Singapore, 10 Feb 2023 THE move of a top primary school from Bukit Timah to Tengah in 2030 is set to boost interest and property values in the brand new town being built up in the west, said analysts on Thursday (Feb 9).
The relocation of Anglo-Chinese School (Primary) from its current Barker Road campus could also dampen nearby residential rents in the longer term, though the immediate impact would be minimal.
Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, noted that properties near “top schools” can draw a price premium of up to 15 per cent.
“In Singapore, many parents go to great lengths to secure a place in good schools by renting or paying top dollar for a nearby property. Many believe that their chances of getting their children in the school of choice will be significantly enhanced if they can move closer to these schools,” Sun said.
Still, Sun emphasised that these effects are more likely to be felt in the longer term. The properties sited close to ACS(P)‘s current campus at Barker Road are still in Orchard Road’s vicinity, which will help “prop up” their home values, she said.