The LakeGarden Residences is Jurong Lake District’s first new residential project in seven years.
Due to the extended hiatus, the market anticipates exceptional demand among potential homebuyers, owing to pent-up interest in the area.
The most recent project to be introduced in the Jurong Lake District was Lake Grande, which featured 710 condominium units.
Prior to that, in 2014, there was LakeVille, another condominium offering 696 units.
Between 2013 and 2016, the Jurong precinct was one of Singapore’s most sought-after residential areas.
It was largely due to the government’s ambitious plans to redevelop Jurong as the nation’s 2nd business district and the excitement surrounding the Kuala Lumpur-Singapore high-speed rail (HSR) project.
As a result, new launch condos in Jurong received a flurry of interest.
Fast forward almost a decade, and the HSR project has been shelved.
And I must admit that there is little resemblance between Jurong and established business districts such as Shenton Way or Marina Bay.
Now that The LakeGarden Residences has established a new benchmark price point for new condos in Jurong, the big question is how the new generation of home buyers and investors will react in 2023.
Is this new Jurong launch condo a good buy in 2023?
In this post, I’ll go into detail to provide a thorough analysis and my honest opinion on whether The LakeGarden Residences in Jurong are a good investment in 2023.
Before delving into the intricacies of this new condo’s launch, here is some background information on The LakeGarden Residences.
|Project Name||The LakeGarden Residences|
|Address||80 and 82 Yuan Ching Road|
|Site area||129,183 sq ft|
|Total number of units||306|
|Total number of parking lots||306 (including 4 lots for electric vehicles)|
|Number of blocks||2|
|Number of storey||19|
|Expected TOP date||August 2027|
Wing Tai Holdings Ltd is the developer of The LakeGarden Residences.
The company, which was founded in 1955, is primarily involved in property development and garment retail, with its headquarters in Singapore.
Operating through a diverse array of business entities, including Wing Tai Development Properties and Wing Tai Retail, Wing Tai Holdings has garnered a reputation for delivering numerous iconic real estate projects.
Noteworthy ventures in recent years like The Crest at Prince Charles Crescent, Le Nouvel Ardmore, and The M exemplify its exceptional portfolio.
Furthermore, Wing Tai Holdings was pivotal in introducing the renowned apparel brand UNIQLO to the discerning Singaporean market, underscoring its significant influence in the retail sector.
In the realm of retail, Wing Tai Retail commands an impressive representation of 18 essential brands, overseeing an extensive network of retail outlets in both Singapore and Malaysia.
Its diverse and thriving business activities have firmly established its position as a reputable force in the realms of real estate and retail.
The LakeGarden Residences Location
The LakeGarden Residences is located along Yuan Ching Road, where the former Lakeside Apartments once stood.
It is situated in Singapore’s District 22, which is part of the Outside Central Region (OCR).
When you take a look around the area, you’ll notice that The LakeGarden Residences is situated in a mature and established residential neighborhood, mostly comprised of older public and private residential buildings.
As a result, residents of this new launch condo at Jurong will enjoy the kind of convenience and lifestyle experience that many people seek.
The best part is that most residents will have a spectacular view of Jurong Lake from their own homes.
Nature living at its best
Over the last couple of years, the Jurong Lake waterfront boardwalk has been improved and upgraded with new water activities such as dragon boating and kayaking.
However, that’s not all.
The Jurong Lake Gardens is Singapore’s new heartland national garden.
It is practically a garden that is built for the people, with landscaped areas and gathering places for families and also the community.
In addition, other public amenities such as boardwalks, fishing piers, and water features are also available.
As part of the 90-hectare Jurong Lake Gardens, the current Chinese and Japanese Gardens have also improved the convenience of their facilities and activities in order to attract the exclusive residents nearby, including The LakeGarden Residences.
Close proximity to various malls and amenities
The LakeGarden Residences condo’s proximity to exciting shopping destinations adds to the convenience and allure of the location.
Notable shopping centres such as Westgate, JEM, and also IMM are nearby, offering residents a diverse range of retail experiences.
Aside from shopping, the adjacent lakeside area offers even more opportunities for entertainment and leisure.
It is a vibrant hub with a variety of entertainment amenities to cater to a wide range of interests.
Residents of The LakeGarden Residences can enjoy a well-rounded lifestyle, complemented by the serene ambience of the lakeside environment, with such an exciting array of shopping and entertainment options nearby.
Nearby reputable schools
This is most likely one of the most important criteria for parents with school-age children.
You’ll be relieved to know that there are numerous good primary schools in the area.
However, only Lakeside Primary School is within a 1-kilometre radius.
