Lake Life EC in Jurong nearly sold out

by Tan Liang Tuan Gigi 11 Nov 2014

THE 546-unit Lake Life, the first executive-condominium (EC)project in Jurong in 17 years, opened for bookings last Saturday and is already close to being completely sold out after the opening weekend.

Evia Real Estate, the head of the project's consortium of developers, reported that 98 per cent - or 534 units - have been sold as of 5pm on Sunday. A total of 521 units were snapped up on Saturday alone.

This gave Lake Life the distinction of having sold the most units on the first day of sales for both ECs and private condominiums in Singapore since June 2013, when the Total Debt Servicing Ratio framework was first introduced.

"We believe that the popularity of Lake Life can be attributed to its prime location, with Jurong set to become the next hottest address, as well as the condo's first-of-its-kind active living concept," said Evia's managing partner Vincent Ong, who had initially expected to sell about half the units during the weekend.

Unit prices for the 99-year leasehold project in Yuan Ching Road range from S$799 to S$930 per square foot, a much broader range compared to the earlier indicative prices of S$880 to S$890 psf.

The average price for a unit is S$685,000 for a two-bedroom, S$898,000 for a three-bedroom, and S$984,000 for a three-bedroom premium.

Four-bedroom units go for an average price of S$1.07 million, and $1.088 million for a four-bedroom premium. Five-bedroom units cost an average of S$1.388 million.

The next EC in Jurong - at Westwood Avenue near Nanyang Technological University - will be launched after the first quarter of 2015.

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