New expressway may devalue nearby homes

November 20th, 2011 at 9:39 pm

Construction zones at the North-South Expressway (NSE) could harm rents and values of nearby properties during the building phase.

The Straits Times noted that traffic diversions, noise and dust could devalue nearby properties by between three and five percent, as prospective buyers tend to avoid these properties. The extent of the decline in value depends on the property’s relative proximity to the expressway.

Meanwhile, impending construction works have already resulted in developers’ reluctance to buy or launch projects in the area