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 (or PSLE, in short) help determine their future path in secondary school and beyond.
The Ministry of Education (MOE) 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:
- 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.
In this edition we will cover properties surrounding Red Swastika School, is one of the reputable schools in the Bedok estate. It has undergone many refurbishments in recent years and also operates as a single-session school. The school has won Sustained Achievement Awards in the areas of Physical Fitness, Sports and Aesthetics.
We will be focusing on residential developments that fall within the 1km radius and transactions in the past 10 years with sufficient transactional data available. This will 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.
Let’s take a quick look at the area surrounding Red Swastika School:
As seen in the map, Red Swastika School is located near Bedok Reservoir MRT station, about 440 to 460 metres away. It is located in District 16, with a combination of private and public properties surrounding the school.
The School is located in the mature estate of Bedok. According to the Department of Statistics, there are about 271,000 residents in the area as of data from 2021.
Under the Urban Redevelopment Authority’s (URA) master plan in 2019, the government introduced plans to transform the east region. This included new amenities, housing developments and the development of Thomson-East Coast Line in the estate.
New project launches driving sales
The number of new home sales in Bedok has been on an upward trajectory since 2019. With the number of new condominiums transacted increasing from 149 units sold in 2020 to 190 units in 2021.
This translated to a 27.5% (y-o-y) increase in the number of new home sales. While average prices for new condominiums have risen from $1,790 per square feet (psf) in 2020 to $1,815 psf in 2021. This was a 1.4% increase in prices.
Furthermore, new project launches in the area have resulted in an increase in new home sales and prices. Projects such as Seaside Residences, Urban Treasures and Grandeur Park Residences contributed to this upward trend.
Newly completed condos provided boost in resale transactions
Similarly, the number of resale transactions have been on the rise since 2019 as well. A total of 914 resale units were sold as compared to the 1,667 resale transactions in 2021. This accounted for 82.4% (y-o-y) increase in resale transactions.
In addition, average prices rose from $1,125 psf in 2020 to $1,214 psf in 2021. As newly completed condominiums garnered more interest from buyers and investors. Demand for resale transactions were driven by condominiums that were built between 2014 to 2016.
Majority of HDB resale transactions were 4-room flats in Bedok
There has been a consistent demand for HDB resale flats across the varying flat types in Bedok, in the last few years. With 4 room HDB resale flats forming the bulk of the transactions. As majority of the demand for HDB resale flats were geared towards such flats. Moreover in 2021, about 37% of the HDB resale transactions were made up of 4 room flats.
We looked at the average HDB resale prices of Bedok and compared it with the prices at neighbouring estate Marine Parade. The average prices of both 4-room and 5-room resale flats in Bedok are relatively lower as compared to those in Marine Parade. The average prices in Bedok are more attractively positioned.
Surrounding properties near Red Swastika School
We also conducted research on properties that are within the 1km radius of Red Swastika School and other nearby projects, based on the availability of transaction data over a 10-year period. These projects were analysed to understand the price changes in this time period.
Properties closer to the school have seen a growth in prices over the years. Among properties within 1km, The Clearwater had a higher price increase, growing from $841 psf in 2011 to $1,052 psf in 2021. This accounted for a 25.0% increase in prices. The Clearwater is about 400m-420m away from the Red Swastika School.
Likewise, Baywater had a price surge between 2011 and 2021, rising from $853 psf in 2011 to $1,022 psf in 2021 – a 19.8% increase. It is a 232-unit condominium. The development is about 470m to 490m away from the Red Swastika School.
Red Swastika School is also surrounded by HDB flats, and we took a look at the price movements of these units as well:
Average 4 room prices near the streets of Red Swastika School have generally held steady between the years of 2011 and 2021. With Bedok North Road having a higher price growth. As average prices rose from about $437k in 2011 to $502k in 2021.
Notable properties near Red Swastika School
The following properties below lacked the 10-year transactional data criteria that Ohmyhome has set, but we believe these are notable mentions worth checking out.
