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Thread: Jurong Lake District development - Potential upside or just hype?

  1. #1
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    Default Jurong Lake District development - Potential upside or just hype?

    Hi all,

    Firstly, I would like to find out your thoughts on the proposed Jurong Lake district development. Do you think it is overhyped like Punggol 21 or is there real potential upside?

    Secondly, I have a exec apt bordering Jurong Lake worth about 500K. Should I sell or keep and rent out? Rental yield for EA is pretty low....maybe $2K monthly rent. Even if there is potential upside to Jurong Lake District, the time horizon for development is pretty long....10-15 years

  2. #2
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    When you think it's reality... It's hype...
    Put $ where the mouth is.. At the moment... what is the action there ??
    Talk of Lake district... Blue print.. hmmmmm.......

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    it will just be a passing phase. With no mrt line going into the heart of the lake district, the place is not very accessible

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    Quote Originally Posted by Regulators
    it will just be a passing phase. With no mrt line going into the heart of the lake district, the place is not very accessible

    there a flower call Daffodil .. found in Windermere .. Lake District ..UK

    theres also a Block Daffodil ..in the EC in Choa chu kang ...Windermere .. But far from Jurong's Lake District ...

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    i think the upside potential is high. the "horse" minister already said that some ministries is going to move there by 2015. following by that announcement, the govt put up the Jurong site for tender. so i think these few events have already trigger the development of jurong lake district. it might be in phases but if ministries have to move to jurong lake district by 2015. definitely by 2015 we can see some development there. so i believe the price in jurong is creeping up slowly. tats my thought!

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    Your rental yield 2/500 which is 4% is not bad what. Wait till u see some new condos in the city with yield of only 2%. Query is if you sell, what r u going to do with the $? To spend away or to invest in other areas?

    I think it will take shape but will take a long time. If you cannot wait type and prefer to flip properties, then the obvious choice would be the mickey mouse units in the city - now East Coast also got lots of mickey mouse units - a lot of speculative demand. Speculator A sells to Speculator B to Speculator C - just make sure you're not Speculator Z. The govt agencies are already moving out of the city to Jurong - and those companies serving the govt agencies might follow suit. So, in short, it will take shape but its going to take YEARS.

    Quote Originally Posted by mm63
    Hi all,

    Firstly, I would like to find out your thoughts on the proposed Jurong Lake district development. Do you think it is overhyped like Punggol 21 or is there real potential upside?

    Secondly, I have a exec apt bordering Jurong Lake worth about 500K. Should I sell or keep and rent out? Rental yield for EA is pretty low....maybe $2K monthly rent. Even if there is potential upside to Jurong Lake District, the time horizon for development is pretty long....10-15 years

  7. #7
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    Quote Originally Posted by Regulators
    it will just be a passing phase. With no mrt line going into the heart of the lake district, the place is not very accessible
    errrr......no MRT going there?? you sure??


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    My situation is I need to move out of my flat to somewhere near my children's school.

    My possible options are:

    1. Sell HDB and rent condo (about$3K-$3.5K rent) near school. Keep 500K and wait for mkt to stabilize (if ever?!) and then buy.

    2. Keep HDB and rent out and then rent condo near school for myself.

    3. Keep HDB and rent out. Take out mortgage on flat (my flat is currently fully paid up) to make downpayment and buy condo near school (take higher loan)

    4. Sell HDB and buy condo near school (take lower loan)

    I may possibly stay near the school for 10 years (primary and secondary)




    Quote Originally Posted by Wild Falcon
    Your rental yield 2/500 which is 4% is not bad what. Wait till u see some new condos in the city with yield of only 2%. Query is if you sell, what r u going to do with the $? To spend away or to invest in other areas?

    I think it will take shape but will take a long time. If you cannot wait type and prefer to flip properties, then the obvious choice would be the mickey mouse units in the city - now East Coast also got lots of mickey mouse units - a lot of speculative demand. Speculator A sells to Speculator B to Speculator C - just make sure you're not Speculator Z. The govt agencies are already moving out of the city to Jurong - and those companies serving the govt agencies might follow suit. So, in short, it will take shape but its going to take YEARS.

  9. #9
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    Well, the area around Jurong East is definitely going to see appreciation over the next 10yrs. I do not have to explain why and if you think that the Jurong Lake district is a hype, make a trip there and take a look at the ongoing constructions. The roads and MRT tracks are all upgraded/being-upgraded to make way for heavier traffic. There are also constructions around Chinese Garden and Tang Dynasty (former). Upcoming office buildings and Jurong Hospital is a clear sign the government's blueprint will be executed. The government won't put a hospital there for no reason or cancel the plan to build one there.

