Do international schools give a boost to prices of nearby condos
In this article, we look at the resale transactions of condos within a 2km radius of international schools within Singapore, with an aim to determine whether the average prices and sales volumes of these condos receive a boost. To do this, we have chosen international schools that have large student populations and are geographically dispersed, along with condos that have obtained a temporary occupation permit (TOP) and have at least five resale transactions in the past 12 months. We will focus on the Singapore American School (SAS) and the Overseas Family School (OFS), as well as the Canadian International School (CIS).
Within a 1km radius of SAS, there are three condos (618 units). Woodhaven commands the highest average price of $1,218 psf, with over half of the total sales transactions also taking place at this development. Parc Rosewood has the highest average price range for condos located between 1km and 2km away at $1,242 psf. Notably, the average prices of condos within a 2km radius of SAS consistently trend above those of condos in the same district.
Tengah Plantation Close EC is a new Executive Condominium located near to multiple MRT stations. In addition to the nearby Bukit Batok and Hillview stations, the Bukit Panjang station is only a 5-minute walk away. Residents of this condominium will enjoy convenience to both amenities and transportation. The nearby HillV2 and Junction 10 shopping malls offer a variety of dining and shopping options.
In addition, Tengah Plantation Close EC is also well served by multiple bus services. The nearby Bukit Batok Interchange provides access to various parts of the city, while the nearby Bukit Timah Bus Interchange offers access to the East Coast. Other bus services that pass through the area include the 166 and 990. With even more convenience and transportation options available, Tengah Plantation Close EC offers an ideal lifestyle for its residents.
At OFS, there are a total of eight condos (4,413 units) within a 1km radius, and seven completed condos (2,102 units) between 1km and 2km away. Coco Palms stands out with both the highest average price and the highest sales volume in the last 12 months (35 transactions). Of the two condos in the 1km to 2km proximity group, D’Nest commands a higher average price ($1,318 psf) as well as greater resale volume (39 transactions).
Within a 2km radius of CIS, the average resale price for J Gateway ($1,848 psf) comfortably exceeds that of the other condos. It has also achieved the highest resale volume with 33 transactions over the past 12 months. Additionally, Lake Grande claims the highest average price ($1,672 psf) among the seven condos within 1km of CIS. It shares the top position in terms of sales volume with Lakeville (26 transactions).
In summary, condos located closer to international schools tend to have higher average prices and higher sales volumes. This could be attributed to their greater proximity to amenities like MRT stations, shopping malls, and food centres. Notably, the average prices of these condos consistently trend higher than corresponding condos from the same districts.