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Homes Near Top Schools: Nanyang Primary School

Mohan Sandrasegeran

Mohan Sandrasegeran

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For many parents, the beginning of their child’s formal education commences in the 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):

  1. Singapore Citizens (SC) living within 1km of the school.
  2. SCs living between 1km and 2km of the school.
  3. SCs living outside 2km of the school.
  4. Permanent Residents (PR) living within 1km of the school.
  5. PRs living between 1km and 2km of the school.
  6. PRs living outside 2km of the school.

Source: MOE

In this edition we will cover properties surrounding Nanyang Primary School. We will be focusing on private residences that fall within the 1km radius as well as transactions in the past 10 years with sufficient transactional data available. This would provide a comprehensive view of how prices have changed over the years and if being in close proximity to a top school plays a role in the value of the property. 

Source: Onemap, Ohmyhome Research 

School: Nanyang Primary School

Property type: condominiums within 1km of school

District: 10

Nearest MRT:  Farrer Road Station (Est. 350-380m) 

Nanyang Primary School is a co-educational primary school in Singapore. The school is known for its numerous accolades. It is located at King’s road, as part of Bukit Timah Estate in District 10. 

The school is located in a private residential enclave. The recent new extension to the school provides a colourful, uplifting mood to the building and provides a sense of vibrancy as well. 

Bukit Timah is surrounded by lush greenery and heritage. One of the iconic sites in the area is Botanic Gardens. It has a rich history and is known for its renowned heritage.

Consistent growth in sales for Bukit Timah

Source: URA Realis,Ohmyhome Research

Overall new home prices have held firm around the $2,000 mark since 2019. New home prices grew from $2,025 psf in 2020 to $2,273 psf in the first 10 months of 2021, translating to a 12.2% (y-o-y) growth. 

Meanwhile, resale prices rose from $1,434 psf in 2020 to $1,533 psf in the first 10 months of 2021, a 6.9% (y-o-y) increase. Bukit Timah is part of district 10, a sub-segment of the Core Central Region (CCR). CCR is often associated with the luxury property segment in Singapore. Hence, prices generally command a premium in these areas. 

Growing demand for new home sales in the luxury property segment 

Source: URA Realis,Ohmyhome Research

Despite prices commanding a premium in CCR, the overall number of transactions for new home sales volume have increased from 1,123 units sold in the first 10 months of 2020 to 2,218 in the corresponding time period in 2021. This was a 97.5% (y-o-y) increase. Amidst the pandemic, many buyers saw an opportunity to enter the high-end private home market. CCR projects have garnered a healthy interest from buyers and investors due to a good mixture of projects offered. 

New home prices strengthened in recent years in district 10

Source: URA Realis, Ohmyhome Research

To further zoom into District 10, where Nanyang Primary School is located, private new home prices have been hovering around the $2,000 mark since 2016. There have been more freehold new launches in the district which has boosted the overall new home prices. Notable best selling properties in the first 10 months of 2021 include Leedon Green, Fourth Avenue Residences and Hyll on Holland in District 10. 

Source: URA

More upcoming developments are expected in the Bukit Timah area. Based on the URA master plan in 2019, an integrated transport hub with a Community Club, redeveloped market & hawker centre, will be introduced close to the Beauty World MRT station. It will also feature a range of new amenities such as an indoor sports hall, community library and elderly facility to enhance livability as well. These rejuvenation efforts will provide residents with added convenience. 

Steady growth in resale transactions in District 10 

Source: URA Realis, Ohmyhome Research

Number of resale transactions have been growing for the past few years, growing from 693 transactions in 2019 to 1,223 in the first 10 months of 2021.  Resale prices have also steadily grown in the past 10 years, this is due to the resiliency of the prices in the district, as potential gains are higher in the long term. With the ongoing urban transformation in the area, property prices will further increase in the future once all of the developments are completed. 

Source: Nparks

In addition to the iconic Botanic Gardens, which is one of Singapore’s oldest gardens – Nature lovers will be delighted to know that there will be an upcoming Bukit Timah-Rochor Green Walk. It is a new linear park along the Bukit Timah Canal and it aims to provide an immersive greenery experience. 

Growth in foreigner purchases in District 10

Source: URA Realis, Ohmyhome Research

Typically, foreigners have a strong desire to buy properties in the CCR segment and District 10 is one such area. 

In 2020, with the beginning of the pandemic, the number of transactions fell sharply. This is due to the travel restrictions that were imposed on countries entering Singapore. However, with the recent introduction of the Vaccinated Travel Lanes (VTL), we can expect more foreigners to re-enter the property market in Singapore. 

Surrounding properties near Nanyang Primary School 

Source: URA Realis, OneMap, Ohmyhome Research

 

We conducted research based on the availability of transaction data over a 10-year period for properties that are within the 1km radius of Nanyang Primary School. These projects were analysed to understand the price changes in this time period. 

