Do HDB Flats Near Popular Primary Schools Really Cost More?
Many parents purchase homes near good primary schools in hope to get their child into their desired primary school. Forget Nanyang Primary School, Methodist Girls’ School etc. You can hardly find any HDBs houses that are within 1km of these schools. Instead, we will explore 5 popular primary schools that are nestled amongst the HDBs.
Some parents go to great lengths to admit their children into good primary schools, with cases of parents lying about their address just to gain admission into the school of their choice. It may be fair to think that there will be parents who choose the location of their homes just to enrol their child into a “good” primary school.
Here’s What We Found
We compared the prices of HDB flats closest to 5 popular primary schools against the median transacted price of a flat of the same type in the same quarter in the district.
*Median transacted price data taken from HDB
*Transacted price for nearest block from PropertyGuru
With the exception of those highlighted in red, the transacted price for the blocks nearest to the school are actually not more expensive than the median transacted price for the district. It does seem that flats do not actually command a premium just because there is a popular primary school within close proximity. Parents do not really buy a HDB because they want to get their kids into that school.
If you are thinking of choosing a home close to a good school, you might be in for a pleasant surprise. However, if you are looking for a home close to a good school for investment purposes, you might want to reconsider since it does not really make your flat more valuable, unlike having an MRT station close to your house.
Note that our conclusion is based on a sampling of 5 popular primary schools and is not necessarily representative of patterns in the property market all around Singapore.
Also, there might be some factors that might not been taken into consideration since there are other ways parents can increase the chances of their child entering a popular primary school. They can either rent a house close to those schools or be a parent volunteer.
The post Do HDB Flats Near Popular Primary Schools Really Cost More? appeared first on DollarsAndSense.sg.