Singapore, 11 Feb 2023 SINGAPORE - The relocation of Anglo-Chinese School (Primary) from its current Barker Road campus in Newton to Tengah in 2030 will likely boost interest in upcoming homes in the new town, said property analysts.
They predicted that future Build-To-Order (BTO) projects in Tengah would see an increase in applicants, particularly for those located within 2km of the new ACS (Primary). Two upcoming executive condominium (EC) projects in Bukit Batok West, which fall within 1km of the school, are expected to see higher demand as well.
OrangeTee & Tie senior vice-president of research and analytics Christine Sun said properties near popular schools can draw a price premium of up to 15 per cent, and their prices tend to rise faster than those of others in the same district, based on transaction data from recent years.
For instance, condo resale prices within 1km of ACS (Primary) at the current Barker Road campus in District 11 of Newton and Novena are around $2,116 per sq ft (psf) – about 18.1 per cent higher compared with the median resale price of $1,791 psf in the same district, said Ms Sun.