Condo Units Near Top Schools: Tao Nan School

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 (MOE) prioritises a child’s admittance to a school based on the distance from their home. 

The following below are the guidelines set by 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 Tao Nan School. We will be focusing on private residential 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. 

School: Tao Nan School 

Property type: Private properties within 1km of school

District: 15

Nearest MRT:  Marine Terrace MRT (Est. 393m) expected to be completed 2024

Tao Nan School is located at Marine Crescent road, as part of Marine Parade estate in District 15. The school has been sought after by parents for its rich heritage and reputation. It has won numerous accolades over the years such as Singapore Quality Class and School Distinction awards. 

The school is closely situated to the upcoming Marine Terrace MRT Station as part of the Thomson-East Coast Line (TEL), and is expected to be completed in 2024. Historically, Marine Parade holds the honour of being the first housing estate to be built entirely on reclaimed land.

Resilient property prices in district 15

District 15 primarily covers the East Coast and Marine Parade that includes areas such as Katong, Joo Chiat and Amber Road. The overall average unit prices in the district grew from $1,241 psf in 2011 to $1,684 psf in 2021, translating to a 35.7% surge over the course of 10 years. 

The Marine Parade neighbourhood is a self-serving town with its own shopping mall – Parkway Parade. It is also closely situated to the East Coast Park which is a popular destination for water sports, cycling and leisure. The new Changi Airport Connector from East Coast Park to Changi Airport provides more family friendly activities as well. 

Growing interest in new home sales in district 15

The number of new home sales and prices have been relatively stable in district 15. Despite the cooling measures introduced in 2018, prices stayed firm as it continued growing till 2019. 

It should be noted that in 2018, apart from the property cooling measures, the URA also announced that it was revising its existing guideline on the maximum allowable number of units for all new flats and condominium developments outside the Central Area. Marine Parade was one of the 9 areas subjected to an even more stringent minimum size of 100 sq m. 

When the pandemic hit, both the number of transactions and prices fell in 2020. But since then, new projects in the region have given new energy into the private market. As the volume of transactions grew from 257 units sold in 2020 to 481 units transacted in the first 10 months of 2021, translating to a 87.2% growth rate.  

Stable demand for resale homes 

The number of resale transactions have been growing steadily in recent years. As resale transactions grew from 887 transactions in 2019 to 1,513 in the first 10 months of 2021.  

The announcement of the Thomson-East Coast Line (TEL) in 2014 uplifted property prices in the neighbourhood, as improved connectivity in the east coast area is of an added advantage. 

The closest TEL station to Tao Nan School would be  Marine Terrace, slated to open in 2024. With the introduction of stations under the TEL – it will definitely improve the connectivity and accessibility of the location. 

Freehold condos reign supreme in District 15 

Condominium prices started to grow in tandem with landed property prices from 2019 onward, as more new projects were launched in District 15.  There are a wide range of freehold condos that played a pivotal role in boosting the prices as well.

District 15 has a big cluster of freehold properties in the region. There have been a growing number of freehold resale transactions in the district over the past few years. Based on the data retrieved, the number of freehold properties transacted grew from 693 units in 2019 to 1,231 units sold in the first 10 months of 2021.

Surrounding properties near Tao Nan School

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

This cluster of freehold properties located all in one place is a rare sight in Singapore. Buyers looking for freehold properties will be spoilt for choice in this area. 

Generally, property prices in the vicinity of the school have increased. Among properties within 1km distance, St Patrick’s Green had the highest price increase of 49.7% between 2011 and 2021. In juxtaposition, D’Ecosia is the closest property to Tao Nan School. The project prices rose by 20.7% between 2011 and 2021. This seems to be a recurring trend where prices of properties closer to the school increase at a slower pace.

Notable properties near Tao Nan 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 Infini at East Coast.

1.Infini at East Coast 

If you enjoy exclusivity, Infini at East Coast is a development that will be suited to your needs. The freehold development has only 36 units. So if you are not looking forward to connecting with many neighbours, this would be something attractive to you.  

The project is about a 7 min walk to the upcoming Marine Terrace MRT station, with an estimated distance of 652m. The closeness to the Parkway Parade shopping mall makes the property all the more attractive.

The project was launched in 2019 with an average price of $1,896 psf. Based on our research, average resale unit prices have marginally risen from $1,896 psf in 2019 to $1,922 psf in 2021, a 1.4% increase. Despite being in District 15, prices have remained relatively attractive.  

Suggested available unit(s) at Infini at East Coast:

3BR, 1,066 sq ft for $1.9m ($1,808 psf)

4BR, 1,249 sq ft for $2.1m ($1,751 psf)

2. Residence Twenty-Two

Another development that shares a similar attribute in terms of exclusiveness is Residence Twenty-Two. The small development has a total of 22 units, and is nestled in the heart of Telok Kurau and aims to provide a serene environment. 

Residence Twenty Two is another recent new project in the vicinity of Tao Nan School. It is also a freehold condominium, which is located along Telok Kurau Road. This project is located slightly further away from the MRT station, at about 947m with a 11 min walk. Despite the pandemic, the project has undergone a price surge of 17.4%, rising from December 2019 at $1,569 psf to $1,842 psf in Aug 2021.

Suggested available unit(s) at Residence Twenty Two:

3BR, 1,195 sq ft for $2.1m ($1,830 psf)

3BR, 1,216 sq ft for $2.2m ($1,829 psf)

3. Amber Park 

Despite being slightly further away from Tao Nan School, with an estimated distance of 1.3 km – Amber Park is a unique development. It is situated closer to the upcoming Tanjong Katong MRT station, which is expected to be completed in 2024.  

The project is a freehold condominium property, jointly developed by two reputable developers – Hong Realty (Hong Leong Holdings) and City Developments Limited (CDL). These developers have numerous accolades under their belt.  

Amber Park  was launched in 2019, with an average unit price of $2,483 psf. Its prime location and proximity to East Coast Park and the restaurants along Tanjong Katong Road makes it a favorable destination to live in. 

Suggested available unit(s) at Amber Park:

3BR, 947 sq ft for $2.1m ($2,269 psf)

3BR, 947 sq ft for $2.9m ($3,111 psf)

4BR, 1,527 sq ft for $3.5m ($2,242 psf)

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. 

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Cover image: StreetDirectory.com