  10. #10
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    To mm63:
    my situation is very similar to u, i have max 2-yr time-line. Find that current prices is really quite (very) high. Have you considered (5) keep and rent out existing HDB, and then rent another HDB to stay in temp till mkt 'stabilises', or just (6) sell HDB (high) and buy HDB (high) and pocket monies to invest later in condo?

    all comments are welcome please, esp views on ppty prices from now till 2012.


    Quote Originally Posted by mm63
    My situation is I need to move out of my flat to somewhere near my children's school.

    My possible options are:

    1. Sell HDB and rent condo (about$3K-$3.5K rent) near school. Keep 500K and wait for mkt to stabilize (if ever?!) and then buy.

    2. Keep HDB and rent out and then rent condo near school for myself.

    3. Keep HDB and rent out. Take out mortgage on flat (my flat is currently fully paid up) to make downpayment and buy condo near school (take higher loan)

    4. Sell HDB and buy condo near school (take lower loan)

    I may possibly stay near the school for 10 years (primary and secondary)

  11. #11
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    Hi, buying or renting another HDB is not an option as there is no HDB near the school


    Quote Originally Posted by whoh757
    To mm63:
    my situation is very similar to u, i have max 2-yr time-line. Find that current prices is really quite (very) high. Have you considered (5) keep and rent out existing HDB, and then rent another HDB to stay in temp till mkt 'stabilises', or just (6) sell HDB (high) and buy HDB (high) and pocket monies to invest later in condo?

    all comments are welcome please, esp views on ppty prices from now till 2012.

  12. #12
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    the Big Box site next to JE mrt until now still abandoned collecting rain water and grow grass ....

  13. #13
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    Well, from what I can see now......

    1. Jurong East entertainment centre has already been torn down and rebuilding. I heard Capitaland wants the new mall up by end 2011.

    2. There are ongoing works around Jurong Lake. Improved walkways, walking platforms that extend out into the lake etc.

    3. Plans to build new Science Centre at Chinese Garden MRT

    Big Box site is currently abandoned because owners went bust. Not directly related to government's plan.

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    Sorry..repeat post. Deleted

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    don forget the canadian school

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    Quote Originally Posted by ay123
    don forget the canadian school
    Canadian school has not been spared in the recent crisis. Work has been indefinitely delayed and completion date unknown (as far as I know)

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    Quote Originally Posted by mm63
    Canadian school has not been spared in the recent crisis. Work has been indefinitely delayed and completion date unknown (as far as I know)
    some update on that matter.

    http://www.kueducation.com/press-roo...hool-at-Jurong

  18. #18
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    Quote Originally Posted by pearly
    yes, this is the latest development....... wave is coming to jurong

  19. #19
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    Good to know....hope it really materializes this time.

    However, would the opening Canadian school affect HDB? I think it would only be beneficial to the surrounding condo owners e.g Parc Oasis, Lakeshore, Caspian etc.

    Quote Originally Posted by pearly

  20. #20
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    Quote Originally Posted by mm63
    Good to know....hope it really materializes this time.

    However, would the opening Canadian school affect HDB? I think it would only be beneficial to the surrounding condo owners e.g Parc Oasis, Lakeshore, Caspian etc.
    Need to watch out for the traffic flow, not sure the orientation of the main gate now, traffic congestion is common during start and end of school.

  21. #21
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    without the mainland chinese and parapoondeks supporting jurong, we wont be seeing the kind of prices we see of jurong today.


    Quote Originally Posted by ay123
    i think the upside potential is high. the "horse" minister already said that some ministries is going to move there by 2015. following by that announcement, the govt put up the Jurong site for tender. so i think these few events have already trigger the development of jurong lake district. it might be in phases but if ministries have to move to jurong lake district by 2015. definitely by 2015 we can see some development there. so i believe the price in jurong is creeping up slowly. tats my thought!

  22. #22
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    Quote Originally Posted by mm63
    My situation is I need to move out of my flat to somewhere near my children's school.

    My possible options are:

    1. Sell HDB and rent condo (about$3K-$3.5K rent) near school. Keep 500K and wait for mkt to stabilize (if ever?!) and then buy.

    2. Keep HDB and rent out and then rent condo near school for myself.

    3. Keep HDB and rent out. Take out mortgage on flat (my flat is currently fully paid up) to make downpayment and buy condo near school (take higher loan)

    4. Sell HDB and buy condo near school (take lower loan)

    I may possibly stay near the school for 10 years (primary and secondary)
    I don't think your 3rd option is possible. Banks has recieved instruction not to take in HDB for equity loan. Unless you play cheat and sell to "own people" and mortgage up to 80% (90% has been chopped recently unless special case) which in the eye of law will be fresh loan for purchasing a resale flat for that person, otherwise, all gear-up loan, line of credit facility tied to HDB are NOT possible anymore.

    Oh ya.. HDB got some reversed mortgage loan for senior citizens, payout monthly. That one can.

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