Will ACS (Primary) move turn Tengah into the new Bishan?

Will ACS (Primary) move turn Tengah into the new Bishan?

Feb 09, 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.

This is particularly so for homes within 1 to 2 kilometres (km) of the school, which might see prices that are 10 to 15 per cent higher than the district median price, as proximity gives parents priority in application for school places. For instance, the median condo resale prices within 1 km of ACS Primary was S$2,116 per square feet (psf) in 2022 – 18.1 per cent higher than the median resale price in its district at S$1,791 psf.

Since unveiling its masterplan for Tengah in 2016, the government has made available 17,000 Build-To-Order (BTO) flats in Tengah, launched in several batches since 2018. In the latest November 2022 exercise, 4-room flats were priced from S$307,000 and 5-room flats from S$428,000. A fresh batch of 1,640 BTO units in the estate is set to be launched this month.

A new executive condominium (EC) project coming up in Tengah – Copen Grand – sold 465 units, or 73 per cent of the project, at an average of S$1,300 psf on launch day in October 2022. The project, being built by City Developments Ltd and MCL Land, is now fully sold.

Two other EC projects in Bukit Batok West, which fall within 1 km of the new ACS site, are likely to see strong interest too when they hit the market in 2023 or 2024.

The Tengah estate, about the size of Bishan town, is the first new HDB town to be developed since Punggol was built over two decades ago.

“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.

A National University of Singapore study discovered that the loss of a Top 50 ranked school resulted in a price drop of 8.5 per cent for homes within 1 km of the school, and 12.2 per cent for homes within 1-2 km, according to Huttons senior research director Lee Sze Teck.

The reverse may be observed for an area that gained a Top 50 ranked school, said Lee.

Earlier on Thursday, the Ministry of Education announced the relocation and opening of six schools in the newer HDB estates of Punggol and Tengah to meet the needs of households there. ACS(P) at Tengah will be located together with a new special education school, for students with autism spectrum disorder who can access the national curriculum.

“The government will relocate good schools to a new HDB town,” said Lee. “For example, Nan Chiau Primary School was relocated to Sengkang in 2000, Mee Toh School to Punggol in 2004.”

Such moves are lauded in a country where “brand-name” schools tend to be clustered in prime residential areas, and moves away from those areas go a long way towards improving access and reducing inequity, say observers. But in the process, market values in the new locations also rise.

Raffles Institution and both the primary and secondary schools of Catholic High were relocated to Bishan in the 1990s, when the HDB town was still being built up. Since then, prices of HDB homes in the area have skyrocketed.

Based on HDB’s latest dataset, the median price of a four-room resale flat was S$669,400 in Q4 2022, and S$877,500 for a five-room resale flat. Outside of the central area, Bishan also holds the record for the highest number of million-dollar HDB flat transactions across all HDB estates.

Median rent in Bishan, meanwhile, ranged from S$2,600 to S$3,550 in Q4, depending on flat type.

Tengah’s appeal is also underpinned by the “forest town” master planning theme, with rich greenery and sustainable features, and the upcoming Jurong Region line, said Knight Frank Singapore head of consultancy Alice Tan.

“The relocation of ACS(P) to Tengah will undoubtedly add buzz about the prospect of living (in the area) for young families.”

Asked if the latest school move could be the start of a housing boom in Tengah, Lee said: “It is possible that the same trend may be observed.”

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.

The impact on home prices or rental demand in Bukit Timah or Newton is likely to be muted, said CBRE head of research for South-east Asia Tricia Song. This is because there are still “many other popular schools in the vicinity”, such as Singapore Chinese Girls School, Nanyang Primary, Anglo-Chinese (Junior) and Hwa Chong International School.

Knight Frank’s Tan said interest in Tengah will also hinge on accessibility to upcoming train stations and amenities such as neighbourhood centres with food and beverage, retail shops and recreational facilities.

https://www.businesstimes.com.sg/pro...gah-new-bishan

Relocation of ACS schools: Analysts expect downward pressure on Newton property prices, opposite effect in Tengah

February 10, 2023

- On Thursday, Anglo-Chinese School (ACS) announced that ACS (Primary) will relocate from Barker Road to Tengah in 2030

- Its other school, ACS (Junior), will move from Winstedt Road to Barker Road by 2039

- Property analysts said property prices around the Winstedt Road could lower, but not substantially given that it is located near Orchard Road

- The relocation of ACS (Primary) will likely push up home prices in Tengah up by 15 per cent, although the impact will not be felt immediately, they said

SINGAPORE — The future relocation of Anglo Chinese School (Junior) from Winstedt Road to Barker Road is likely to result in downward pressure on property prices around its existing site in the Newton Road area.

