Condo near Rosyth primary – Investment review

condo near rosyth primary

Table of Contents

Introduction

Kudos to you for making it here, most prospective home buyers would let their emotions take control, jump straight into property portals and start looking at available listings.

The fact that you are actively researching for properties around Rosyth primary, you are most probably trying to achieve one or both of these objectives.

  • Get your child into Rosyth primary school
  • Make money from property

If that’s your goal then we share the same belief of turning our properties into cash generating machines that can help us elevate our lifestyles, and not a life sapping liability that would chain us down to our 9 to 5.

The focus of this article

This article focuses on helping prospective buyers understand the pros and cons of the different condo developments within a 1km radius of Rosyth Primary school. The goal is to help you find a property that possesses the most desirable attribute that your future buyer will pay a premium for.

A little bit about ourselves

We are a team of property investors turned full time realtors. We specialise in decoupling property, helping homeowners like yourself own investment properties without ABSD.

A large part of our value add and scope revolves around helping our client shortlist properties best suited for their investment and lifestyle needs.

If reading is not your thing and you would like to outsource the heavy lifting to a specialist, feel free to drop us a message.

Overview of Serangoon North

I know we are for Rosyth primary school, no one cares about Serangoon North. Sadly, this is not far from the truth, the key draw to properties in Serangoon North is indeed Rosyth primary.

Aside from that, the other potential complementary price catalyst would be the completion of the Serangoon North MRT station in 2030. This greatly enhances accessibility for condo developments in Serangoon North. At this point, residents would have to rely on Serangoon MRT or Hougang MRT as their primary MRT station for daily commute.

From a URA planning perspective, there are no residential land plot curves out for future GLS sales. So from a price catalyst standpoint, there will not be any direct price stimulus from new launches to set new benchmark prices in the foreseeable future.

So buying into a property in Serangoon North hinges on a very different price catalyst as compared to buying into properties in Jurong east, Tengah and Lentor area.

URA Masterplan - Rosyth School and Serangoon North

Since all the attention is on Rosyth primary school, it won’t hurt to consider if the worst case scenario of Rosyth primary school moving will ever happen.

Is there a risk of Rosyth primary school moving ?

After all, ACS primary is scheduled to move from its current location in Newton to Tengah in 2030.

In short, the risk of Rosyth primary moving is extremely low. The reasons why reputable primary schools move is primarily to promote diversity and accessibility for Singaporeans of different income brackets.

Rosyth is currently situated in Serangoon North, which comprises a pretty good mix of Singaporean from different income brackets living both in HDB and private condo.

This should appease those of us pondering on the worst case scenario.

Future exit buyer profile for condo around Rosyth primary school

The key starting point for good property research begins with identifying who will be your future buyer and start purchasing the property from their lens.

The buyer profile for condos around Nan Chiau primary and Rosyth Primary will differ greatly from the buyer profile of condos around ACS primary or Henry Park primary.

Primary exit buyer attributes

  • Middle income family with 1 or 2 child
  • Key motivation to relocate is to get their child into Rosyth primary school
  • Will prioritise affordability over luxury
  • Functional layout could be important to house helper, kids stuff and more kids stuff
  • Secondary buyers

You could also be looking at spillover demand from nearby Serangoon, Woodleigh and Kovan
These are buyers that got squeezed out of their first choice property in the higher priced Woodleigh and Serangoon area.

Key investing strategy to apply for this location

As mentioned earlier, the investment thesis supporting the purchase of a property in Serangoon North will differ greatly from the investment thesis of purchasing a property in areas like Lentor or Jurong East.

In Serangoon North, you can’t play the first mover game. The key investment strategy would be to purchase the most affordable unit that can tick all the boxes that a middle income family is looking for.

You should avoid buying into the highest psf unit with the most expensive quantum. On the contrary you should be looking to get your hands on a unit with the greater psf price disparity from the development setting price benchmark in the area.

You will then rely on the benchmark priced development to transact and set new benchmark prices for your unit to sell.

Establishing evaluation criteria

Mandatory criteria

  • Within 1km radius of Rosyth primary school
  • Mid to large sized development – more than 300 units
  • New development – avoid future buyer concern over decaying lease, below 10 yrs old
  • Optimal unit size – 3 Bedroom and above

Differentiating criteria

  • Affordability – affordable purchase quantum, easier for future buyer to take loan
  • Price disparity – better value in terms of psf pricing
  • Functional layout – enclosed kitchen, yard, utility room

For more insights on what makes a good investment property refer to this article inline.

