Wazzup Pilipinas!
Choosing to live in an area that’s within striking distance of a train station is expensive, but how much more homebuyers are expected to pay is the more appropriate question.
Looking at the listed prices of condos close to MRT stations along EDSA, global property portal Lamudi Philippines (www.lamudi.com.ph) found that an average condo located within 100 meters of an MRT station is at least Php16,645 more expensive per square meter than a similar, newly built condo situated more than 500 meters away. The price gap becomes even wider depending on the condo and its developer.
Lamudi picked two MRT stations (Boni and Magallanes) with a number of condo developments around them, and analyzed the price difference between the condos that are directly connected to the MRT station with similar ones that are situated more than 500 meters away. In addition, Lamudi chose only those condos with more than 15 for-sale properties listed in the platform.
In the case of Boni Station in Mandaluyong, there were two condo developments that are directly connected to the MRT station. If property buyers opt to choose any of these two properties, then they should pay Php31,572 and Php16,645 more per sqm compared to a similar, newly built condo in the same area but situated more than 500 meters away from the train station.