On the other hand, home prices in Tengah are expected to go up with Anglo Chinese School (Primary) moving to the new town in the western part of Singapore in 2030, property analysts said.

They were responding to queries from TODAY after the announcement of the relocations of both schools by Anglo-Chinese School (ACS) on Thursday (Feb 9) morning.

ACS (Primary) is a popular school on Barker Road in the prime district of Bukit Timah and has a reputation for drawing students who come from families from higher socioeconomic backgrounds, especially since its current location is one dominated by private housing.

It was also announced that ACS’ other primary school, ACS (Junior), will eventually move to Barker Road by 2039 from its present location on Winstedt Road in Newton. Barker Road is a seven-minute drive away from Winstedt Road.

The two ACS schools are similar but ACS (Primary) offers the Gifted Education Programme, which is a national education programme that caters to intellectually gifted students.

Ms Christine Sun, senior vice-president of research and analytics at property firm OrangeTee and Tie, said that properties near popular schools are "highly sought after" by both investors and owner-occupiers.

"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," she said.

This is because parents believe that the chances of getting their children into elite schools "will be significantly enhanced" based on the Government's policy of giving priority admission to those who live nearer to their preferred schools.

Ms Wong Siew Ying, head of research and content at PropNex Realty, said that ACS (Junior)’s move to Barker Road could potentially lower the home prices and rentals of homes in the Winstedt Road area.

However, it may not be substantial since demand should still be healthy given the area’s proximity to Newton MRT Station and the tourist and shopping district of Orchard Road.

She said that she expects home values and rents in the Barker Road area to hold up.

Ms Sun similarly believes that ACS (Primary) moving out of Barker Road may have some impact on housing prices in the area, but this “may not be too major in the short term”.

This is because there are still many years until the school vacates.

She does not expect much impact on property prices for homes around Winstedt Road for the same reasons.

Rental demand for properties near Newton on Winstedt Road and Barker Road may slowly decrease, but it will not be too significant because there are many other popular schools in the Bukit Timah area that may help to draw rental demand, she added.

Some of such schools are Singapore Chinese Girls’ Primary School and Nanyang Primary School.

IMPACT ON PROPERTY PRICES IN TENGAH

Property analysts said that moving ACS (Primary) to Tengah will likely push up home prices in the new town up by about 15 per cent, although the impact will not be felt immediately since the area is still under development.

Ms Sun estimated that the move will bump up the prices of homes within 2km of the school. Prices of homes within 1km could go up by 10 to 15 per cent higher than the district average price.

She said that past studies by her company had found that resale prices of homes near popular schools tend to rise faster than others in the district, with those located near such schools drawing a premium of up to 15 per cent.

“I think future Tengah Build-to-Order (BTO) applications may rise especially if the flats are within 1km to 2km from the school," she added.

“Those who bought in earlier phases will also enjoy the first mover advantage of drawing rental interest since their BTO flats will be completed first.”

Ms Wong of PropNex said that ACS (Primary)’s relocation will draw more young couples and families to the estate.

However, the impact on property prices in Tengah will not be immediately felt since the area is still under development, she added.

Mr Nicholas Mak, head of research and consultancy at ERA Real Estate, cautioned against overplaying the effect of the school's move to Tengah, adding that he expects an increase in prices by a single digit percentage.

This is because the relocation will only increase the appeal of the estate to families with school-going children.

He added that other factors will influence the prices of homes in Tengah, such as improvements in the infrastructure there as well as Singapore's economic outlook.

https://www.todayonline.com/singapor...tengah-2104606

Here are all the properties within 1km of the new ACS (Primary) in Tengah

February 12, 2023

The relocated ACS Primary will start operations in 2030 with only new Primary 1 pupils, in other words, those born in 2023.

Anglo-Chinese School (Primary) will be relocating to Tengah, more than 12km from its current home in Barker Road.

For parents who have bought or rented a property within 1km of ACS (Primary) at Barker Road to secure a place for their sons, don’t worry too much about this, as the move will only take place in 2030. Plus, there’s another ACS in Bukit Timah, which is ACS (Junior) at the nearby Winstedt Road.

