Rental resale costs inside 1km of the varsity’s Barker Highway website have been S$2,116 per sq. foot (psf), about 18 per cent larger than the median resale worth in District 11 (S$1,791 psf) in 2022, mentioned Ms Solar.
She expects costs of properties inside 1km of the brand new college location in Tengah to be 10 to fifteen per cent larger than the district common worth.
“The moving of a popular primary school, especially changing it to a co-ed school, will benefit the residents in Tengah. However, not all homes will experience a rise in value. It is likely to enhance the value of homes within 1km to 2 km of the school,” mentioned Ms Solar.
The influence on property costs in Tengah may even not be instantly felt as the realm continues to be below growth, with a lot of the housing tasks below the HDB, mentioned Ms Wong Siew Ying, head of analysis and content material at PropNex Realty. The Copen Grand EC, which was launched final 12 months, is totally bought.
“Given the popularity of the school, we reckon it will help to support demand for homes and leasing prospects in Tengah in the years to come. So, there is a good chance that this will help to push up home prices.”
GOOD SCHOOLS RELOCATED TO NEW TOWNS
Huttons senior director of analysis Lee Sze Teck mentioned that the relocation is sweet information for consumers of BTO flats and Copen Grand EC in Tengah.
“This may boost the application rate of flats in Tengah in the February BTO exercise. It may even lower the rejection rate of BTO flats,” he mentioned.
He noticed that the Authorities has been relocating in style colleges to new HDB cities. For instance, Nan Chiau Main College was relocated to Sengkang, and Mee Toh College to Punggol.
“In the long run, it may increase the attractiveness of Tengah and attract more young families. This has been observed for Sengkang and Punggol. Rents of homes with 1km of ACS (Primary) may be up to 10 per cent more than those outside the 1km,” he mentioned.
Mr Lee mentioned that there are two govt condominium websites alongside Bukit Batok West Avenue 5 and Avenue 8 that will probably be launched on the market in 2023/24, and these might even see extra purposes from younger households.
There’s additionally an present non-public condominium, Le Quest, that will garner extra curiosity from potential consumers and tenants when ACS (Main) strikes to Tengah.
Ms Solar thinks households could contemplate staying longer in Tengah as a result of college. It is because many households have a tendency to maneuver away from non-mature estates to enrol their kids in in style colleges in different areas.
“The shifting of ACS (Primary) – which is popular and known as an ‘elite’ school – to the heartlands is a move in the right direction, as it will offer more equal access to the school,” mentioned Propnex’s Ms Wong.
“We think the relocation … will increase the appeal of Tengah, and draw more young couples and families to the new estate.”
LITTLE IMPACT ON BARKER ROAD PROPERTIES
Apart from the transfer to Tengah, a second ACS college – ACS (Junior) will transfer from Winstedt Highway to Barker Highway, however the transfer will solely be accomplished round 2039.
The secondary college, ACS (Barker Highway) which shares the location with ACS (Main), continues to be at Barker Highway.
Analysts didn’t assume that the influence on property costs at Barker Highway or the Winstedt space will probably be main as there are different causes to purchase properties there, however mentioned that rents may fall when the strikes occur.
“It could potentially weigh on the home prices and rentals of homes in the Winstedt Road area, although it may not be substantial since demand should still be healthy given its proximity to the Newton MRT station and Orchard Road,” Ms Wong mentioned.
“Meanwhile, home values and rents in the Barker Road area are expected to hold up.”
She added the common worth of non-landed non-public properties inside 1km of ACS (Junior) at Winstedt Highway was S$2,327 psf in 2022 – about 7.5 per cent larger than the District 11 common.
Mr Lee thinks that in the long term, when ACS (Junior) strikes to the Barker website, there could also be an influence on the rents of properties by as much as 10 per cent across the Cairnhill space close to Winstedt Highway.
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