For many parents, the beginning of their child’s formal education commences in primary school. To many, this is a pivotal moment in their lives, as Primary School Leaving Examinations help determine their future path in secondary school and beyond.
The Ministry of Education prioritises a child’s admittance to a school based on the distance from their home.
The following below are the guidelines set by the Ministry of Education (MOE):
- Singapore Citizens (SC) living within 1km of the school.
- SCs living between 1km and 2km of the school.
- SCs living outside 2km of the school.
- Permanent Residents (PR) living within 1km of the school.
- PRs living between 1km and 2km of the school.
- PRs living outside 2km of the school.
Source: MOE
In this edition we will cover properties surrounding Rosyth School, focusing on residential developments that fall within the 1km radius as well as transactions in the past 10 years with sufficient transactional data available. This will provide a comprehensive view of how prices have changed over the years and if being in close proximity to a top school plays a role in the value of the property.
Let’s take a quick look at the area surrounding Rosyth School:
School: Rosyth School
Property type: residences within 1km of school
District: 19
Nearest MRT: Kovan MRT Station (Est.1.8 km)
Rosyth School has a rich history and lineage that started in 1956. It was originally located at Rosyth Road from which it derived its name. To cater to an increasing student population, the school was relocated to Serangoon North Avenue 4 in 2001, as part of the Serangoon estate. The school has won numerous awards and accolades. The school is surrounded by a good mix of public and private residences.
Serangoon offers a wide range of amenities and connectivity through various transport nodes. Some of the well known facilities in the area include the Nex shopping mall, Chomp Chomp food centre – just to name a few. Rosyth School is also closely situated near the MyVillage shopping mall and in close proximity to Hougang Mall as well.
Stable growth in prices amidst limited number of new launches
New condominium prices grew from $1,582 psf in 2020 to $1,651 psf in the first 11 months of 2021. That’s a 4.4% (y-o-y) growth in prices between the two years.
In recent years, the number of new launches around Rosyth School have been scarce. The most recent new launches were Affinity At Serangoon, The Garden Residences, The Gazania and The Lilium, which were launched between 2018 and 2019.
Higher number of freehold resale transactions
Meanwhile, resale prices rose from $1,227 psf in 2020 to $1,300 psf in the first 11 months of 2021, a 6.0% (y-o-y) increase. This can be attributed to a higher number of freehold resale transactions taking place in the area.
The number of freehold resale condominium transactions have grown in the past 3 years. It increased from 60 resale transactions in 2019 to 172 units transacted in the first 11 months of 2021.
Healthy demand towards 4 & 5-Room HDB resale flats in Serangoon
Rosyth School is located in the heartlands of Serangoon. It is primarily surrounded by several public housing units in the neighbourhood. In the first 11 months of 2021, demand for 4-room, 5-room and executive flats have seen an upward trend. The average remaining lease for these flats are in the range of 66 to 69 years.
We looked at the average HDB resale prices of Serangoon with the neighbouring estate of Hougang, to observe how prices compare. Average prices of both 4-room and 5-room resale flats in Serangoon are marginally higher as compared to the flats in Hougang. However, the prices are at a reasonable range if you are intending to buy at Serangoon or Hougang.
Improving connectivity
One of the improvements that is expected in the Serangoon area is the upcoming Cross Island Line (CRL) MRT station. It was announced to cater to existing and future developments in the eastern, western and north-eastern corridors. Construction has commenced for the first phase, which consists of 12 stations from Aviation Park to Bright Hill. One of the newer stations will be the Serangoon North station, estimated to be about 300-320m away from Rosyth School.
Once completed around 2030, You can easily travel from east to west. The North-South Line is 2 stations away at Ang Mo Kio or you could travel to Pasir Ris, which is 4 stations away from Serangoon North, and hop on the East West Line conveniently.