Given the long distance to the new location, boys admitted in ACS (Primary) until 2029 will remain at the Barker Road campus until Primary 6. On top of that, the Barker Road campus will still accept new Primary 1 students, as long as they have older brothers studying there.

As the cohort size falls, the school will eventually be consolidated with ACS (Junior) at Winstedt Road tentatively in 2033. The school will operate under ACS (Junior) from both campuses, before shifting to the Barker Road campus in 2039.

Higher property prices in Tengah

Meanwhile, this is good news for those who have secured a unit in Tengah, mainly from the BTO projects or Copen Grand EC which is now fully sold. Given the popularity and “elite” status of ACS (Primary), property owners can expect an increase in property value and higher rental demand after the five-year MOP (huat ah!).

As living within a 1km radius gives priority in balloting for a place, demand for homes near popular schools has pushed up property prices.

In fact, Wong Siew Ying, Head of Research and Content at PropNex Realty, noted that the average price of non-landed private homes within 1km of ACS (Primary) in Barker Road was $2,451 psf in 2022. This is about 13.3 per cent higher than the District 11 average of $2,164 psf.

The relocation of a good school can also affect property prices nearby. An NUS study found that private home prices within 1km of the relocated good school have declined as high as 8.5 per cent, and 12.2 per cent within 1-2km. At the same time, the relocations led to price increases in the new area.

Nevertheless, home prices near the Barker Road campus shouldn’t be too affected, since ACS (Junior) will eventually move there.

It will also take some time to see the impact on property prices in Tengah, since the area is still under development. Most of the residential projects are also HDB flats, with Copen Grand currently the only EC launched for sale in the new estate.

Not the first time a good school was moved to a new housing estate

While it’s said that the move to Tengah is to serve the wider community, it could also be a way to attract more families to set up a home in the new housing estate.

In fact, ACS (Primary) isn’t the first good school to move to a new HDB town.

“It was observed that the Government will relocate good schools to a new HDB town. For example, Nan Chiau Primary School was relocated to Sengkang in 2000, Mee Toh School to Punggol in 2004,” Lee Sze Teck, Senior Director of Research at Huttons Asia commented.

A Business Times article also pointed out that in the 1990s, Raffles Institution, and Catholic High School (Primary and Secondary) were relocated to Bishan, when the town was still being built up. Raffles Junior College later moved there in 2004, followed by Raffles Girls’ School in 2019 (remember the RGS spokesman’s comment about the move “to reach out more to the ordinary Singaporean”?).

(Given the timing of the announcement, maybe this is a way to divert some demand away from the Kallang/ Whampoa BTO at Farrer Park? After all, we’re in the BTO season, and the February 2023 BTO sales exercise should be launching anytime now.

Or is the relocation a way to boost the declining birth rate, especially for young couples setting up a home in Tengah? We note that next year will be the Year of the Dragon — the year when more babies tend to be born in Singapore. 2030 will also be the year these kids are registered for Primary One.)

With the relocation, which properties will be within 1km of the new ACS (Primary) campus in Tengah?

From the 2022 Primary One Registration onwards, the home-school distance is now calculated based on the school boundary, instead of the centre of the school.

However, this will also depend on the design of the school. According to MOE’s press release, the actual distance will be confirmed and made available on the OneMap SchoolQuery function.

In the meantime, based on MOE’s press release, the URA master plan and OneMap, we’ve figured out some of the properties in Tengah that fall within the 1km radius. Aside from Copen Grand, these are all BTO.

https://i.imgur.com/vVgzadO.jpg

Parc Glen (TOP: 2024)
Parc Clover (TOP: 2024)
Parc Residences (TOP: 2025)
Plantation Village (TOP: 2024)
Plantation Grove (TOP: 2024)
Plantation Grange (some blocks fall within 1-2km) (TOP: 2023)
Plantation Acres (some blocks fall within 1-2km) (TOP: 2023)
Parc Woods (TOP: 2025)
Parc Flora (TOP: 2025)
Garden Vale (TOP: 2024)
Garden Vines (TOP: 2024)
Garden Terrace (some blocks fall within 1-2km) (TOP: 2024)
Garden Court (some blocks fall within 1-2km) (TOP: 2024)
Garden Bloom (some blocks fall within 1-2km) (TOP: 2025)
Copen Grand (TOP: 2027)
February 2023 BTO (some blocks fall within 1-2km)

It’s not just properties in Tengah that are within a 1km radius of the school. There are a few projects in Bukit Batok that are within the radius as well.

