Jurong Lakeside Condos will be an integrated tourism precinct. The development is located near an MRT station and will be affordable. This makes it an attractive investment for investors. But why are investors so concerned about the prices? Here are some reasons. Listed below are some of the factors that investors should consider when purchasing a Jurong Lakeside condo.
Jurong Lakeside Condos will be an integrated tourism precinct
The Jurong Lake District is undergoing a major transformation. It is set to become the second CBD in Singapore, catering to the diverse needs of local residents. The precinct is also expected to become an integrated transport hub, starting in 2027. Its potential development area is 360 hectares, approximately the size of Marina Bay.
The precinct will feature a mix of retail, leisure, and hospitality offerings. In addition to its waterfront location, it will include attractions, hotels, and a thriving “edutainment” district, with a focus on technology, sustainability, and a ‘green’ approach. The area will also feature a pedestrian-friendly street and an extensive network of public spaces.
This new integrated tourism precinct is an important part of Singapore’s medium-term plans to increase tourism spending. The area, which is currently home to Jurong Lake Gardens, is set to be a major destination for both business and leisure travelers. The Jurong Lake District is already a highly attractive site for regional headquarters and innovation centres, thanks to its transportation links. Moreover, the Jurong Lake District will feature lifestyle and entertainment offerings that will cater to the growing needs of residents and visitors.
It is located in a residential enclave
The Jurong Lakeside condominium development is located in a residential enclavement where private homes are relatively affordable, while condos are ideally located for tenants drawn to the nearby Western Technological Corridor (WTC). The WTC comprises of business parks, science parks, one-north area, and two local universities. As such, the development surrounding Lakeside has consistently attracted high leasing interest. Some of the nearby developments include Caspian condo development, Parc Vista, and The Lakeshore.
Investors who plan to invest in Jurong Lakeside condos should be aware of the location’s growth potential. The Jurong Lakeside District is a burgeoning business district with an array of retail, dining, and entertainment outlets. The Lakeside area is also slated for a new project, which could be built up to 24 storeys. Upon completion, this development will feature unobstructed views of Jurong Lake. This is likely to attract new homebuyers from all over Singapore.
It is near an MRT station
Lakeside MRT station is an above-ground station in Jurong West. It is located on the northwestern bank of Jurong Lake and is connected to the East-West line. This location allows residents to get to and from the city center with ease. There are several amenities within walking distance of the lakeside condos, such as a supermarket, cafes and a gym.
Lakeside Apartments and Jurong Lakeside Condo prices are both near an MRT station. These two condos offer great views of Jurong Lake and are near a MRT station. They are also near several schools.
It is affordable
If you’re thinking of buying a condo in Jurong, you’re in luck. Despite the price jump from $628 psf in 2008 to $1,279 psf in 2016, condo prices in Jurong are still relatively affordable. The most affordable units in Jurong are available in The Lakeshore, a condominium located across the Jurong Lake. These units start from 1,000 to 1,200 square feet.
These condos are located in Jurong’s Jurong Lake District and Jurong Innovation District. They offer lake views, are close to the MRT, and come with a 99-year lease. Prices here are comparable to those of some CCR projects and resale condos in Jurong.
It is in the process of decentralisation
If you’re looking to buy a condo in Singapore’s Jurong Lakeside District, you’re in for a treat. The district is set to be the next big CBD outside the central region, part of the government’s decentralisation strategy. This will help ease congestion and boost work efficiency. One example is Google, which recently moved out of the Marina Financial District into the Mapletree Business City II in the RCR. Other developments nearby include Bishan Sub-Regional Centre and Paya Lebar Central. The government also encourages the redevelopment of older office buildings into mixed-use developments.
Market watchers welcomed the renewed focus on the area, as the area has long struggled with its industrial image. Madam Halimah Yacob, MP for Jurong GRC, said that the town’s Chinese and Japanese gardens were underutilised and in need of refurbishment.