THE IMPACT OF MASS RAPID TRANSIT (MRT) ON RESIDENTIAL PROPERTY PRICES IN MALAYSIA: A CASE STUDY OF THE SG. BULOH – KAJANG (SBK) LINE
DOI:
https://doi.org/10.21837/pm.v23i38.1821Keywords:
Housing prices, Residential property prices, Mass Rapid Transit, Transportation, Train stationAbstract
The relationship between transportation infrastructure and property prices is crucial in urban studies and real estate research, particularly in rapidly urbanizing regions like Malaysia. One crucial factor influencing real estate pricing is its proximity to well-planned and effective transportation hubs. Research continuously shows that homes near major highways or public transportation frequently fetch higher prices, reflecting the premium price paid for convenience and shorter commute times. Despite several studies being undertaken on the correlation between railway stations and property values, Malaysia, as a developing country, still lacks studies in this area of research. This paper focuses on the impact of Mass Rapid Transit (MRT) stations on residential property prices along the Sg. Buloh – Kajang (SBK) line in Malaysia. Through observational methods of data collection, the characteristics of MRT stations, including station type, facilities, and connectivity, were identified. Of the 31 stations, 9 were selected to reflect the residential property prices in the neighbourhood. This study focused on analysing residential property prices as the dependent variable using a secondary dataset. Key station characteristics such as platform type, location, parking, and distance to the station were analyzed to understand their influence on property prices. The result showed a different strength of relationship between the dependent and independent variables. The findings will assist policymakers and urban planners make informed decisions regarding transportation and housing development, optimizing the placement of new stations to enhance property values and urban connectivity.
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