The LakeGarden Residences is set to be the next waterfront address at the lake district, offering a premier residential experience that boasts unblocked views of the Jurong Lake Gardens and city. With the Jurong Lake District earmarked to be developed into the second Central Business District (CBD) of Singapore under the URA Master Plan, The LakeGarden Residences presents a good opportunity for homebuyers and investors interested in capitalising on the area’s future development and potential.
In this article, we will highlight the best features of the development and its future potential, as well as our best picks for each unit type available. If you are considering a unit in The LakeGarden Residences from their available 1-Bedroom to 5-Bedroom units, read on to find out more.
*At the time of writing, the expected launch date for The LakeGarden Residences is 5 August 2023
Location Analysis
The LakeGarden Residences will be located right next to the Jurong Lake Gardens, along Yuan Ching Road. It was originally the en-bloc site of Lakeside Apartments, with Wing Tai Holdings emerging as the top bidder for the plot.
Public transportation options are not ideal, given that the nearest MRT station, Lakeside, is a 15-minute walk away. This means that the development is more suitable for those who drive. However, for those who rely on public transportation to get around, there are buses that connect to Lakeside MRT station in under 10 minutes.
One of the exciting developments in the Jurong Lake District is the expansion of the MRT network. The Jurong Region Line (JRL) is expected to be completed in phases between 2027 and 2029. This means that by the time The LakeGarden Residences achieves TOP, the first phase of the JRL which connects Boon Lay MRT station to Tengah and Choa Chu Kang will be ready.
The Cross Island Line (CRL) is expected to be completed in phases between 2030 and 2032 as well. The last phase of the CRL will connect Jurong East MRT station to the central Ang Mo Kio region and to the northeastern (Hougang and Punggol) and eastern (Pasir Ris) parts of Singapore.
Future residents will have no lack of amenities in its immediate vicinity. For dining and shopping options, The LakeGarden Residences is surrounded by malls within a 10-minute drive. This includes Jurong Point, IMM, Jem, and Westgate. Entertainment options in the area includes Superbowl Jurong, Passion Wave, and the upcoming new Science Centre at Chinese Garden. On top of its condo facilities, residents will have convenient access to a wide range of activities at Jurong Lake Gardens which is just a 1-minute walk from the estate. On top of the condo’s gym facilities, Jurong Lake Gardens houses the largest ActiveSG Gym in Singapore for fitness gurus to get their workouts in.
Parents with school-going children will have no lack of options in the area. Primary schools include Lakeside Primary, Fuhua Primary, and Rulang Primary. For older children, Jurong Secondary, Yuan Ching Secondary, and ACS (Independent) are some of the secondary schools to choose from. The LakeGarden Residences is also in the vicinity of top tertiary educational institutions like Anglo-Chinese Junior College (ACJC), and a 20-minute drive to Nanyang Technological University (NTU).
Coming back to Jurong Lake District’s transformation, it is set to be the biggest mixed-use business district outside the city centre. As part of the government’s plan to promote sustainability and healthy living, Jurong Lake District will adopt district-wide sustainable and innovative building designs, a 90% walk-ride-cycle scheme, and plenty of recreational spaces. Jurong Gateway, the commercial nucleus of the district, is slated to bloom into a bustling regional business epicentre. Already graced by bustling shopping malls, a world-class hospital, and a thriving employment hub, the gateway prepares to throw open its doors to an array of new commercial enterprises. This transformation is expected to generate a staggering 100,000 job opportunities across diverse sectors like healthcare, research, and business services. A new Science Centre and tourism development will also soon emerge at the nearby Chinese Garden, attracting not just locals but tourists from all walks of life. With all these activities and developments, it will attract companies and businesses to move their offices and operations here, which will bring in more professionals and talents, increasing the rental potential of the area to unprecedented levels.
