Lake Life EC sells 98% of units by second day of launch

Executive condominium Lake Life (artist's impression pictured) has capped off a solid weekend, selling 98 per cent of units by Sunday. -- PHOTO: EVIA REAL ESTATE
Executive condominium Lake Life (artist's impression pictured) has capped off a solid weekend, selling 98 per cent of units by Sunday. -- PHOTO: EVIA REAL ESTATE

Executive condominium (EC) Lake Life has capped off a solid weekend, selling 98 per cent of units by Sunday.

The project, which was launched on Saturday, has sold 534 out of its 546 units.

It had sold 95 per cent of the units on the day of its launch.

Units at the project by Evia Real Estate range from $799 to $930 psf, with an average of $685,000 for a two-bedroom, $898,000 for a three-bedroom unit, and S$984,000 for a three-bedroom premium.

Evia managing partner Vincent Ong said the pricing likely drew the crowds.

"Today, because of cooling measures and bank loan rules, the absolute quantum of the unit you buy is more important than the psf price," he said.

"So when we priced our units, we studied the demographics of Jurong and considered what would be affordable for people in this area and we decided that most of our units should be $1.1 million at most."

Lake Life's location, in an area that is set for a major uplift by the Government, as well as the fact that there has not been an EC in Jurong for 17 years were also big draws, Mr Ong added.

The remaining 12 unsold units are three to five-room homes, mostly on the ground or second floor, he said.