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 Rulang Primary School, which has accumulated several accolades throughout the years, including The People Developer Standard Award, the Singapore Innovation Class Award, the Singapore Quality Class Award and the School Distinction Award.
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 Rulang Primary School:
As seen in the map, Rulang Primary School is part of the Jurong West estate, located near Lakeside MRT station, about 340 to 370 metres away. It is located in district 22, where a majority of HDB flats surround the school.
Transformations in Jurong
Rulang Primary School is located in the non-mature estate of Jurong West — one of the largest towns in the Western part of Singapore. According to the Department of Statistics, there are about 255,000 residents in the area as of data from 2021.
Under the Urban Redevelopment Authority’s (URA) master plan, the government introduced plans to transform the west region into three new employment areas – Jurong Lake District (JLD), Jurong Innovation District (JID) and the Tuas Port.
The JLD is poised to be transformed into Singapore’s second Central Business District (CBD) and will be the largest mixed-use business district outside the city centre. Connectivity will also be improved with newer MRT lines serving the area such as the Jurong Region Line (JRL).
How did Jurong properties perform in the market?
Limited number of new launches
The number of new project launches in Jurong West has declined in the past few years. Hence, the amount of units sold decreased from 345 units in 2017 to a mere 17 units in 2018. There have been no new sale transactions in the area since 2018.
With a lack of newly launched condominiums in the area, buyers have shifted their interest towards resale properties.
Higher number of resale transactions
On the contrary to new sale transactions, the number of resale units transacted has been rising steadily since 2019. Interest for resale transactions grew from 169 units sold in 2019 to 353 in 2021.
The average resale unit prices have also increased from $941 per square foot (psf) in 2020 to $1,064 psf. The hot demand for resale condominiums has given rise to prices in Jurong West
More interest towards 4-room HDB resale flats in Jurong West
Rulang Primary School is predominantly surrounded by public housing flats. There has been a surging interest in 4-room flats at Jurong West as the number of HDB resale transactions rose from 489 flats sold in 2020 to 542 in 2021. Meanwhile, bigger flats such as 5 room and Executive flats saw a decline in recent years.
We looked at the average HDB resale prices of Jurong West and compared it with the prices at neighbouring estate Jurong East. The average prices of both 4-room and 5-room resale flats in Jurong West are relatively lower as compared to those in Jurong East.
Surrounding properties near Rulang Primary School
We also conducted research on properties that are within the 1km radius of Rulang Primary 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, Lakeholmz had the highest price surge between 2011 and 2021, rising from $763 psf in 2011 to $921 psf in 2021 – a 20.7% increase. It is a 369-unit condominium.
Rulang Primary School is also surrounded by HDB flats, and we took a look at the price movements of these units as well:
The HDB blocks at Boon Lay Drive saw a higher increase in average prices for 4-room flats between 2011 and 2021. A growth rate of 20.0% was observed, with average prices ranging from $435.0k to $535.0k. It’s about 620-650m away from Rulang Primary School.
On the other hand, 5-room HDB resale flats that are further away from Rulang Primary School (950-990m) had a higher percentage change in average prices. A growth rate of 25.8% was observed for 5-room flats, with average prices rising from $469.1k to $590.2k in 2021.
Notable properties near Rulang Primary 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. Parc Vista
Project details:
Property Type: Condominium
Developer: Far East Organization & Capitaland
Tenure: 99-year leasehold
Completion: 1997/1998
Total units: 638
Distance to Rulang Primary School: Est. 230m-240m
Nearest MRT station: Est. 260m-280m to Lakeside MRT station (East West Line)
Parc Vista is a condominium in District 22 that’s under 1km from Rulang Primary. It’s closer to the Lakeside MRT station, less than 300m away. The 99-year leasehold project has 1- to 4-bedder units. The project is jointly developed by Far East Organization & Capitaland and is close to the Jurong West Street 52 hawker centre.
Recent transactions at Parc Vista seem to indicate a trend towards purchasing bigger sized units. Amid the pandemic, buyers have been eyeing larger homes to accommodate working from home.
Suggested available unit(s) at Parc Vista:
- 3BR (1,259 sq ft): $1.3m ($1,048 psf)
- 2BR (1,076 sq ft): $1.0m ($957 psf)
- 1BR (1,044 sq ft): $890k ($852 psf)
Neighbouring properties:
- Lakepoint Condominium – 4BR(1,884 sq ft): $1.5m ($796 psf)
- The Centris – 2BR (1,690 sq ft): $1.7m ($1,050 psf)
2. The Lakeshore
Project details:
Property Type: Condominium
Developer: Far East Organization
Tenure: 99-year leasehold
Completion: 2007/2008
Total units: 848
Distance to Rulang Primary School: Est. 430m-460m
Nearest MRT station: Est. 300m-320m to Lakeside MRT station (East West Line)
Another viable candidate is The Lakeshore. It is also a 99-year leasehold condominium development. The project is located across the road from Lakeside MRT station and it has close proximity to PIE & AYE. The Lakeshore offers excellent recreational facilities that cater to families, such as karaoke room, children pool, BBQ pits etc.
Over the course of the last 11 years, the demand for The Lakeshore was primarily fuelled by buyers who were transitioning from an HDB flat to a private condominium. In 2021, about 58% of buyers of the Lakeshore had an HDB address.
Suggested available unit(s) at The Lakeshore:
- 3BR (1,184 sq ft): $1.4m ($1,250 psf)
- 3BR (1,164 sq ft): $1.4m ($1,202 psf)
Neighbouring properties:
- Lakeholmz – 4BR (2,831 sq ft,): $2.9m ($1,059 psf)
- The Mayfair – 2BR (893 sq ft): $960k ($1,075 psf)
- Parc Oasis – 4BR (1,507 sq ft): $1.5m ($1,015 psf)
3. HDB Resale Flats at Jurong West Street 52
Property Type: HDB Resale
Flat types: 3-Room,4-Room, 5-Room, Executive
Distance to Rulang Primary School: Est. 120m-140m
Nearest MRT station: Est. 100-120m to Lakeside MRT station (East-West Line)
For an HDB resale option, you can take a look at the various blocks at Jurong West Street 52. These flats are a stone’s throw away from Rulang Primary School and have a remaining lease of about 60 to 78 years.
There has been a fair amount of transactions at Jurong West Street 52 in 2021 and more demand for 4-room HDB resale transactions, Which has been selling for around the range of $330k to $576k in 2021.
Meanwhile, 5-room flats were fetching a sales price of about $470k to $725k. These are reasonable price points for 4 room and 5 room flat types, despite being close to a popular school such as Rulang and in close proximity to an MRT station.
Suggested available unit(s) at Jurong West Street 52:
- Block 517D: 5BR (1,249 sq ft) for $800k ($640 psf)
- Block 520: 4R (1,119 sq ft) for $530k ($473 psf)
Neighbouring properties:
- Block 544 Jurong West Street 42: 3BR (797 sq ft) for $400k ($502 psf)
- Block 197D Boon Lay Drive: 5BR (1,216 sq ft) for $660k ($543 psf)
- Block 348 Kang Ching Road: 5BR (1,324 sq ft) for $520k ($393 psf)
Verdict
If you are set on getting a private resale condominium, both Parc Vista and The Lakeshore are great candidates. However, Parc Vista comes up as a cheaper alternative as compared to The Lakeshore, 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 Jurong West Street 52 are viable options. There are an estimated 1,000 HDB flats in Jurong West 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.
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 below. You can also WhatsApp us at +65 9727 5270!
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