Full List of Condos within 1km radius of Rosyth primary school

There are 17 condo development in the list, of which many are small developments with lesser than 300 units and many are older developments with lease starting as early as 1875.

Applying our level 1 mandatory criteria that we set out above, we will filter out developments that are either old or small.

Project NameWithin 1km radius of RosythTenureNo of units
Hundred Palms ResidencesYes99 Yrs FROM 2016531
REGENTVILLEYes99 Yrs FROM 1996580
TERRASSEYes99 Yrs FROM 2010414
TOHO GARDENYesFreehold56
THE WATERLINEYesFreehold103
TOHO GREENYes99 Yrs FROM 19786
PARKWOOD RESIDENCESYes99 yrs FROM 201818
NOUVELLE PARKYesFreehold108
AFFINITY AT SERANGOONYes99 yrs FROM 20181,012
KENSINGTON PARK CONDOMINIUMYes999 yrs FROM 1878310
KENSINGTON PARKYes999 Yrs FROM 1878310
FONTAINE PARRYYes999 Yrs FROM 1883125
CHUAN HOE MANSIONYes999 Yrs FROM 1886
THE GARDEN RESIDENCESYes99 yrs FROM 2017613
PARRY GARDENSYes999 Yrs FROM 188345
D’ZIREYes999 Yrs FROM 187547

Filtered List of Condos within 1km radius of Rosyth primary school

From a list of 17 developments, we filtered down to the following 3 condo developments.

These are the 3 condo developments that are most worthy of consideration if you are looking for a property with the greatest investment potential.

Project NameWithin 1km radius of RosythTenureNo of units
Affinity at SerangoonYes99 yrs FROM 20181,012
The Garden ResidencesYes99 yrs FROM 2017613
Hundred Palms ResidencesYes99 Yrs FROM 2016531

In the following sections, we will evaluate the 3 developments based on the 3 differentiating criteria that we set out earlier.

  • Psf price disparity
  • Affordability
  • Floor plan functionality

Reviewing price disparity for the 3 shortlisted condos around Rosyth primary school

Establishing upfront, Hundred Palms is an EC that is due to MOP only in Dec 2024. With that being said, there is only 1 transaction transacted in 2023. We included it because, depending on its selling price when it MOP, we see potential in the development.

First off, let’s compare pricing of Affinity at Serangoon vs The Garden Residence.

For comparison, we will be comparing the transacted psf pricing for the different bedroom type in each development

Price (PSF) – Affinity at Serangoon – Lease start 2018
Bedrooms2024Lease per year
(derived by dividing current psf by remaining lease life)
Rebased psf back to 99 year lease
11,72118.51,833
21,77219.11,886
31,81119.51,927
419.41,919
Price (PSF) – The Garden Residences – Lease start 2017
Bedrooms2024Lease per year
(derived by dividing current psf by remaining lease life)
Rebased psf back to 99 year lease
11,73418.81,866
21,84620.11,986
31,88720.52,031
5148916.21,602

From comparing strictly on PSF, Affinity at Serangoon would have an advantage against The Garden Residences. Using a 3 bedder as an example, a 3 bedder in The Garden Residences would cost 76 psf more than Affinity at Serangoon, despite The Garden Residences being 1 year older than Affinity at Serangoon.

Price disparity – 3 bedroom unit comparison3 Bedroom average psf based on 2024 Latest TransactionPrice Difference
The Garden Residences1,887NA
Affinity at Serangoon1,81176

Pricing of Hundred Palms Residences

The attractiveness of Hundred Palms Residence as an investment is highly dependent on its selling price when it fulfil its MOP in Dec 2024.

Based on our research in a separate article, there is an investment case for a 2nd mover advantage, purchasing a resale EC immediately after its MOP.

First owners of EC purchasing the EC at launch from developer at a subsidised price have shown willingness to price the EC at a discount to comparable private condo in the area.

Referencing the single transaction for Hundred Palms in 2023. The seller priced his unit a $225 psf lower than the Garden Residences and $151 psf lower than Affinity in Serangoon’s price in 2023.

It is not surprising that the seller is willing to price his unit at a discount, as he cashed in on over $700k in profit.

Hundred Palms 3 Bedroom Transaction

So in Dec 2024, if current owners of Hundred Palms Residences are willing to continue pricing their unit at 100 -150 psf discount to both Affinity at Serangoon and The Garden Residences, then there could be a strong investment case for purchasing a unit in the EC.

Reviewing affordability for the shortlisted condos around Rosyth primary

Do not confuse affordability with the psf pricing of a unit. A unit can be priced lower in psf as compared to a similar unit in another development, but due to its unit size and floor plan it could cost more in terms of overall quantum.

