Last Updated: Mar 08, 2020
The High Speed Rail (HSR) mega project finally saw the inking of signatures between Malaysia and Singapore on 13 Dec 2016. This express train service drastically cuts down commuting time between Kuala Lumpur and Singapore to 90 minutes from 5 hours by car.
This ambitious linkage marks a gigantic step towards a closer relationship between the 2 countries. It goes beyond the physical convenience for travelers. The HSR clearly signifies the maturity of these 2 closely-knitted brothers that were once a upon a time one family.
Commercially, much can be benefitted for both nations.
At the Singapore end, the HSR project forms a significant, if not the pivotal component of the Jurong Lake District (JLD), the second CBD of Singapore. The HSR’s terminus will be built on the current Jurong Country Club (JCC). However it will only occupy a fraction of the whole JCC, freeing the remaining land for development of retail businesses, commercial offices, recreational outfits and residential new condo launches.
From Jurong East to the westerly area, the western part of Singapore had always been the neglected region. Residential developments, from public flats to private condos to landed houses, demands had never been exciting. New condo launches were far and few, and if there had been one, it would have been met by crawling take-up rate. More often, developers of new condo launch had to entice buyers with discounts and other freebies.
Things took a complete turn when the government divulged the emergence of a second CBD in the Jurong area, complete with the aggressive HSR project. Overnight the sleepy West received a new breath of life, creating a phenomenon beyond everybody’s wildest dream! J Gateway, a new condo Singapore launch that was opened to public in mid-2013, saw a complete sell-out within 24 hours!
Subsequent new launch condos, Lakeville and Lake Grande followed suit, with superb take-rates. And yes, these 3 new launches were priced “not all at cheap”!
So thanks to the second CBD and the HSR, Jurong area finally receives all the attention. Among other things, the Singapore property market has found a platinum region in the western part of Singapore, and has attracted home buyers and investors, both locals and foreigners. It will continue, for a long time, to be a premium region, and more new property launches can be expected in the future!
With this, buyers should take advantage of this piece of good news and look seriously into buying a condo for sale in this part of Singapore. Don’t wait till all the dust has settled and prices have increased to tell yourself, “I should have listened and bought the last time when my agent told me to!” A lot of buyers have taken the leap of faith even before they heard the news that the High Speed Rail was coming to Jurong Lake District. You should too now that you have heard and seen the news.