[SG] ALERT! Property Prices Would Increase Because of This!
On 03 Mar 2021, Singapore's Minister for Education, Lawrence Wong said that the phase 2C of the Primary 1 registration framework is undergoing a review. For those new to or unfamiliar with the registration framework, Phase 2C is for students who do not have priority admission and in this phase, slots are allocated based on home-school distance. Generally, each school sets aside 20 places for this phase.
Channel News Asia reported that the Ministry is looking at increasing the 20 places currently set aside for Phase 2C. In the recent years, competition for popular schools have intensified, resulting in students not being able study in a school close to their home. Quoting Minister Lawrence Wong, "Such popular schools are not limited to a particular locality ... As a result, even with the 20 places set aside for Phase 2C, some children do not get to attend a school near their home.”
What does this have to with your property price?
As shared in our other post, prices are very much influenced by demand and supply. If the number of places is to increase, it means living in properties which are in close proximity to a school would get a larger cut of the "Primary 1 places pie". Owners of properties within 1km of the top 20 popular primary school in Singapore should expect demand of their properties to increase, hence driving their prices up! If you own one such property, time to get yourself ready for the "harvest"!