The Impact of Light Rail Transit Station to the Surrounding Residential Properties

Ang, Bao Quan (2021) The Impact of Light Rail Transit Station to the Surrounding Residential Properties. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

Nowadays people often use public transport to travel to their destination. There are several public transport services are provided in Kuala Lumpur. In order to avoid heavy traffic and congested road, most of the white-collar worker rely on public transport to their destination instead of driving their vehicles. This study is to determine the positive and negative impact of Light Rail Transit (LRT) towards its surrounding residential properties. Impact such as accessibility, sales price, better appreciate value and pollution are mentioned and discussed in this research. The result of research shows that Light Rail Transit (LRT) station has enhanced the accessibility of its immediate surrounding houses and subsequently increased the demand towards residential properties. Thus, the increase of demand has then increased the values of residential properties that are located near to the Light Rail Transit (LRT) station Besides, all of the transaction data are collected from Jabatan Penilaian Dan Perkhidmatan Harta Malaysia (JPPH). These data are focused in the targeted area and used to analyse the area. A total of 379 transaction data are shortlisted and adopted into this study in order to identify the impact of distance from Light Rail Transit. Furthermore, this research also revealed the consideration of the house buyers and investors during purchase property. However, the distance to Light Rail Transit (LRT) station is the main concerns reveal in this research. At the end, this research determined the significant positive impact of distance to Light Rail Transit (LRT) station onto the house price where the property enjoy about 21.71% of price premium compare to the property not located near to Light Rail Transit (LRT) station.