, Bukit Segambut, Dutamas, Kompleks Duta (interchange with KTMB), Sentul Barat (interchange with the upcoming Putrajaya MRT Line), Sentul Timur (interchange with the Ampang LRT line), and Setiawangsa (interchange with the Kelana Jaya LRT line).
It will also have stations at Pandan Indah (interchange with Ampang LRT), Taman Midah (interchange with Kajang MRT), Salak Selatan (interchange with Sri Petaling LRT), Bandar Malaysia South (interchange with Putrajaya MRT), MidValley (interchange with KTMB), Kerinchi (interchange with Kelana Jaya LRT), and University Malaya Medical Centre, among others.
Construction is scheduled to begin in 2026, with the entire line expected to be fully operational by 2032.
Jimmy Yong is one such person who welcomes a nearby MRT station as it will make commuting to work easier.
“I’m alone and renting a small room, so I’m happy that the MRT3 station will be close to Jalan Kuching,” the 23-year-old said.
However, Tan noted that there were some downsides to being close to an MRT line.
“Traffic could build up, and some areas might lack adequate parking,” he said.
“Neighbourhoods might not like the congestion caused by people parking to use the MRT line.”
He stressed that well-maintained public transport stations are crucial to avoid negative impacts such as noise and litter.
“But overall, it’s beneficial to the economy. It spurs commercial activities, increases rental rates and boosts property values,” he said.
Tan also called for local authorities to reconsider zoning laws to better integrate residential and commercial areas around new transport hubs.
“If there is a train station, residential areas may convert some spaces to commercial zones, which will invigorate local businesses,” he said.
He advised developers and investors to prepare for an increase in demand for properties near MRT3 stations, citing examples from areas like Subang Jaya where rental rates went up by 10% to 20% after the introduction of the LRT Kelana Jaya line.
Ruby Low, 39, an administrative clerk who owns a car, does not prioritise living near public transport or MRT stations.
“It’s exhausting to commute by train during peak hours from Puchong to Kuala Lumpur city centre. The travel time is the same, around an hour, so I’d rather drive and avoid standing for an hour before starting my work,” she said.