Surrounding properties near Rosyth School
We conducted research based on the availability of transaction data over a 10-year period for properties that are within the 1km radius of Rosyth School. These projects were analysed to understand the price changes in this time period.
Properties closer to the school have seen a growth in prices over the years. The above table is arranged in descending order starting from the highest price change. Among properties within 1km, Nanyang Park had the highest price surge between 2011 and 2021, rising from $780 psf in 2011 to $1,115 psf in 2021 – a 43.0% increase. It is a landed property.
Notably missing from the list are two projects – Hundred Palms Residences and The Garden Residences. Hundred Palms Residences is an Executive Condominium that was launched in 2017, and fully sold out its 531 units. It was launched at an average price of $842 psf and eventually climbed to a price of $1,178 psf in 2020. As the EC was only completed in 2020, it can only be sold 5 years from the TOP date.
The Garden Residences was launched in 2018, with an average price of $1,634 psf. That development was fully sold out in 2021.
In addition, Rosyth School is also surrounded by HDB flats, we take a look at the price movements of these units as well:
Looking at the streets that are close to Rosyth school, the average prices of 4-room flats have seen an increase between 2011 and 2021. With the highest increase coming from the resale flats at Serangoon North Avenue 3. Average prices rose by 12.9% in 2021, increasing from $403.1k in 2011 to $454.9k in 2021. Serangoon North Avenue 3 is about 280-300m away from Rosyth School as well. Serangoon North Avenue 4, which is the same street that Rosyth School is at, had the second highest price change.
On the other hand, 5-room HDB resale flats at Serangoon North Avenue 2 had a higher percentage change in average prices. A growth rate of 22.5%, with average prices rising from $474.3k to $580.8k in 2021.
Notable properties near Rosyth School
The following properties below lacked the 10-year transactional data criteria that Ohmyhome sets, but we believe these are notable mentions worth checking out. Let’s start with Affinity At Serangoon.
1. Affinity At Serangoon
Project details:
Property Type: Apartment / Landed
Developer: Oxley Holdings Limited
Tenure: 99-year leasehold
TOP: 2024 (expected)
Launch Date: 2019
Total units: 1,052
Distance to Rosyth School : Est. 820-840m
Nearest MRT station: Est. 1.4-1.5km to Kovan MRT station (North-East Line) / Est. 560-580m to future Serangoon North MRT station (Cross Island Line)
This is a 99-year leasehold development located at Serangoon North Avenue 1, offering a total of 1,052 units. The project is developed by Oxley Holdings Limited, a Singaporean property developer entity. It has won numerous awards for its developments across the region.
The development has an eclectic mix of condominium and strata landed housing units. It has about 40 exclusive 4 to 5 bedroom strata landed houses and 7 blocks of 1 to 4 bedroom apartments. There is something for everyone.
It is a short walking distance to the upcoming Serangoon North Station. There is a wide range of amenities that are nearby. This includes Chomp Chomp Food Centre, NEX Shopping mall, MyVillage shopping centre, Heartland Mall and Serangoon Community Park – just to name a few.
Affinity at Serangoon was launched in 2018 with a total of 1,005 units transacted to-date. Average launch prices for apartment units were at the $1,600 psf mark and the landed units were at the $1,100 psf mark.
However, looking at the first 11 months of 2021, the prices have dipped slightly to a more affordable range. For apartment units, average prices were transacted at price points between $1,504 psf to $1,610 psf. Meanwhile,landed units’ average price were in the range of $1,096 psf to $1,187 psf.
