SingaporeCDL's Lucerne Grand Sells 61%
The 99-year Jurong Lakeside project sold 350 units over the launch weekend, with prices starting from S$1.5 million for a two-bedroom unit. The average price per square foot was S$2,480.
Global Newsflix 2 min read
City Developments Ltd's (CDL) Lucerne Grand project in Jurong sold 61% of its 570 units over the launch weekend, with 350 units sold as of 6 pm on Sunday. The project was priced on average at S$2,480 per square foot.
Approximately 93% of the buyers were Singaporeans, while the remaining 7% were permanent residents from countries such as Malaysia, China, and India.
Prices at the project started from S$1.5 million for a two-bedroom unit, S$2 million for a three-bedroom unit, and S$2.8 million for a four-bedroom unit. PropNex CEO Kelvin Fong described these prices as 'relatively affordable'.
The development has a commercial space on the ground floor and is directly linked to Lakeside MRT, located on the East-West Line. CDL clinched the plot of land in June 2025 for S$608 million or S$1,132.08 per square foot per plot ratio.
Analysts attributed the healthy take-up rates to the project's close proximity to the MRT station. Nicholas Mak, chief research officer at Mogul.sg, noted that the launch-weekend sales of mixed-use projects launched this year ranged from 56.9% to 98.8%.
The development's location near the Jurong Lake District, which is envisioned to become Singapore's largest business district outside the city centre, also provided a positive long-term backdrop, according to PropNex's Fong.
Sherman Kwek, CDL group CEO, said the company was encouraged by the healthy response at Lucerne Grand, which reflected homebuyers' appreciation for its combination of connectivity, convenience, and nature.
Key facts
- 350 units sold at Lucerne Grand over the launch weekend
- Prices started from S$1.5 million for a two-bedroom unit
- Average price per square foot was S$2,480
- 93% of buyers were Singaporeans
Three perspectives
Neutral
The sales figures for Lucerne Grand are a positive sign for the property market. The project's location and pricing strategy appear to have appealed to buyers. The response to the project will be closely watched by developers and analysts.
Positive
The strong sales at Lucerne Grand reflect the project's attractive location and relatively affordable prices. The development's proximity to the MRT station and the Jurong Lake District are major draws for buyers.
Negative
Some analysts may be concerned that the sales figures are not as high as some other recent launches. The project's pricing strategy may not be competitive enough to attract more buyers.
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