5 Untold Risks Of Buying An Old Freehold Condo In Singapore
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TLDR
Parents often seek homes within 1km of desired primary schools to increase enrollment chances. Consider oversubscription rates and population density. Properties near popular schools like Anglo-Chinese School (Junior) and Anglo-Chinese School (Primary) have seen price increases. Fairfield Methodist School (Primary) area lacks residential developments, leading to high property prices. Raffles Girls’ Primary School and Singapore Chinese Girls’ Primary School have also experienced price surges due to demand. Consider resale options for affordability. Strategic real estate advice and data-driven approach can guide buyers and sellers through the property market.
Parents are often willing to pay a premium to purchase a property near a sought-after primary school, with the goal of enhancing their children’s odds of getting into the school. The reason being, those who are geographically nearer to the school are given priority in the enrollment process.
Discover the Significance of Residing Within 1km of a Primary School
If you have no prior connection or affiliation to the school, you can only apply during Phase 2C during the annual Primary 1 registration. Priority admission is given to Singapore Citizens (SCs) and Permanent Residents (PRs) living closest to the school based on the home-school distance (HSD). SCs living within 1km, between 1km and 2km, and outside 2km of the school; and PRs living within 1km, between 1km and 2km, and outside 2km of the school are given the priority admission. Therefore, if you want your child to get enrolled in a particular school, you should purchase a home within 1km radius of the school. However, your distance relative to the school and past application rates should not be the only factors to consider.
Application rates and population density
Although the slogan “every school a good school” may be true, certain schools are in more demand than others. For example, almost 50% of primary schools experienced oversubscription in Phase 2C of the Primary One registration last year, with 88 out of 181 primary schools receiving more applications than they had vacancies. To improve the odds of your child getting a place in a desired school, you may want to look into schools located in less crowded neighbourhoods; since there are fewer kids in the area, there’s a higher likelihood of being accepted.
Popular primary schools located in less densely populated areas, and the properties nearby
We have shortlisted popular primary schools that meet two conditions: oversubscribed in Phase 2C of the 2022 P1 registration with Singaporean children within a 1km radius having to ballot, and located in a less populated area. To get an idea of how many kids are in the respective 1km radius of the schools, we looked at the population data from Singapore Land Authority and Department of Statistics. We narrowed our focus on the population of children aged 0-4, as these children will be in the 2-6 year old group when the next P1 registrations come around. It should be noted, however, that population data should only be taken as an estimation of the density of the areas surrounding these schools, as some planning subzones only have a small part within 1km, and kids in this age group may have moved to another area before starting primary school.
Anglo-Chinese School (Junior)
Condo prices within 1km
Nestled at Winstedt Road, ACS (Junior) is embraced by a variety of private residential dwellings. For the last 15 years, condo prices around 1km from the school have surged by 87.28%. As of August 2nd, new launch condos are recording an average of S$3,041 psf in 2021, catalyzed by The Atelier and Pullman Residences Newton’s successful transactions.
New launch condos within 1km of ACS (Junior) include:
For parents who are looking for an affordable home near ACS (Junior), purchasing a resale condo may be a great option, with prices currently averaging S$2,165 psf. Even with the relocation of ACS (Primary) to Tengah in 2039, the prime location of ACS (Junior) should continue to attract attention and maintain a desirable property value in the area.
Anglo-Chinese School (Primary)
Condo prices within 1km
Properties within 1km of Anglo-Chinese School (Primary) situated in the private residential area in Novena have also risen 90% in the past 15 years, with average prices currently hovering around S$2,891 psf – much like the newly launched condos close to ACS (Junior).
New launch condos within 1km of ACS (Primary) include:
In contrast, the prices of resale condos near the school stand at a rather high S$2,269 psf, so we do not believe the transition of the school to Tengah in 2030 will have a dramatic effect on property prices here.
Fairfield Methodist School (Primary)
Condo prices within 1km
Unlike the other educational institutions featured, the closest developments to Fairfield Methodist School (Primary) are mainly school compounds, such as ACS Independent and NUS, as well as one-north tech hub. This means there is a distinct lack of residential dwellings in the vicinity, leading to soaring property prices over the past 15 years, with prices jumping 143.14%. On 2 August, condo prices in the area hovered around an average of S$2,440 psf, with the opening of Blossoms by the Park further fuelling the appreciation.
New launch condos within 1km of Fairfield Methodist School (Primary) include:
Meanwhile, resale condo prices are averaging S$1,469 psf.
Raffles Girls’ Primary School
Condo prices within 1km
Raffles Girls’ Primary School, located in an area of lower population density, is another beloved primary school. In comparison to the other schools featured, there is a greater concentration of landed properties within one kilometer of RGPS. Additionally, as there have been no new launches in the region, the condo prices within one kilometer of the school have only increased a modest 49.53%, compared to those near the other featured popular schools. 99.co Researcher data reveals no sale transactions within one kilometer of RGPS this year, while the new launch prices averaged S$2,572 psf in 2022. On the other hand, resale condo prices are currently averaging S$1,842 psf, as of August 2.
However, parents keen on enrolling their girls in RGPS can look forward to two upcoming new launch condos within 1km:
Singapore Chinese Girls’ Primary School
Condo prices within 1km
Singapore Chinese Girls’ Primary School (SCGS) in the private residential area of Bukit Timah is another popular primary school that has seen a steep rise in nearby condominium prices over the past 15 years. This is due to the opening of the nearby Stevens MRT, as well as the presence of other quality schools in the area. In fact, the average price of new condos within 1km of SCGS this year is a staggering S$3,251 psf – an increase of 117.40%! The majority of sales are from Perfect Ten, further strengthening the appeal of the neighbourhood.
New launch condos within 1km of SCGS (Primary) include:
Meanwhile, condo resale prices are lower at S$2,357.
Should You Buy, Sell or Wait?
If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?
It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.
I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.
I can help you by:
- Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
- Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.
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