A number of new projects are now in the pipeline that will
provide residents in the Jurong and Lakeside areas with
more housing options.
For more than a year, there was no new condo launched in the
vicinity despite a lot of buzz taking place in suburbs across the island. This
will change as the whole Jurong Lake District is set to become the biggest
commercial hub outside the city centre.
Last month, a residential site in Boon
Lay Way closed its tender. The 99-year leasehold
land parcel sited near Jurong East MRT station is expected to yield around 600
units.
Meanwhile, a site that could yield some 820 units will be
launched later this year near Lakeside MRT station.
By 2017, property consultants expect to see more than 2,000
new private homes within the precinct. The upcoming Caspian and Lakefront
Residences (pictured), which were launched in 2009 and 2010 respectively, will
form part of the bulk.
All 712 units at Frasers Centrepoint’s Caspian have been
snapped up. It is expected to be completed by the third quarter of this
year.
Likewise, the 629-unit Lakefront Residences by Keppel
Land
Alan Cheong, Research Head at Savills Singapore ,
said that while Jurong is an established town, newer estates such as Sengkang,
Pasir Ris and Punggol have overshadowed it in terms of new executive and
private condo launches.
Nevertheless, higher prices have been seen in Jurong. In
fact, upcoming condos within the area could be priced at between S$1,000 psf
and S$1,200 psf compared to projects in the north-east and Pasir Ris, which
have recorded prices of between S$850 psf and S$1,000 psf.
“The Jurong Lake District is being engineered into a
regional hub... Human density is expected to rise, with increasing population
of foreigners probably wanting to rent there as more commercial developments
take root,” said Cheong.
Info courtesy -
PropertyGuru.com.sg