Condominium properties in District 10 have experienced higher price appreciation. Among properties within 1km distance, Coronation Village had a higher price surge between 2011 and 2021, rising from $1,429 psf in 2011 to $2,526 psf in 2021, a 76.8% increase in prices. The development is located relatively close to Nanyang Primary School, with an estimated distance of 320-350m. 

One of the reasons for the high price increase is also due to a limited number of units in the development, with a total of 16 units. Condos prices have mostly appreciated in time. However, notably Kingsvillie had the lowest price increase as compared to all the other properties. It is one of the older properties in the area, which was completed in 1999. 

Notable properties near Nanyang Primary School

The following properties below lacked the 10-year transactional data criteria that Ohmyhome sets, but we believe these are notable mentions worth checking out. Let’s start with Leedon Green.

1. Leedon Green 

Source: MCL Land

Project details:

Property Type: Condominium 

Developer: Yanlord Land Group and MCL Land

Tenure: Freehold

TOP: 2023 (expected)

Launch Date: 2020

Total units: 638

Nearest MRT station: Est. 760-770m to Holland Village Station (Circle Line)

This is a freehold development that sits on the former site of the Tulip Garden. Developers Yanlord Land Group and MCL Land purchased Tulip Garden at a price of $907 million. It is within walking distance to two MRT stations – Farrer Road and Holland Village. Residents who enjoy the night life will especially appreciate the proximity to Holland Village and Dempsey Hill. 

Source: URA Realis, Ohmyhome Research

The project was launched in January 2020 before the pandemic started. The project has a total of 638 units. It had an average launch price of $2,724 psf in 2020 and has now dipped to $2,693 psf in October 2021. 

Suggested available unit(s) at Leedon Green:

3BR, 958 sq ft for $2.4m ($2,522 psf)

2BR, 614 sq ft for $1.6m ($2,707 psf)

2. Wilshire Residences

Source: Roxy-Pacific Holdings and Tong Eng Group

Project details:

Property Type: Condominium 

Developer: Roxy-Pacific Holdings Limited & Tong Eng Group

Tenure: Freehold

TOP: 2024 (expected)

Launch Date: 2019

Total units: 85

Nearest MRT station: Est. 590-600m to Farrer Road Station (Circle Line)

This development is a joint venture by Roxy-Pacific Holdings Limited and Tong Eng group, and has a total of 85 units. It is well within the 1km radius of Nanyang Primary School, great for parents looking to enroll their children there. To top it off, It is also just across the road from the Farrer Road MRT Station on the Circle Line.

Source: URA Realis, Ohmyhome Research

 Wilshire Residences was launched in April 2019, at an average price of $2,657 psf. It has since dropped to $2,245 psf. A 15.5% decrease in average unit prices, making it an attractive entry price point to enter. The project has sold about 40% of its units. 

Suggested available unit(s) at Wilshire Residences:

3BR, 840 sq ft for $1.7m ($2,047 psf)

3BR, 840 sq ft for $1.9m ($2,378 psf)

3. Dunearn 386

Source: Roxy-Pacific Holdings

Project details:

Property Type: Condominium 

Developer: Roxy-Pacific Holdings Limited & Tong Eng Group

Tenure: Freehold

TOP: 2025 (expected)

Launch Date: 2019

Total units: 35

Nearest MRT station: Est. 420-480m to Botanic Gardens Station (Circle Line)

Dunearn 386 is a freehold development that provides relative serenity and exclusivity, with a total of 35 units in the project. It is developed by one of the reputable developers – Roxy-Pacific Holdings Limited. The developer is renowned for their quality and value offering in projects. Some of the previous projects under its belt include Neu At Novena and View At Kismis. 

The project actually falls under District 11, but since its close proximity to the Nanyang Primary School, we felt that it is key to mention it. The development is an estimated 630-650m away from the school. It is also attractively located in between Botanic Gardens station and Tan Kah Kee Station. Buyers of this property would be able to access both the Circle Line and Downtown stations. 

Source: URA Realis, Ohmyhome Research 

The project was launched in 2019 with an average price of $2,526 psf. However, prices have since dropped to $2,357 psf in October 2021 – a 6.7% decline. A lower entry price keeps the development relatively attractive for the area. 

Suggested available unit(s) at Dunearn 386:

1BR, 452 sq ft for $1.17m ($2,608 psf)

For more potential available units for this development, do contact or message us at +65 9727 5270.

Owning a property near a top school does have its perks, since priority is given to students who live close to it. However, as a parent there are various considerations to undertake to ensure a smooth transition for the child as well. 

If you need help finding a home that matches your requirements , do reach out to us at 6886 9009 to secure an appointment today or message us on Intercom, which can be found at the bottom, right-hand corner of the screen. You can also WhatsApp us at +65 9727 5270!

Cover Image: Straits Times

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