During its debut weekend, Lucerne Grand moved 350 of the 570 available units, averaging $2,480 per square foot, marking the first private development launched in more than two years near Jurong Lake District.
Strong Interest in High-End and Family Units
City Developments Ltd (CDL), the firm behind Lucerne Grand, revealed that 61% of the 570-unit condo project was sold during the October 3-4 weekend. The overall average price was $2,480 per square foot. Prices started at $1.498 million for two-bedroom units (624 sq ft), $1.988 million for three-bedroom units (883 sq ft), and $2.788 million for premium four-bedroom units (1,152 sq ft).
First New Private Launch Near Jurong Lake
This 99-year leasehold mixed-use development marks the first new private residential option in over two years for those interested in living near the Jurong Lake District. CDL reports that 93% of buyers are Singaporeans, with the remaining 7% being Permanent Residents from Malaysia, China, India, Bangladesh, Myanmar, and South Korea.
According to Huttons Asia, two-bedroom units were particularly popular, with around 65% sold over the weekend. Mark Yip, Huttons Asia’s CEO, suggests these units attracted investors aiming to capitalize on the rental demand expected from the Jurong Lake District’s development.
Lucerne Grand’s proximity to the Jurong Lake District, which will generate approximately 100,000 jobs, is a major draw. The nearby Jurong Innovation District, accessible via the Jurong Region Line and PIE, further enhances its appeal as a rental hub, Yip notes.
Realion (OrangeTee & ETC) Group, one of the marketing agencies, says that the average price of the two-bedroom and three-bedroom premium + study units was approximately $2,502 psf and $2,498 psf, respectively. Over 85% of the four-bedroom premium units were also bought, while more than 60% of the three-bedroom units were snapped up.
West Residents Favor Larger Family Units
Most of the buyers are residents in the West, and are mainly owner-occupiers who prefer family-sized units like three- and four-bedders, says Yip. He points out that these two configurations have been the best-selling unit types among new launch projects in 2026, as buyers place space high on their priority list.
Huttons Asia’s analysis shows three- and four-bedroom units near Lucerne Grand achieved median annualized returns of 3.8% and 4.5%, respectively. Yip believes this indicates strong capital appreciation potential for these unit types at Lucerne Grand.
Realion also says that HDB upgraders made up a significant portion of buyers this weekend. Justin Quek, deputy CEO of Realion, says firm HDB resale prices for younger (less than 20 years old) four- and five-room flats in the nearby towns of Bukit Batok, Jurong East, and Jurong West supported sales by HDB upgraders.
Realion’s data shows that in the first nine months of 2026, median prices for younger four- and five-room flats were $680,000 and $828,000 in Bukit Batok, $620,000 and $720,000 in Jurong East, and $630,000 and $725,944 in Jurong West.
Upcoming Projects Won’t Threaten Lucene
Mohan Sandrasegeran from SRI notes that upcoming land supply in Jurong East provides Lucerne Grand with a favorable launch window, free from immediate competition from other new projects.
Within the broader Jurong area, the Town Hall Link white site is scheduled to close for tender on 17 November 2026, and it has the potential to yield approximately 1,200 residential units. Separately, an Executive Condominium site at Jurong East Avenue 1, which could yield an estimated 735 units, is expected to be launched for tender in December this year.
These sites represent meaningful future residential supply for the broader Jurong market, but neither is expected to translate into immediately competing completed launch inventory when Lucerne Grand enters the market, says Sandrasegeran.
Upcoming Developments in the Area
Lucerne Grand is entering the market after a prolonged absence of new private launches in Jurong West. Future Government Land Sales (GLS) supply in the broader Jurong area remains further along the development pipeline. This timing allows the project to face less immediate competition.
