Do international schools give a boost to prices of nearby condos

MethodologyThe international schools featured in this article have been selected because of their large student populations and well-established status in Singapore. Care has been taken to select schools that are geographically dispersed to ensure that each school has different condos within a 2km radius.These residential properties comprise only of condo units that have obtained a temporary occupation permit (TOP) and have at least five resale transactions in the last 12 months. This helps to prevent any individual transaction from skewing the overall average price for the development. Executive condos are not considered due to prevailing restrictions against foreign ownership.

Singapore (EDGEPROP) – In this article, we will investigate the average prices and sales volumes of condos situated within a 2km radius of three international schools in Singapore. Care has been taken to select schools that are geographically dispersed and have sizeable student populations.

The condos examined in this article all have obtained a temporary occupation permit (TOP) within the last 12 months and have at least five resale transactions recorded in that time. Executive condos are not considered due to prevailing restrictions against foreign ownership.

Read also: Three-bedder at The Windsor sold at $2.7 mil profit

Singapore American School

The Singapore American School (SAS) is located along Woodlands Street 41, and has over 4,000 enrolled students from preschool to Grade 12, with 54% holding an American passport. SAS is surrounded by amenities like the Seletar and Bukit Timah Expressways, Marsiling Mall and Food Centre, Marsiling MRT Station, and Woodlands Swimming Complex.

Within a 1km radius of SAS, there are three condo developments (618 units), with Woodhaven commanding the highest average price of $1,218 psf and Woodgrove Condominium having the lowest at $896 psf. Another four condos (1,804 units), located between 1 to 2km away, boast prices ranging from $917 psf to $1,242 psf, with Parc Rosewood having the highest.

Interestingly, Parc Rosewood accounts for 29 transaction sales in the last 12 months; the highest number among all the condos in this proximity range. Woodhaven has the highest sales volume within the 1km radius of SAS, with more than half of the total sales transactions occurring there.

Read also: 1919 reaches new high of $2,283 psf

Overseas Family School

The Overseas Family School (OFS) has 3,000 students representing over 70 nationalities and offers education from nursery to Grade 12 levels. It is located opposite Elias Mall along Pasir Ris Heights.

Within a 1km radius of OFS, there are seven completed condos (4,413 units) with 7 condos (2,102 units) located between 1 to 2km away. Coco Palms has the highest average price at $1,436 psf and the highest sales volume in the last 12 months at 35 transactions.

D’Nest commands a slightly higher average price of $1,318 psf and the second highest sales volume at 39 transactions. Both Coco Palms and D’Nest are 99-year leasehold developments located in District 18, and have approximately 900 units each.

Canadian International School

The Canadian International School (CIS) is now operational exclusively from the Lakeside Campus, and has about 3,000 students representing over 70 nations. CIS is situated along Jurong West Street 41, and is conveniently located within a 1km radius of Yuhua Market and Hawker Centre, Lakeside MRT Station, and Jurong Lake.

Within a 2km radius of CIS, there are 14 condos (8,360 units). J Gateway commands the highest average price at $1,848 psf with 33 transactions over the past 12 months. Lake Grande has the highest average price within the 1km radius of CIS, at $1,672 psf, with the same number of transactions as Lakeville, 26.

Both Lake Grande and J Gateway are 99-year leasehold developments located in District 22 and have approximately 700 units each, although Lake Grande is a newer development and obtained TOP three years after J Gateway.

The current average price for J Gateway ($1,908 psf) is $585 psf higher than leasehold condos in the same district, and the condo’s popularity is attributed to its proximity to numerous amenities.

Besides, the future Integrated Transport Hub will be located at the doorstep of the future Bukit Panjang EC,. With ample dining, shopping, and entertainment outlets nearby, the entire family can have fun and bond. Furthermore, residents of Senja Residences EC can look forward to a wide range of facilities.

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