There are also other schools within a 1- to 2-kilometre radius, namely Rulang Primary School, Fuhan Primary School, Yuhua Primary School, Jurong Primary School and Shuqun Primary School.
There are also options for international students.
The LakeGarden Residences condo is also close to the Canadian International and the Yuvabharathi International School.
The LakeGarden Residences Floor Plans and Unit Types
This new launch next to Jurong Lake Garden comprises a total of 306 units.
There will be only 2 residential blocks – each 19-storey tall.
Among the various unit types available are:
- 1-Bedroom (484 to 538 ft²)
- 1-Bedroom + Study (527 to 635 ft²)
- 2-Bedroom (592 to 893 ft²)
- 2-Bedroom + Study (775 to 936 ft²)
- 3-Bedroom (926 to 1216 ft²)
- 3-Bedroom + Study (1098 to 2002 ft²)
- 4-Bedroom (1270 to 2153 ft²)
- 5-Bedroom (1550 ft²)
- 5-Bedroom + Study Penthouse (2,280 ft²)
Here is The LakeGarden Residences floor plan for each unit type.
The LakeGarden Residences Showflat Location
The showflat is located along Boon Lay Way which is right across the Chinese Garden MRT station (EW25).
The showflat is currently open from 10 a.m. to 8 p.m. daily.
If you want to see the showflat, please contact me via the form below or send me a Whatsapp message.
The LakeGarden Residences Review
When news of The LakeGarden Residences condominium’s launch surfaced, I must admit I had mixed emotions.
As mentioned earlier, It had been 7 years since a new condo project was introduced in the Jurong precinct, hence creating a wave of anticipation and excitement.
Between 2013 and 2016, projects like J Gateway, Lakeville, and Lake Grande were unveiled during that period and garnered immense success despite their relatively higher price point compared to other mass-market or Outside Central Region (OCR) developments launched at the same time.
The buzz around these projects was largely fueled by the government’s plans to transform Jurong into a bustling business district and revitalize the Jurong Lake area, including the now-stalled HSR project.
Given these past successes, one might wonder what sets The LakeGarden Residences apart and makes it worth considering.
During the preview, I had the opportunity to showcase this development to one of my clients, and I must say I was a bit underwhelmed.
Quality severely under-par
The showflat units left much to be desired, with lacklustre finishes, an inefficient flow, and awkward room placements that fell short of expectations.
One perplexing detail was the use of white for the balcony and aircon ledge rails—a choice I found hard to fathom.
Don’t get me wrong; The LakeGarden Residences’ layout and finishes aren’t terrible, especially when compared to many other projects.
But knowing the high standards of past residential developments by Wing Tai, I couldn’t help but feel disappointed with the standards showcased in this particular condo project.
The fairly attractive price point
However, there’s one aspect that stands out as a real consolation—the price point. When compared to ongoing projects in the OCR, The LakeGarden Residences offers a genuinely attractive price point.\
Allow me to break down the median per square foot (psf) prices to give you a clearer perspective.
|Project||Location||Tenure||Total no. of units||Average PSF (last 6 months)|
|Lentor Hills Residences||Lentor||99-year||598||$2,099|
|The Myst||Bukit Panjang||99-year||408||$2,069|
|Sceneca Residence||Tanah Merah||99-year||268||$2,060|
|The Botany at Dairy Farm||Dairy Farm||99-year||386||$2,076|
|The LakeGarden Residences||Lakeside||99-year||306||~$2000-2100|
At first glance, the prices may seem similar to other projects, but it’s important to consider that The LakeGarden Residences benefits from being part of a well-established housing estate—a factor that can drive housing demand and potentially lead to long-term price appreciation.
Moreover, this development is the very first brand-new condominium to be situated right next to the rejuvenated Jurong Lake.
If you understand the dynamics of supply and demand, you’ll see why this location adds to its allure.
Nevertheless, it’s essential to be aware of the relatively high maintenance fees, primarily attributed to the abundance of communal facilities catering to just 306 units.
Despite some reservations about the layout and finishes, I do still see potential and value in The LakeGarden Residences for a specific group of buyers.
It is an “intriguing opportunity” for individuals who are interested in buying or investing in a vibrant and thriving housing estate.
The Jurong area has been undergoing significant redevelopment and rejuvenation, making it an attractive prospect for potential buyers looking for an area with growth potential.
And who can tell, there’s a possibility that the government might revive the HSR project sometime soon.
While The LakeGarden Residences may not be as groundbreaking as its predecessors (J Gateway, Lakeville, and Lake Grande), it does possess its own unique appeal.
This could be attributed to factors like its location next to the rejuvenated Jurong Lake, which might offer residents a pleasant environment and potential scenic views.
However, if the location doesn’t particularly appeal to you, there are plenty of other projects available for your consideration.