Suggested available unit(s) at Affinity At Serangoon:
3BR, 861 sq ft, $1.2m ($1,481 psf)
3BR, 904 sq ft, $1.3m ($1,489 psf)
4BR, 1,410 sq ft, $2.1m ($1,507 psf)
Neighbouring properties:
The Florence Residences, 4BR, 1,270 sq ft, $1.7m ($1,387 psf)
The Florence Residences, 4BR, 1,389 sq ft, $1.9m ($1,383 psf)
The Garden Residences, 3BR, 904 sq ft, $1.7m ($1,902 psf)
2. Regentville
Project details:
Property Type: Condominium
Developer: Serenity Properties Pte Ltd
Tenure: 99-year leasehold
TOP: 2000
Total units: 580
Distance to Rosyth School: Est. 370-390m
Nearest MRT station: Est 1.7 km to Hougang MRT station (North-East Line) / Est. 600-650m to future Serangoon North MRT station (Cross Island Line)
If closeness to school is the most important consideration for you and you don’t mind getting a resale condominium, then Regentville could be something that you could consider.
Regentville is a 99-year leasehold condominium development as part of district 19. The project contains a total of 580 units and it was completed in 2000. This development is even closer to Rosyth School than Affinity At Serangoon.
One of Regentville’s standout features is that it has multiple pools within the development. It is very family friendly and it has a children’s pool as well. The nearest malls to the development is Hougang 1, offering a wide range of dining and grocery options.
Average resale prices have mostly remained in the $700-800 psf range. This is in line with the resale prices in District 19 for projects that were completed in 2000. In fact, average resale prices at Regentville are more attractively priced as compared to other projects that were completed in 2000 at District 19.
Despite being a resale development that is 21 years old, Regentville has garnered more interest in recent times. Resale transactions grew from 13 units sold in 2020 to 42 transactions in the first 11 months of 2021. This is a testament to the advantages of living close to a top primary school.
Suggested available unit(s) at Regentville:
2BR, 1,044 sq ft, $890k ($852 psf)
Neighbouring properties:
Kensington Park Condominium, 4BR, 1,658sq ft, $2.6m ($1,568 psf)
Mimosa Park, 4BR, 2,157 sq ft, $2.5m ($1,182 psf)
3. HDB Resale Flats at Serangoon North Avenue 4
Property Type: HDB Resale
Flat types: 4-Room, 5-Room, Executive
Total units: 684
Completion date: 2017
Distance to Rosyth School: Est. 280-300m
Nearest MRT station: Est 1.7 km to Kovan MRT station (North-East Line) / Est. 390-450m to future Serangoon North MRT station (Cross Island Line
If you are thinking of an HDB resale option, you can take a look at the numerous blocks at Serangoon North Avenue 4. These flats are stone’s throw away from Rosyth School. The HDB resale flats in this street have an average remaining lease of 70 years.
Several blocks at Serangoon North Avenue 4 have had active transactions recently, with 4-room flats selling around the range of $400k to $520k. Meanwhile, 5-room flats were fetching in the range of $548k to $710k. Despite its short distance to a popular school such as Rosyth, the prices of these HDB resale flats are reasonably positioned.
If you are looking for bigger sized flats, you can dip your toes in Executive flats that are in the street as well. The average prices of these flats are comparable to the executive flats at Hougang.
Suggested available unit(s) at Serangoon North Avenue 4:
Block 519, Executive, 1,582 sq ft for $820k ($518 psf)
Block 532, 4R, 1,313 sq ft for $578k ($440 psf)
Neighbouring properties:
310 Serangoon Avenue 2, 5R, 1,302 sq ft for $708k ($544 psf)
324 Serangoon Avenue 3, 4R, 1,119 sq ft for $668k ($597 psf)
Verdict
In terms of condominium options, Affinity At Serangoon holds the upper hand. The development caters to all family types and It offers over 80 recreational facilities within the development. It’s also a relatively new launch that is completing in 2024. If you are planning ahead, this would be the development for you.
On the other hand, if you are keen on a HDB resale option with a bigger space, the blocks at Serangoon North Avenue 4 would be a better match. The attractive price points makes it less strenuous on finances and Rosyth School is located within walking distance to your home.
Owning a property near a top school does have its perks, since priority is given to students who live close to it. However, as a parent there are various considerations to undertake to ensure a smooth transition for the child as well.
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