Do international schools give a boost to prices of nearby condos

Examining the Resale Transactions of Condos Near International SchoolsIn this article, we will take a look at the resale transactions of condos within a 2km radius of international schools to see if their average prices and sales volumes receive a boost. The schools selected for this article are the Singapore American School (SAS), Overseas Family School (OFS), and Canadian International School (CIS).

Methodology
The international schools highlighted in this article are chosen for their large student populations and long standing status in Singapore. Moreover, the schools are geographically dispersed for a more accurate sampling of the condos within a 2km radius of each school. The residential properties examined only include condos that have obtained a temporary occupation permit (TOP). Executive condos with foreign ownership restrictions have been excluded, as have been condos sold via en bloc. Furthermore, only developments with at least five resale transactions in the past 12 months have been included.

Singapore American School
SAS, located on Woodlands Street 41, has an enrollment of over 4000 students from preschool to Grade 12, representing 65 nationalities, with 54% holding an American passport. Nearby amenities include Marsiling MRT Station, Marsiling Mall and Food Centre, as well as Woodlands Swimming Complex. Within 1km of SAS, there are three condos (618 units), and an additional four condos (1,804 units) between 1 to 2km away.

The average price range of the condos located in the 1km radius are between $896 and $1,218 psf, based on resale transactions in the last 12 months. Woodhaven accounts for the highest average price, while Woodgrove Condominium brings up the rear. A notable feature of Woodhaven is the presence of 39 landed units. Last year, the difference in the average prices for both Woodhaven and Parc Rosewood was slight, but this year Parc Rosewood ($1,282 psf) has grown beyond Woodhaven ($1,219 psf). The average prices for both developments have consistently trended above those of the other condos within the same district ($1,080 psf).

Within 2km of SAS, Parc Rosewood also has the highest number of resales (29 transactions). It also has a close proximity to the Seletar Expressway and the Singapore Sports School.

Overseas Family School
OFS is one of the largest international schools in Singapore and accommodates around 3000 students from kindergarten to Grade 12. The school is situated across Elias Mall along Pasir Ris Heights. nearby amenities include Pasir Ris West Plaza, Pasir Ris Park, and Pasir Ris Beach. Within 1km there are eight condos (4,413 units), with Ris Grandeur (453 units) excluded due to having few than five resale transactions in the last 12 months. Between 1km and 2km away, there are nine condos (2,102 units).

Parents looking for a home within 1km of OFS can expect to pay prices between $875 to $1,436 psf, as Coco Palms stands out with both the highest average price and the highest sales volume (35 transactions). It is conveniently located close to Pasir Ris MRT Station, Pasir Ris Bus Interchange, White Sands, and the upcoming Pasir Ris Mall. The only condo with a higher average price than Coco Palms in this proximity group is D’Nest, which also has the strongest number of resales (39 transactions). Both Coco Palms and D’Nest have approximately 900 units each and are 99-year leasehold developments located along Pasir Ris Grove in District 18.

Canadian International School
Since its Tanjong Katong Campus closed in June, CIS has been exclusively operating from its Lakeside Campus. It has around 3000 students representing over 70 nationalities and provides education from nursery to Grade 12. The school is located on Jurong West Street 41 and is within a 1km radius of Yuhua Market and Hawker Centre, Lakeside MRT Station, and Jurong Lake. There are seven condos (4,429 units). However, Lakeside Tower was excluded from the analysis due to the fewer than five sale transactions in the past 12 months, as it was proposed for en bloc sale in June. There are also seven condos (3,931 units) located between 1 to 2km away.

In terms of the condos within a 2km radius of CIS, J Gateway boasts the highest average price ($1,848 psf) and resale volume (33 transactions). The appeal of J Gateway might be tied to its proximity to Jurong East MRT Station, JEM, and Westgate. In the 1km radius, Lake Grande has the highest average price ($1,672 psf), edging out Lakeville ($1,572 psf) by $100 psf. Lake Grande and Lakeville share the top position in terms of sales volume with 26 transactions each. Lake Grande and J Gateway are both located in District 22, with approximately 700 units each, and are 99-year leasehold developments. The current average price for J Gateway ($1,908 psf) is $585 psf higher than leasehold condos in the same district ($1,323 psf).

We can see from this analysis that the average prices and sales volumes of the condos near international schools do receive a boost. Many of these condos command higher prices than those in the same districts, perhaps due to their closer proximity to various amenities.

Facilities such as a jacuzzi, gymnasium, and swimming pool enable residents to indulge in relaxation and recreation. Residents living in Havelock MRT Condo also have the convenience of public transport options, shopping centres, and schools located nearby. The addition of greenery and lush landscaping throughout the development’s grounds further enhances the quality of living. With all these features, Zion Road Condo is the perfect place to call home.

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