For many parents, the beginning of their child’s formal education commences in primary school. To many, this is a pivotal moment in their lives, as Primary School Leaving Examinations help determine their future path in secondary school and beyond.
The Ministry of Education prioritises a child’s admittance to a school based on the distance from their home.
The following below are the guidelines set by the Ministry of Education (MOE):
- Singapore Citizens (SC) living within 1km of the school.
- SCs living between 1km and 2km of the school.
- SCs living outside 2km of the school.
- Permanent Residents (PR) living within 1km of the school.
- PRs living between 1km and 2km of the school.
- PRs living outside 2km of the school.
School: Anglo-Chinese School (Primary) at Barker Road
Property type: private properties within 1km of school
Nearest MRT: Newton MRT (595m)
For this edition, we will cover properties surrounding Anglo-Chinese School (Primary) at Barker Road. Our focus is on private residences within 1km radius with sufficient transactions occurred in the past 10 years. This would provide a comprehensive view of how prices have changed over the years and if being in close proximity to a renowned school plays a role in property value.
ACS is a group of Methodist schools, ranging from primary to junior college level. The brand also includes an independent school and an international school.
ACS is widely considered to be a highly reputable school due to its long standing history in Singapore. It has accumulated numerous awards and accolades over 100 years.
It is located at the postal district 11 and it is conveniently located near Newton MRT station, with an estimated distance of 595m.
Property prices in District 11 – positive growth in CCR
District 11 mainly covers the Newton and Novena areas. Prices are typically higher in this district as it is part of the Core Central Region (CCR). CCR typically includes districts 9, 10 and 11.
These districts are some of the prime areas in Singapore, where most high-end, luxury properties are located. The close proximity to the city’s financial district and popularity with expats are also some reasons for the district’s high property prices. Typically, many expats live in these areas, as being near to the Orchard shopping belt makes it an ideal living environment.
Private new home sales – resilient prices rebound from cooling measures
According to our research, private new home sales took a massive plunge in 2018 as average unit prices reached $1,316 psf. It suffered a 37.5% dip in comparison to 2017, when it was $2,106 psf. This was one of the biggest price drops in the district at that time. This is mainly due to the introduction of further property cooling measures by the government in that year and District 11 was one of the hardest hit due to these measures.
Lack of major new project launches hugely affected the prices in that area as well. Eventually, new home prices recovered in 2019, as average unit prices grew exponentially to $2,561 psf. This was a 94.6% percentage change in prices between 2018 and 2019, as more new launches were added to the pipeline, providing buyers with more attractive options.
Resale properties – The stability of the resale market
The good news for buyers today is that prices have remained relatively stable for the resale market. Average unit prices have steadily increased by 20% over a 10-year period – $1,396 psf to $1,686 psf between 2011 and 2021. As a buyer, you can be confident of long term property appreciation, and might even get a better deal if you purchase during a cyclical low.
Observing the dynamics of both the new sale and resale market, there have been fewer new launches in district 20 in the past few years. The number of transactions for new launches have also dwindled in recent years, as interest has shifted towards the resale market, with transactions rising to 502 units in the first 9 months of 2021.
From these price trends, we can observe the narrowing price gap between the new sale and resale properties over the years.
Non-landed vs. landed properties – freehold properties reign supreme
District 11 houses more condominiums and apartments than landed properties. But their average unit prices are in tandem with landed properties because the non-landed properties are mostly freehold residences that are generally able to hold a price premium in the long term.
Price overview of properties near Anglo-Chinese School (Primary)
We conducted research based on available transaction data over a 10 year period for properties within the 1km radius of ACS. These projects were analysed to understand the price changes in this time period.
Within the 1km radius, Goldhill Gardens had the highest price increase of 47.8% between 2011 and 2021. It rose from $1,526 psf in 2011 to $2,255 psf in 2021.
The units in this landed housing development were originally built in the 1970s but it has undergone refurbishments over the years. Close behind in terms of price increase was Evelyn Mansions, a non-landed freehold project.
Proximity to the school has definitely driven prices over the past 10 years. However, despite being over 1km away, Mayflower Gardens saw an incredible 121.6% increase in prices between 2011 and 2021. The close proximity (just 436m) to the Mayflower MRT station undeniably also boosted the prices for this project.
Notable properties near Anglo-Chinese School (Primary)
The following properties below lacked the 10 year transactional data criteria that we set, but they are notable mentions worth pointing out.
1. 35 Gilstead
First of all, we have 35 Gilstead. It is an 8 min walk (estimated distance of 673m) to the school.
This is a freehold property, with a total of 70 units, and was launched in March 2019 with an average unit price of $2,540 psf. Based on our research, average unit prices reached its peak in February 2020, reaching $2,789 psf. It is close to the Newton MRT station (estimated distance of 415m).
35 Gilstead is developed by Tee Land, who bought the former Casa Contendere for a collective sale price of $72 million in November 2017. Thus far, a total of 38 units have been sold, translating to a take up rate of 54.2%.
2. Pullman Residences Newton
Lastly, we have Pullman Residences Newton – it is an exciting new launch to watch out for in the ACS vicinity. The development has an estimated distance of 630m to ACS primary school. It is a freehold property, with a total of 340 units. The project is developed by EL Development (Horizon) Pte Ltd. Some previous projects by the developer include Parc Riviera and Symphony Suites.
Pullman Residences Newton was launched in November 2019, with an average unit price of $2,992 psf. Since then, the property has gone through various price movements, resulting in an average price of $2,930 psf in September 2021. The project is easily overlooked despite its ideal location and proximity to the Newton MRT station (159m). With over 200 units still available, this is definitely an address worth considering if you want to be close to the ACS primary school.
Having a property near a top school certainly has outstanding perks. With priority given to residents located near a school, it is worth looking into some of these properties to live in.
Suggested listings near Anglo-Chinese School (Primary):
Pullman Residences Newton:
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