1. Aquarius By The Park
Project details:
Property Type: Condominium
Developer: GuocoLand Limited (Formerly First Bedok Land Pte Ltd)
Tenure: 99-year leasehold
Completion: 2000/2001
Total units: 720
Distance to Red Swastika School: Est. 480m-500m
Nearest MRT station: Est. 470m-490m to Bedok Reservoir MRT station (Downtown Line)
Aquarius By The Park is a condominium in District 16 that’s under 1km from Red Swastika School. It’s closer to the Bedok Reservoir MRT station, less than 500m away. The 99-year leasehold project is developed by GuocoLand Limited.
GuocoLand Limited is a SGX Mainboard-listed company that is an established and reputable developer in Singapore – a trusted name behind many residential projects here, including Midtown Modern, Midtown Bay, Meyer Mansion and Wallich Residence.
Recent transactions at Aquarius By The Park seem to indicate a trend towards more buyers from HDB flats transitioning to a private condominium. In addition, at least 41% of the buyers of Aquarius By The Park had an HDB address in 2021.
Suggested available unit(s) at Aquarius By The Park:
- 2BR (1,098 sq ft): $950k ($865 psf)
- 3BR (1,227 sq ft): $1.4m ($1,181 psf)
Neighbouring properties:
- The Clearwater – 3BR(1,195 sq ft): $1.3m ($1,088 psf)
- Baywater – 3BR (1,292 sq ft): $1.4m ($1,153 psf)
2. Tanamera Crest
Project details:
Property Type: Condominium
Developer: Capitaland
Tenure: 99-year leasehold
Completion: 2004
Total units: 288
Distance to Red Swastika School: Est. 820m-850m
Nearest MRT station: Est. 720m-740m to Tanah Merah MRT station (East West Line)
Another viable candidate is Tanamera Crest. It is also a 99-year leasehold condominium development. The project is located about less than 800m from Tanah Merah MRT station. Nearest retail options include Bedok Mall and Eastpoint Mall.
Recent transactions at Tanamera Crest indicate that there has been a renewed interest in the development. More buyers have purchased units in the project, due to its affordable prices. Average prices were about $860 psf in 2021.
Suggested available unit(s) at Tanamera Crest:
- 3BR (1,206 sq ft): $1.1m ($954 psf)
- 3BR (1,310 sq ft): $1.3m ($1,030 psf)
Neighbouring properties:
- East Meadows – 4BR (1,378 sq ft,): $1.9m ($1,422 psf)
- Casa Merah – 2BR (947 sq ft): $1.1m ($1,214 psf)
3. HDB Resale Flats at Bedok North Street 2
Property Type: HDB Resale
Flat types: 2-Room, 3-Room,4-Room, 5-Room, Executive
Distance to Red Swastika School: Est. 330m-360m
Nearest MRT station: Est. 820-850m to Bedok Reservoir MRT station (Downtown Line)
For an HDB resale option, you can take a look at the various blocks at Bedok North Street 2. These flats are closely situated to Red Swastika School.
The number of HDB resale transactions at Bedok North Street 2 has grown from 43 flats sold in 2020 to 53 flats transacted in 2021. More interest for 4 room and 5 room flats. The relative close distance to Red Swastika School has generated a fair amount of demand for these flats.
Suggested available unit(s) at Bedok North Street 2:
- Block 140: 5BR (1,292 sq ft) for $780k ($604 psf)
- Block 130: 4R (990 sq ft) for $525k ($530 psf)
Neighbouring properties:
- Block 418 Bedok North Avenue 2: 3BR (721 sq ft) for $380k ($527 psf)
- Block 505 Bedok North Avenue 3: 5R (1,281 sq ft) for $599k ($468 psf)
Verdict
If you are thinking of getting a private resale condominium, both Aquarius By The Park and Tanamera Crest are great candidates. In fact, the average resale prices are relatively lower than the resale prices of Condominiums in Bedok. However, Tanamera Crest comes up as a cheaper alternative as compared to Aquarius By The Park , in terms of average resale prices over the past few years. Parc Vista is able to command a lower price due to it being an older development.
On the other hand, if you are keen on HDB resale options, the various blocks at Bedok North Street 2 are viable options. There are an estimated 700 HDB flats in Bedok that are expected to reach their minimum occupation period (MOP) in 2022 as well. So, you can look out for them too.
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 your child.
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Source: Google Street View
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