CDL’s Lucerne Grand launch moves 61% of 570 units at average S$2,480 psf
Prices at the 99-year Jurong Lakeside project start from S$1.5 million for a two-bedroom unit
The 99-year Jurong Lakeside condominium project, Lucerne Grand, achieved an impressive 61% sales rate at its weekend launch. Out of the 570 units, 350 were sold by 6 PM on Sunday, with the average price per square foot being S$2,480. Approximately 93% of the buyers were Singaporeans, while the remaining 7% were permanent residents from countries like Malaysia, China, and India.
The project's pricing ranges from S$1.5 million for a two-bedroom unit to S$2.8 million for a four-bedroom unit. PropNex CEO Kelvin Fong highlighted that these prices were "relatively affordable." CDL secured the land for S$608 million, or S$1,132.08 per square foot per plot ratio, in June. CDL's take-up rate puts Lucerne Grand in line with other mixed-use projects launched this year, which had sales ranging from 56.9% to 98.8%.
Analysts attributed the healthy sales to the project's proximity to the MRT station and the provision of retail space within the development, which boosts convenience for residents. The location's nearness to the Jurong Lake District, envisioned as Singapore's largest business district outside the city center, also provided a positive long-term outlook.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
