\nArtist\u2019s impression of the future Jurong Lake District.
\nWhile Jurong may be considered ulu among some home buyers, Singapore\u2019s industrial heartland is set to become a more vibrant and attractive neighbourhood to live in, according to PropertyGuru AreaInsider.
\nThere are various factors contributing to the bright outlook, but three stand out as game changers.
\nFirst is the government\u2019s ambitious master plan for the Jurong Lake District (JLD). There\u2019s the construction of the upcoming Jurong Region Line (JRL) and the highly anticipated High Speed Rail (HSR) project linking Singapore with Kuala Lumpur.
\nDid you know that Jurong was once infested with crocodiles? Learn more about how\u00a0Jurong has developed over the years.
\nThe second CBD
\nThe government plans to transform the 360-ha JLD into the biggest commercial and regional centre outside Singapore\u2019s central business district (CBD).
\nA bold vision that will see the construction of more than 20,000 residential properties and the creation of over 100,000 new jobs.
\nIn addition to more commercial developments and green spaces, the area\u2019s status as an industrial hub will be further strengthened as Jurong\u2019s Tuas Port will handle all of the country\u2019s container port operations by 2040.
\nNew 24-km MRT line
\nThe authorities are also planning to build a new railway network in Jurong, which will be Singapore\u2019s 7th MRT line.
\nThe 24-km JRL will have 24 new MRT stations and will start operating in stages.
\nPhase 1 will open by 2026 with 10 MRT stations along JRL (West) connecting Choa Chu Kang to Boon Lay and Tuas.
\nPhase 2 will begin operations by 2027, with seven MRT stations on JRL (East) linking Tengah with Pandan Reservoir.
\nPhase 3 will open by 2028, extending JRL into Jurong Pier in the south and NTU in the west.
\nUpon the JRL\u2019s completion, commuters from Singapore\u2019s northern region, particularly Woodlands, will enjoy shorter travelling times to Jurong.
\nSearch for properties for sale near Jurong East MRT station.
\nSpeedy cross-border travel
\nAnother game changer is the strong possibility that construction of the highly-anticipated KL-Singapore High Speed Rail will resume after being pushed back to 2020.
\nHowever, the rail line is expected to commence operations by 2031 instead of 2026 as originally planned.
\nWhen the 350-km cross-border railway is completed, Jurong East will benefit greatly as it has been earmarked as the terminus in Singapore. It is also expected to reduce the travel time between Singapore and KL from four hours by car to just 90 minutes.
\nMore: 3 Reasons Why Scrapping The HSR Project May Be Bad For Jurong<\/p>\n
Property boost
Artist\u2019s impression of the future Jurong Lake District. While Jurong may be considered ulu among...<\/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-98892","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-pJ2","jetpack-related-posts":[{"id":21670,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jurong-lake-district-to-have-bicycle-sharing-scheme-by-end-2017\/","url_meta":{"origin":98892,"position":0},"title":"Jurong Lake District to have bicycle-sharing scheme by end-2017","date":"July 29, 2016","format":false,"excerpt":"\r Artist\u2019s impression of the proposed bicycle-sharing infrastructure in Marina Bay \/ City Centre. Source: Land Transport Authority The Land Transport Authority (LTA) will pilot a self-service bicycle-sharing scheme in the Jurong Lake District (JLD) by end-2017. To encompass over 1,000 bicycles and 100 docking stations, the scheme will provide\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97424,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jurong-property-prices-not-affected-by-high-speed-rail-delay\/","url_meta":{"origin":98892,"position":1},"title":"Jurong property prices not affected by High Speed Rail delay","date":"September 7, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the HSR terminus in Jurong East. Market experts do not expect the deferment of the Kuala Lumpur-Singapore High Speed Rail (HSR) project to significantly affect property prices within the Jurong area, reported the New Paper. This comes as the HSR only forms part of the blueprint\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20910,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-launches-request-for-proposal-for-new-cbd-in-jurong\/","url_meta":{"origin":98892,"position":2},"title":"URA launches request for proposal for new CBD in Jurong","date":"July 12, 2016","format":false,"excerpt":"\r Artist\u2019s impression of new developments around Jurong Lake. Source: URA The Urban Redevelopment Authority (URA) on Monday (11 July) launched a Request for Proposal (RFP), inviting multi-disciplinary teams to develop master plan proposals for the Jurong Lake District. The RFP signals the first step in the district\u2019s transformation into\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/pq7SOYpCUeo\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":93531,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/plans-for-jurong-lake-district-not-changed-regardless-of-hsr-result\/","url_meta":{"origin":98892,"position":3},"title":"Plans for Jurong Lake District not changed regardless of HSR result","date":"July 10, 2018","format":false,"excerpt":"\r The overall impetus and vision for Jurong Lake District has not changed, regardless of the outcome of the high-speed rail (HSR) project between Singapore and Malaysia, said National Development Minister Lawrence Wong in Parliament on Monday. His statement comes after Malaysian Prime Minister Mahathir Mohamad has announced plans to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27568,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-teams-shortlisted-to-develop-jurong-lake-district-master-plan\/","url_meta":{"origin":98892,"position":4},"title":"5 teams shortlisted to develop Jurong Lake District master plan","date":"September 28, 2016","format":false,"excerpt":"\r \u00a0 Artist\u2019s impression of new developments around Jurong Lake. (Source: URA) Five teams have been shortlisted by the Urban Redevelopment Authority (URA) to develop a master plan for the Jurong Lake District. Notably, the Jurong Lake District Request for Proposal (RFP) exercise received robust interest from local and international\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8194,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nparks-seeks-design-ideas-for-jurong-lake-gardens\/","url_meta":{"origin":98892,"position":5},"title":"NParks seeks design ideas for Jurong Lake Gardens","date":"March 8, 2016","format":false,"excerpt":"\r NParks officials briefing Minister Lawrence Wong on the concept of the Jurong Lake Gardens development. (Photo: MND) Singapore\u2019s National Parks Board (NParks) is inviting consultancies to take part in the concept design plan for Jurong Lake Gardens (JLG) Central and East. A key requirement is that the ideas must\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\/98892"}],"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=98892"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/98892\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=98892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=98892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=98892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nThese are major catalysts that will definitely boost Jurong\u2019s property market.
\nThis means there is a strong likelihood that property prices in the area will rise once the infrastructure has been completed as these mega projects will lead to better connectivity and greater economic activity.
\nAccording to URA data, median prices of private homes in District 22, where Jurong is located, fell in Q2 2018 to $1,091 psf.
\nWhile this is lower than the $1,166 psf recorded during the same period last year, this is a slight improvement from Q1 2018 when prices hovered below $1,050 psf.
\nAlthough private home prices in the area were lower in the first two quarters, this is likely to be temporary given the upcoming developments in the area.
\nWith Jurong\u2019s property market still recovering from the latest cooling measures and postponement of the HSR, it\u2019s possible that values could remain depressed for the rest of the year.
\nAnd this period offers a golden opportunity to invest in Jurong property before values rebound next year.
\nInterested in buying property in Jurong? Check out our\u00a0step-by-step guide to buying a condo.
\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…Over 100,000 jobs, 20,000 homes to be created in Jurong<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"