CDL's Lucerne Grand launch moves 61% of 570 units at average S$2,480 psf
City Developments Ltd (CDL) successfully sold 61% of units at its new Lucerne Grand condominium project in Jurong during its launch weekend. Analysts suggest the strong performance is driven by the project's proximity to public transit and competitive pricing.
Why it matters
The sales data provides a barometer for the health of the Singaporean property market and consumer demand for mixed-use developments.
Prices at the 99-year Jurong Lakeside project start from S$1.5 million for a two-bedroom unit
[SINGAPORE] City Developments Ltd’s (CDL) Jurong condominium project Lucerne Grand sold 61 per cent of its 570 units at its weekend launch, the developer said on Sunday (Oct 4).
A total of 350 units were sold as at 6 pm on Sunday, in the project that was priced on average at S$2,480 per square foot (psf).
Approximately 93 per cent of the buyers are Singaporeans, while the remaining 7 per cent are permanent residents from countries such as Malaysia, China and India.
Prices at the 99-year Jurong Lakeside project started from S$1.5 million for a two-bedroom unit, S$2 million for a three-bedroom and S$2.8 million for a four-bedroom, which PropNex CEO Kelvin Fong said was “relatively affordable”.
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