\nUnits at Lake Grande will offer panoramic views of the Jurong Lake. (Artist\u2019s impression)<\/p>\n
Lake Grande, MCL Land\u2019s 710-unit condominium along Jurong West Street, saw 87 percent, or 436 of the 500 units released, sold at an average price of $1,368 psf during its launch over the weekend, reported The Straits Times.
Units at Lake Grande will offer panoramic views of the Jurong Lake. (Artist\u2019s impression) Lake...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-20860","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5qs","jetpack-related-posts":[{"id":30385,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-best-selling-projects-in-september-2016\/","url_meta":{"origin":20860,"position":0},"title":"5 best-selling projects in September 2016","date":"October 18, 2016","format":false,"excerpt":"\r The most popular private condo last month was Lake Grande in Jurong West. (Photo: Christopher Chitty) Sales of new private homes, including executive condominiums (ECs), reached 769 units in September, according to data from the Urban Redevelopment Authority (URA). The five chart-topping projects are: 1) Treasure Crest EC (OCR)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22951,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-best-selling-projects-in-july-2016\/","url_meta":{"origin":20860,"position":1},"title":"5 best-selling projects in July 2016","date":"August 15, 2016","format":false,"excerpt":"\r Artist\u2019s impression of the Treasure Crest EC in Sengkang. Source: Sim Lian Group Singapore property developers sold 1,921 housing units in July, including executive condominiums (ECs), compared to just 768 units in the previous month, data from the Urban Redevelopment Authority (URA) showed. Analysts attributed the surge in transactions\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88821,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/70-units-at-le-quest-sold-on-first-day-of-phase-2-sales\/","url_meta":{"origin":20860,"position":2},"title":"70 units at Le Quest sold on first day of Phase 2 sales","date":"May 21, 2018","format":false,"excerpt":"\r Buyers queuing to select their units at the Phase 2 launch of Le Quest on Saturday. (Photo: Qingjian Realty) Le Quest, a mixed-use development by Qingjian Realty in Bukit Batok, saw 70 units sold during the first day of Phase 2 sales on Saturday (19 May). The developer released\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37158,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-from-singaporean-home-buyers-continues-to-grow\/","url_meta":{"origin":20860,"position":3},"title":"Demand from Singaporean home buyers continues to grow","date":"December 6, 2016","format":false,"excerpt":"\r Lake Grande in Jurong was the most popular project among Singaporeans in Q3, with 441 units sold to local buyers. (Photo: Christopher Chitty) The residential market is seeing growing demand from local buyers, who accounted for around 76 percent of home sales in Q3 2016, revealed a report from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26209,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-best-selling-projects-in-august-2016\/","url_meta":{"origin":20860,"position":4},"title":"5 best-selling projects in August 2016","date":"September 15, 2016","format":false,"excerpt":"\r Artist\u2019s impression of the pool at Sol Acres EC. Source: MCL Land Property developers sold 805 housing units in August, including executive condominiums (ECs). The five top-selling projects, all located in the Outside Central Region (OCR) are: 1) Treasure Crest EC (OCR) Developer: Sim Lian Group Tenure: 99-year leasehold\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37211,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-from-singaporean-home-buyers-continues-to-grow-2\/","url_meta":{"origin":20860,"position":5},"title":"Demand from Singaporean home buyers continues to grow","date":"December 6, 2016","format":false,"excerpt":"\r A stronger resale market overall Lake Grande in Jurong was the most popular project among Singaporeans in Q3, with 441 units sold to local buyers. Image credit: Christopher Chitty The residential market is seeing growing demand from local buyers, who accounted for around 76 percent of home sales in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/20860"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=20860"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/20860\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=20860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=20860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=20860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nMCL Land Chief Executive Koh Teck Chuan revealed that buyers favoured smaller units, with 83 percent of the sales involving one- and two-bedroom units. Singaporeans accounted for 17 out of every 20 buyers.
\nWith units in one- to five-bedroom configurations, the 17-storey project overlooks Jurong Lake and is a few minutes\u2019 walk from the Lakeside MRT station.
\nAlthough the private residential market is showing signs of bottoming out, with prices in Q2 registering the slowest pace of decline since values began falling at end-2013, market watchers cautioned that the robust demand for Lake Grande units cannot be considered as a sign of improving sentiments among buyers.
\nInstead, they believe that the red-hot perception for the project may have been stoked by the government\u2019s plan to develop the Jurong Lake District as the home of the future high-speed rail (HSR) terminus linking Singapore to Kuala Lumpur and a second central business district.
\nLast week, Singapore and Malaysia marked a big step in the HSR development when they signed a memorandum of understanding which paved the way for more detailed planning as well as eventual construction of the rail link.
\n\u201cThe main contributing factor for Lake Grande\u2019s strong sales is all the hype over the Jurong Lake District masterplan and the high-speed rail coming onstream in 2026,\u201d said Savills Singapore Research Head Alan Cheong.
\n\u201cWhile Lake Grande and Treasure Crest executive condo (which was launched the previous week) did well, I don\u2019t believe we can make a blanket conclusion about sales rebounding in leaps and bounds. One swallow does not make a summer and demand is still project-specific,\u201d he added.
\nChristine Li, Research Director at Cushman & Wakefield, noted that the project also benefitted from the limited supply of unsold small homes in Jurong.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Lake Grande sold 436 units over the weekend<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"