The 546-unit Lake Life executive condominium (EC) in Jurong Lake District attracted more than 1,200 e-applications over the long weekend, with one-third of applicants being first-time buyers.
Developed by an Evia Real Estate-led consortium, the 99-year leasehold project comprises two- to five-bedroom units ranging from 743 sq ft to 1,711 sq ft.
Listing details on PropertyGuru show that the indicative price for a two-bedder starts from around $650,000.
Strong demand was expected as it is only the second EC to enter the market in 2014 and the first to be launched in Jurong in 17 years – the last one was Summerdale in 1997. Furthermore, second-timers do not need to pay the HDB resale levy as the site tender was won before 2013.
Lake Life is also the first EC to beat the 15 months government regulation to launch e-applications.
Applicants said they were attracted to the location, which is close to several shopping malls in Jurong East such as JEM and Westgate, as well as the development’s active living concept.
The developer recently announced a partnership with True Fitness to integrate mental and physical wellness programmes in the design of Lake Life. Other facilities that will promote active living include sheltered bicycle parking bays, pet zones and urban vegetable farms.
“We had a lot of conversations with home buyers who were looking to upgrade to condominiums. We asked them what they were looking for and listened to the kind of lifestyle they aspired towards. And we implemented these in Lake Life,” said Vincent Ong, Managing Partner of Evia.
E-applications close on 12 October while bookings open on 8 November. Lake Life is expected to obtain TOP in December 2017.
Past EC projects by Evia-led consortiums include Watercolours and Heron Bay, launched in 2011 and 2012 respectively.
Image: The launch of Lake Life EC drew big crowds over the long weekend.
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
