Executive condominium Lake Life 95 per cent sold on first day

 An artist's impression of Lake Life Executive Condominium (EC). -- PHOTO: EVIA REAL ESTATE
 An artist's impression of Lake Life Executive Condominium (EC). -- PHOTO: EVIA REAL ESTATE

SINGAPORE - Executive condominium (EC) Lake Life in Jurong saw an overwhelming response from buyers with 95 per cent of its units, or 521 units, sold as of Saturday.

The 546-unit project at Jurong Lake District opened for booking on Saturday, and the strong sales means that the project's response is likely the best among all launches since June last year when the Total Debt Servicing Ratio framework was introduced.

Sales quickly hit 50 per cent by noon and at 4pm, 446 units were sold.

Mr Vincent Ong, managing partner of Evia Real Estate, which is leading Lake Life's consortium of the developers, said: "We are delighted by the overwhelming response that we've seen from buyers so far. We believe that the popularity of Lake Life can be attributed to its prime location, with Jurong set to become the next hottest address, as well as the condo's first-of-a-kind active living concept."

Units were sold at an average of $857 per sq ft (psf).

Prices range from $799 to $930 psf, with an average of $685,000 for a two-bedroom, $898,000 for a three-bedroom unit, and $984,000 for a three-bedroom premium.

Lake Life, the first executive condominium project in Jurong in 17 years, was expected to be a hit with buyers after it received the highest number of e-applications for an EC project in Singapore.

Another EC in Jurong, at Westwood Avenue, near Nanyang Technological University, will be launched after the first quarter of next year by a joint venture comprising Koh Brothers and Heeton Holdings.

rachaelb@sph.com.sg