Affordability often plays an outsized influence when it comes to influencing the purchase decision of middle income families. Prospective buyers usually have a ballpark budget in mind due to their available cash, CPF and maximum eligible loan size.

Given that affordability is an output of psf pricing and square footage, layout efficiency plays a large part in influencing affordability. If developers are able to design an efficient layout that can fit in a yard, utility room, etc without wasting square footage on walkways or corridors. The overall square footage of a unit can be significantly reduced without compromising functionality.

To review affordability, we will specifically focus on the different 3 bedder unit types in each development.

DevelopmentBedroom TypeSize SqftCommentAverage PSF (based on latest 3 bedroom average transaction psf)Purchase Price / Quatum
Affinity at Serangoon3 Bedroom850No enclosed kitchen1,8111,539,350
3 Bedroom1152Open kitchen, but can enclosed with slight modification+ Utility Room1,8112,086,272
The Garden Residences3 Bedroom786Enclosed kitchen, w/o Yard1,8871,483,182
3 Bedroom1163Enclosed kitchen with Study, w/o Yard1,8872,194,581
Hundred Palms Residences3 Bedroom883Enclosed kitchen + YardTo be determine upon MOPTo be determine upon MOP
3 Bedroom969Enclosed kitchen + YardTo be determine upon MOPTo be determine upon MOP
3 Bedroom1055Enclosed kitchen + YardTo be determine upon MOPTo be determine upon MOP
3 Bedroom1066Enclosed kitchen + Yard + Utility RoomTo be determine upon MOPTo be determine upon MOP

Referencing the table above, this is where Affinity at Serangoon fell short, even though it is more competitive in terms of PSF pricing. Its 3 bedroom units are designed more for luxury than functionality.

If you compare like for like a 1152 sqft 3 bedder unit in affinity, it would cost you at least 2 mil, when you can get a similar 1044 sqft, 3 bedroom unit with enclosed kitchen at under 1.97mil

Projecting the price quantum for Hundred Palms Residences

Now let’s continue with our assumption that Hundred Palms Residences sellers would price their unit at a discount as compared to both Gardens and Affinity.

In combination with the development’s highly efficient layout, we could be looking at a very attractive price quantum.

For below 1.6 mil you would be looking at a very decent sized 883 sqft and below 1.8 mil for a 3 bedroom premium unit that comes with a yard, enclosed kitchen and utility room

DevelopmentBedroom TypeSize SqftCommentAverage PSF (based on latest 3 bedroom average transaction psf)Purchase Price / Quatum
Affinity at Serangoon3 Bedroom850No enclosed kitchen1,8111,539,350
3 Bedroom1152Open kitchen, but can enclosed with slight modification+ Utility Room1,8112,086,272
The Garden Residences3 Bedroom786Enclosed kitchen, w/o Yard1,8871,483,182
3 Bedroom1163Enclosed kitchen with Study, w/o Yard1,8872,194,581
Hundred Palms Residences3 Bedroom883Enclosed kitchen + Yard1,7871,577,921
3 Bedroom958Enclosed kitchen + Yard + Utility Room1,7871,711,946
3 Bedroom969Enclosed kitchen + Yard + Study1,7871,731,603
*psf pricing for Hundred Palms Residences, estimated at $100 lower than The Garden Residences

Reviewing floor plan and layout for the 3 shortlisted development

So far we have touched on both psf price disparity and affordability as evaluation criterias. Assuming the investment property that you have selected ticked both boxes in your future buyer’s heart.

The last factor, layout efficiency is often that factor that will make or break a property transaction during viewing. There are properties that look great on paper in terms of pricing and affordability, but just lack the functional layout that a family looking to fulfil their homestay needs is looking for.

Reviewing 3 bedroom unit floor plan – Affinity at Serangoon

3 Bedroom compact – 850 sqft

The standard 3 bedroom compact unit in Affinity at Serangoon has several kinks in its layout. From the get go, the open kitchen that is located immediately at the door way is a design that is still awaiting acceptance from your typical family buyers.

Buyer purchasing a unit for family homestay purposes, tends to prefer an enclosed kitchen for functional daily cooking and would add some points to the layout if there is a window in the enclosure to facilitate air flow.

For this 850 sqft unit, it does not come with a yard or utility room, so buyers must be comfortable hanging their laundry on the balcony or using a dryer.

