Over a year since its full launch, the MRT is experiencing low ridership. Why is this? We looked at the prices of properties surrounding MRT stations to see if the B40 and M40 could live near a public transport that they would most likely use.
With over 5200 data points collected over these past few months, we observed median prices per sqft of properties around the stations and compared it with the maximum 30%-to-mortgage affordability line of a M40 and B40 income.
The median 400 MYR price per sqft (which is affordable for the M40 income) is surpassed after MRT Sri Raya. All median priced properties from Taman Suntex to Sungai Buloh have no apartments below 400,000 MYR.
No median priced properties in any station throughout the MRT is affordable for the B40. Only 8 out of the 31 stations (most of them near Kajang) are affordable for the M40.
When you look at the sizes of property made available, if we assume that a young family of three would require 1000 to 1500 sqft to live comfortably, few of the stations would be able to accommodate a couple with a young child.
New property developments from Sungai Buloh to Sri Raya stations are well above the affordability budget of the M40. The people who would be able to pay for these new homes would most likely not need public transportation.
Whilst the MRT is abundant with direct access to malls and recreational areas, there is only one government hospital within 1 km of any station. There are also no PR1MA housings available within 1 km of any station either.
With a 3rd national car on the horizon, it is important that we don't cast aside public transportation completely. The MRT was well intentioned, but it failed to prioritize accessibility to the M40 and B40, people who would actually ride the service.
To read our full report, check out centgps.com.my
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