By Romesh Navaratnarajah:Plans for a new high-speed rail link connecting Singapore to Kuala Lumpur have been confirmed. According to media reports, the train service is similar to those in China, Japan and Europe, where trains travel at high speeds.
This is expected to cut travel time from Singapore to Kuala Lumpur to 90 minutes.
With this latest development, trade, tourism and commerce in both countries is expected to be affected. More workers from Malaysia could move to Singapore for higher paying jobs. Meanwhile, more tourism could spillover from Singapore.
In terms of its effect on Singapore's property market, rentals are unlikely to rise given that workers from across the causeway will likely travel to and from work rather than rent a place here, depending on the price of train tickets.
But interest for property in Kuala Lumpur is expected to rise as Singaporeans look to the city as a possible retirement destination or holiday getaway.
Meanwhile, the high-speed rail link will complement the Rapid Transit System link between Johor Bahru and stations along Singapore's Thomson MRT Line that is expected to be ready by 2019.
Property values along line will likely rise, with the spike not limited to residential property, but also for commercial and industrial developments.Image Source: The Star online Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email email@example.com Related Stories: Bill to force developers to disclose discounts
Punggol residents against proposed road
6.9m population is worst case scenario: Khaw