Floor Plan Affinity at Serangoon 850sqft

3 Bedroom Premium – 1152 sqft

If you are going for a 3 or 4 Bedroom unit in Affinity at Serangoon, it is a much safer choice to go for this layout.

Even though it does not come with an enclosed kitchen by default, its open kitchen concept provides you with the option of enclosing it by building a sliding glass panel. From our findings, the preliminary construction quote of enclosing should not cost more than $25k.

The unit comes with a yard and utility room as well, so it will help overcome some of the common objections that come from your future homestay buyers.

Floor Plan Affinity at Serangoon 1152sqft

Reviewing 3 bedroom unit floor plan – The Garden Residence

3 Bedroom compact – 786 sqft

The 3 bedroom compact unit’s layout in The Garden Residences has a much more efficient layout than the ones in Affinity at Serangoon. By reducing walkway and corridor space, the developer is able to squeeze in an enclosed kitchen for this layout.

So if you are working with a restricted budget and you are looking to acquire an entry level 3 bedroom unit for both yourself and your future exit buyer, this could be a better option than the 3 bedroom compact unit in Affinity at Serangoon.

Floor Plan The Garden Residences 786sqft

3 Bedroom Premium – 1163 sqft

For the 3 Bedroom premium layout in The Garden Residences, the layout efficiency is on par with that of Affinity at Serangoon. One plus point is that you get an enclosed kitchen by default and it comes with a study room as well.

Floor Plan The Garden Residences 1163sqft

Reviewing 3 bedroom unit floor plan – Hundred Palms Residences

3 Bedroom compact – 883 sqft

This is where the units in Hundred Palms Residences stand out, it is primed for efficiency. The developers are able to squeeze in both a yard and an enclosed kitchen for a compact 883 sqft, 3 bedroom unit.

Prospective buyers reviewing the same 3 bedroom compact units across the 3 developments would have a lot less push back factors to work through when considering this layout in Hundred Palms Residences.

Floor Plan Hundred Palms Residence 883sqft

3 Bedroom + Study – 969 sqft

The 969 sqft, 3 Bedroom standard layout, is sufficient to be used as a comparison with the 1163 and 1152 sqft 3 Bedroom premium units in both The Garden Residences and Affinity at Serangoon. The 969 sqft unit comes with an enclosed kitchen, yard and a study room.

Floor Plan Hundred Palms Residence 969sqft

Condo near Rosyth primary – which is the best ?

So back to our key question, which is the best condo for investment surrounding Rosyth primary school ?

We hate to say this, but a large part of the answer to this question depends on Hundred Palm EC MOP selling prices. If the development psf selling price is lower or even on par with both The Garden Residences or Affinity at Serangoon, then there will be an investment case for buying into this development. Simply because of its affordability and layout efficiency that would sit very well with a future middle income family purchasing for their own stay.

If pricing is not favourable for Hundred Palms residences, then we would The Garden Residences the second option to consider if you are going for a standard 3 bedroom unit due to its layout efficiency.

For units over a Affinity at Serangoon, it is crucial to look for advantageous entry price, you will need to use that PSF price disparity as compared to either The Garden Residences or even Hundred Palms as a key selling point to counter potential objections that could come due to its layout efficiency.

Like the analysis thus far ?

Great you are still here with us, if you like the analysis thus far and would have something similar done for your current property selection.

Drop us a text, we will be happy to provide some advise or second opinion to affirm you of your current choices

More reads, more gains ?

Kudos on making it this far. The fact that you have invested the last 5 mins reading this article. We believe you are a like minded real estate investor looking to beat the rat race by getting more out of your real estate investment.

If so, do check out the following articles.

Author

  • Jue Wen

    Jue Wen is the content marketing lead. This means he spend his waking hours researching and writing all things real estate. He believes life is a hustle and there is no joy in grinding away daily in our little rat races. He believes making wise moves in real estate investment can be a game changer. Aside from writing all things real estate, you can find him in your nearest bouldering gym.

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Jue Wen

Author

Jue Wen is the property analyst and content marketing lead at decoupling expertise.
He specialises in helping clients overcome the complexities involved in owning their second private property in Singapore.
He had over 10 years of experience in real estate investing and have written over 40 detail guides on decoupling and minimising ABSD. He is a licensed real estate consultant and holds a Bachelor degree in Business Management from the Nanyang Technological University.

Kenji

Co-Author

Kenji is the Group Division Director of ERA Realty Network.
He have got over 20 years of experience in real estate and have successfully helped over 50 couples purchased their second property. He specialises in helping client achieve the best approach towards acquiring their ideal investment properties while minimising ABSD.