The Kuala Lumpur-Singapore High Speed Rail (HSR) has been an on-and-off project – it was originally proposed by Malaysia to cut travel times between KL and Singapore to 90 minutes, but was terminated in 2021, resulting in Malaysia paying a compensation of over S$102 million to Singapore. Just this year, it was reported that Malaysia is seeking proposals to revive the project, with Singapore open to proposals. Should the project take off and be completed in the future, the terminal will amplify the district’s regional connectivity as well as rental demand from Malaysians working in Singapore.
Site Plan Analysis
The LakeGarden Residences’ site is rectangular in nature, and is made up of two 19-storey blocks with an east-west configuration. However, the stacks are fanned out in multiple directions, a strategy that the developers have adopted to ensure that units do not get direct west sun exposure. This also means that each stack will have a different facing and a different view of the surrounding greenery.
The two blocks are placed on the corners of the site, with the facilities taking the middle of the development in a T-shaped configuration. This ensures that the facilities are easily accessible by residents from each block. We notice that block 80 is situated right behind the arrival area and entrance of the condo, making block 82 the more private and quiet choice.
Among the facilities offered, there is a 50m lap pool called the Stardust Pool, a Jacuzzi Lounge, a Yoga Lawn, an Edible Garden, and a Glamping Pavilion. With a focus on wellness and nature, these facilities allow residents to escape the hustle and bustle of city life after a long day out.
Price & Rental Trend of District 22
Looking at the price trend of 99-year leasehold condos and apartments in District 22 (Lakeside, Jurong, Boon Lay, Tuas), we can see that most of the new launches in the last 10 years were between 2013 and 2018. While the Master Plan shows a supply of mixed-use developments to be introduced into the Jurong Lake District in the near future, the supply of new residential units in D22 has been low over the past five years.
The price movement has also been rather volatile, especially between 2013 and 2020. However, as the market recovered from the pandemic, D22 prices have been on the uptrend and recorded a growth rate of 33% between 2020 and Q2 2023. This uptrend is likely to continue given the current high interest rate environment as well as inflation, and also given that the average new launch in the OCR has an average PSF of around $1,800 to $2,000. With the upcoming transformation of the Jurong Lake District, we expect prices in District 22 to climb as we approach the completion of major milestones such as the Jurong Region Line.
With the Jurong Lake District quickly transforming into a business hub, it is not surprising that rental demand will increase in tandem as more professionals and expats move into the area. The rental trend paints an accurate picture of the hot rental market fueled by the pandemic over the past few years. Since 2018, rental prices in District 22 have grown by a drastic 66%, with the steepest climb between 2021 and Q2 2023.
As more companies and businesses move their offices and operations into the second CBD of Singapore, rental demand will continue to surge in this part of the region. If the KL-Singapore HSR project successfully kicks off and is completed in the future, rental demand and prices here will reach unprecedented levels, signalling a good opportunity for investors and landlord buyers to hunt for a good entry into this area.
Unit Distribution
The LakeGarden Residences offers 1-Bedroom to 5-Bedroom types spread across 18 stacks, with 2 stacks that only have ground floor units. Every unit type will offer variations that include an additional study and dual-key variations are available for the 4-Bedroom type. The 2-Bedroom type will come with compact variations with only 1 bathroom, possibly the developer’s strategy to allow buyers and investors to participate by making a quantum play.
The units are split into 3 collections – the Garden Collection (1-Bedroom, 1-Bedroom + Study, 2-Bedroom, 2-Bedroom + Study, 2-Bedroom Compact, 3-Bedroom, 3-Bedroom + Study), the Lakefront Collection (3-Bedroom + Study (Premium), 4-Bedroom, 4-Bedroom Dual-Key, 5-Bedroom), and The Penthouses (3-Bedroom + Study (Premium), 4-Bedroom, 4-Bedroom Dual-Key, 5-Bedroom + Study).
Floor Plan Analysis
In this section, we present our picks from each unit type offered at The LakeGarden Residences. Our goal is to provide you with valuable insights to help you discover the ideal accommodation that suits your preferences perfectly.
