What actually happened to HDB resale prices when a station opened nearby:
every opening since 1993, measured against each block's own town, with a comparison
line for flats beyond 1200 m so a town-wide rise isn't mistaken for a station
effect. Not a "near MRT!" badge.
Loading the study…
How it is measured
The outcome strips out the market. Each resale is compared to the
median of the same town, flat type and quarter, so a town-wide boom cannot pose as a
station effect. Remaining lease is adjusted for separately, because blocks near
older stations are older blocks whose leases decay faster.
Each distance band is measured against its own pre-opening level
(5 to 2 years before opening; the year just before opening is left out as a
buffer). The beyond-1200 m band of the same towns is the control: if it
moves too, the station did not do the moving.
Only first arrivals count. Blocks already within 1.2 km of
open rail are excluded from a "new station" event. MRT and LRT are graded
separately: a feeder LRT stop does not make a later MRT opening any less new.
Thin events are shown, not hidden. A station needs 30 nearby
resales before opening and 30 after to earn a number. The ones that fail stay in
the tables, marked "too little data".
Values are shown as percentages. +5% means roughly five percent
above where the block would sit on its own town's trend.
Sources: HDB resale transactions (1990 to present) via data.gov.sg and the LTA MRT
station exits dataset. Station opening dates are a curated table compiled into the
server, one public source URL per row. The same data behind the map.
Raw JSON at /api/mrt_event_study
(see the API docs).