West Scape (TOP: 2022)
West Edge (TOP: 2019)
West Ridges (some blocks fall within 1-2km) (TOP: 2019)
West Plains (some blocks fall within 1-2km) (TOP: 2020)
West Hill (some blocks fall within 1-2km) (TOP: 2026)
Le Quest (some blocks fall within 1-2km) (TOP: 2020)
Bukit Batok West Avenue 5 EC
Bukit Batok West Avenue 8 EC

https://www.asiaone.com/money/here-a...primary-tengah

Will ACS (Primary) move turn Tengah into the new Bishan?

Feb 09, 2023

UPDATED Mar 08, 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.

This is particularly so for homes within 1 to 2 kilometres (km) of the school, which might see prices that are 10 to 15 per cent higher than the district median price, as proximity gives parents priority in application for school places. For instance, the median condo resale prices within 1 km of ACS Primary was S$2,116 per square feet (psf) in 2022 – 18.1 per cent higher than the median resale price in its district at S$1,791 psf.

https://www.businesstimes.com.sg/embed/6322049674112

Since unveiling its masterplan for Tengah in 2016, the government has made available 17,000 Build-To-Order (BTO) flats in Tengah, launched in several batches since 2018. In the latest November 2022 exercise, 4-room flats were priced from S$307,000 and 5-room flats from S$428,000. A fresh batch of 1,640 BTO units in the estate is set to be launched this month.

A new executive condominium (EC) project coming up in Tengah – Copen Grand – sold 465 units, or 73 per cent of the project, at an average of S$1,300 psf on launch day in October 2022. The project, being built by City Developments Ltd and MCL Land, is now fully sold.

Two other EC projects in Bukit Batok West, which fall within 1 km of the new ACS site, are likely to see strong interest too when they hit the market in 2023 or 2024.

The Tengah estate, about the size of Bishan town, is the first new HDB town to be developed since Punggol was built over two decades ago.

“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.

A National University of Singapore study discovered that the loss of a Top 50 ranked school resulted in a price drop of 8.5 per cent for homes within 1 km of the school, and 12.2 per cent for homes within 1-2 km, according to Huttons senior research director Lee Sze Teck.

The reverse may be observed for an area that gained a Top 50 ranked school, said Lee.

Earlier on Thursday, the Ministry of Education announced the relocation and opening of six schools in the newer HDB estates of Punggol and Tengah to meet the needs of households there. ACS(P) at Tengah will be located together with a new special education school, for students with autism spectrum disorder who can access the national curriculum.

“The government will relocate good schools to a new HDB town,” said Lee. “For example, Nan Chiau Primary School was relocated to Sengkang in 2000, Mee Toh School to Punggol in 2004.”

Such moves are lauded in a country where “brand-name” schools tend to be clustered in prime residential areas, and moves away from those areas go a long way towards improving access and reducing inequity, say observers. But in the process, market values in the new locations also rise.

Raffles Institution and both the primary and secondary schools of Catholic High were relocated to Bishan in the 1990s, when the HDB town was still being built up. Since then, prices of HDB homes in the area have skyrocketed.

Based on HDB’s latest dataset, the median price of a four-room resale flat was S$669,400 in Q4 2022, and S$877,500 for a five-room resale flat. Outside of the central area, Bishan also holds the record for the highest number of million-dollar HDB flat transactions across all HDB estates.

Median rent in Bishan, meanwhile, ranged from S$2,600 to S$3,550 in Q4, depending on flat type.

Tengah’s appeal is also underpinned by the “forest town” master planning theme, with rich greenery and sustainable features, and the upcoming Jurong Region line, said Knight Frank Singapore head of consultancy Alice Tan.

“The relocation of ACS(P) to Tengah will undoubtedly add buzz about the prospect of living (in the area) for young families.”

Asked if the latest school move could be the start of a housing boom in Tengah, Lee said: “It is possible that the same trend may be observed.”

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.

The impact on home prices or rental demand in Bukit Timah or Newton is likely to be muted, said CBRE head of research for South-east Asia Tricia Song. This is because there are still “many other popular schools in the vicinity”, such as Singapore Chinese Girls School, Nanyang Primary, Anglo-Chinese (Junior) and Hwa Chong International School.

Knight Frank’s Tan said interest in Tengah will also hinge on accessibility to upcoming train stations and amenities such as neighbourhood centres with food and beverage, retail shops and recreational facilities.

https://www.businesstimes.com.sg/pro...gah-new-bishan