1-Bedroom
Our pick for the 1-Bedroom type would be the 1-Bedroom + Study variation, which has a pretty standard layout. Coming into the unit, the study is on the immediate right of the entrance – we like that the study comes enclosed because of the proximity to the kitchen area. The bathroom is also fitted with a dual entrance so that the privacy of the bedroom is not compromised when there are guests.
We find it interesting that the developers have chosen to place the balcony next to the bedroom, since they are typically placed beside the living room. The design is likely to paint an image of a lifestyle, having an area near the bedroom to wind down before turning in.
2-Bedroom
For the 2-Bedroom type, we favour the 2-Bedroom + Study variation because of the efficient layout. Boasting a dumbbell layout with the bedrooms placed on opposite ends of the unit, it creates a nice segregation of spaces and offers some privacy to the occupants of each room. This can also be a selling point for investors and landlord buyers who are going to rent out the unit.
The study is placed in a small nook next to the dining area, and owners can choose to enclose it to prevent the kitchen fumes from entering. All in all, the spaces are well-segregated and the layout is efficient with minimal space wastage.
3-Bedroom
Our pick for the 3-Bedroom type would be the 3-Bedroom + Study (Premium) under the Lakefront Collection. It is the only 3-Bedroom variation that comes with private lift access, which opens up into the private foyer before the entrance to the unit.
Coming into the unit, you will be greeted with an expansive living and dining area, as well as a large balcony that spans the length of the space. On the opposite side is a dry kitchen followed by an elongated wet kitchen that extends to the back of the unit into an L-shaped yard area, a household shelter and a WC.
The rest of the unit is where the bedrooms and bathrooms are. The spaces are nicely segregated, and the study is a separate room outside the master bedroom and opposite one of the common bedrooms. Overall, the layout offers a spacious and luxurious living experience, and is especially good for hosting parties.
4-Bedroom
The 4-Bedroom dual-key unit comes with private lift access as well, and a long private foyer that connects to the studio portion of the unit. The studio portion opens up into a small kitchen, followed by the bathroom and bedroom. The size of the studio is typical of a dual-key unit and is akin to staying in a hotel room. Dual-key owners will usually rent out the studio portion to offset part of their mortgage, or it can be used to optimise the privacy for multi-generational families.
The other side of the unit opens up into the dining and living area and balcony, lined up in a single file. On the left of the entrance is a dry kitchen area that can be turned into a pantry space to serve guests or even as a buffet area when hosting parties. The wet kitchen takes an L-shaped configuration, extending into the yard space at the back where you can also find the household shelter and WC.
Looking at the common bedrooms, we notice that one of the rooms is slightly smaller and can only comfortably fit a single-size bed. At the end of the corridor is where you will find the master bedroom, with the master bathroom tucked behind at the end of the unit.
5-Bedroom
Lastly, the 5-Bedroom units come with only the standard variation or the penthouse variation, both with private lift access. One of the main selling points of the unit is the configuration of the bedrooms. The junior master bedroom with ensuite bath is segregated on one side of the unit while the rest of the bedrooms are placed on the opposite side. Furthermore, there is one more common bedroom with an attached bathroom, bringing the total number of bathrooms in the unit to 4. This means that only the occupants of the other two common bedrooms will be required to share the common bathroom.
Closing Thoughts
The LakeGarden Residences has a unit mix that caters to a diverse range of homebuyers, injecting a fresh supply of residential units to District 22. With the Jurong Lake District primed to be transformed into Singapore’s next CBD, this waterfront residence offers a first-mover advantage for homebuyers and investors to capitalise on the future growth potential of the area. Given its premier location right next to Jurong Lake Gardens, we expect demand from buyers looking for a home in the western region and investors who are interested in the appreciation potential of the development.
If you are in the market for a new launch project, and are interested in The LakeGarden Residences, feel free to reach out to us to arrange for a showflat visit. We will be glad to guide you through the process and offer a tailored consultation to help you reach an informed decision.
Thank you for reading and following PLB. Do stay tuned as we bring you more reviews of upcoming new launch projects around Singapore.
