{"id":29549,"date":"2019-09-17T10:00:08","date_gmt":"2019-09-17T02:00:08","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=29549"},"modified":"2022-06-13T17:24:08","modified_gmt":"2022-06-13T09:24:08","slug":"99-researcher-rise-of-singapores-west-region","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/99-researcher-rise-of-singapores-west-region\/","title":{"rendered":"99 Researcher: Rise Of Singapore\u2019s West Region"},"content":{"rendered":"
<\/div>

Prices of some private properties in the West Region rose by over 40% over the last decade.<\/strong><\/p>\n

From its origins as a sleepy region in Singapore, the western part of the country has since transformed into a vibrant lifestyle and commercial destination, and more developments are in the pipeline.<\/span><\/p>\n

It started with the announcement of the <\/span>Jurong Lake District<\/span><\/a> (JLD) development as part of the 2008 Masterplan. The Government had announced plans to transform the area into Singapore\u2019s second central business district (CBD), with works slated for a 2040 completion.\u00a0<\/span><\/p>\n

When completed, the 360-hectare JLD will be the largest mixed-use business district outside the city centre, with offices, housing, amenities and abundant green spaces. The district will test-bed new urban solutions and infrastructure to support better integrated living and working environments.\u00a0<\/span><\/p>\n

\"\"
Source: URA<\/em><\/figcaption><\/figure>\n

The announcement sparked off massive revisualisation and revitalization of interest in the West. This can be observed in the steady growth of home prices in the region over the past decade.<\/span><\/p>\n

<\/h3>\n

Long-term uptrend<\/h2>\n

There were <\/span>only a handful of new condo projects in the West Region about a decade ago and we’ve been seeing a long-term uptrend in prices for these properties. They include: Yewtee Residences<\/a>, Botannia<\/a> and Caspian<\/a>.<\/span><\/p>\n

As captured in the graph below using <\/span>99.co\u2019s Researcher<\/span><\/a> tool, prices of these properties saw capital appreciation of between 35% to slightly over 40% from a per square foot (psf) basis from 2009 and 2019.<\/span><\/p>\n

\"\"<\/p>\n

Source: 99.co\u2019s Researcher<\/i><\/a> tool<\/i><\/strong><\/h4>\n

 <\/p>\n

The growth story continues<\/h2>\n

Come 2035, the West will be served by 6 rail lines, connecting more residents to key employment, recreation and leisure areas. This comes especially with the introduction of the <\/span>Jurong Region Line (JRL)<\/span><\/a> and Cross Island Line (CIL), which will provide residents with more commuting options to the rest of the island.\u00a0<\/span><\/p>\n

\"property-investors-office-singapore-jurong-cbd\"
Artist’s impression of JLD<\/em><\/figcaption><\/figure>\n

Notably, there will be 24 new stations to our MRT network along the JRL, which will open in three phases starting from 2026. These stations were confirmed in <\/span>May 2018<\/span><\/a> by the Land Transportation Authority (LTA).<\/span><\/p>\n

From observation, one of the newer condo projects that directly benefited from the JRL announcement was Le Quest<\/a> by Qingjian. This can be seen in the huge response to its Phase Two preview in 2Q2018, as well as a nearly 10% spike in its average transacted psf since its launch in Q32017.<\/span><\/p>\n

\"\"Source: 99.co\u2019s Researcher<\/i><\/a> tool<\/i><\/strong><\/h4>\n

We attribute the increase in pricing and demand for the project to its heightened accessibility following the announcement of the new JRL stations. The site of the development is just across the road from the future Tengah Park station, which puts Le Quest residents just three stops away from the action \u2014 and a direct MRT link to the CBD \u2014 at Jurong East.<\/span><\/p>\n

In addition, those who move in now are also likely to be able to leverage the first-mover advantage, not unlike the early buyers of <\/span>J Gateway<\/span><\/a>, which was one of the first residential developments in Jurong Gateway. The project sold out in record time in 2013.<\/span><\/p>\n

Going forward, we do expect to see continued demand for homes in the West, especially amongst those looking to capitalise on these long-term plans and those who are sold on being part of the larger growth story of the West.<\/span><\/p>\n

How do you think property prices in the West Region will behave moving forward? <\/span><\/i>Voice your thoughts in our comments section or on <\/span><\/i>our Facebook community page<\/span><\/i><\/a>.<\/span><\/i><\/p>\n

Looking for a property? Find the home of your dreams today on Singapore\u2019s largest <\/span><\/i>property portal 99.co<\/span><\/i><\/a>! You can also <\/span><\/i>access a wide range of tools to calculate your down payments and loan repayments<\/span><\/i><\/a>, to make an informed purchase.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Prices of some private properties in the West Region rose by over 40% over the last decade. From its origins as a sleepy region in Singapore, the western part of the country has since transformed into a vibrant lifestyle and commercial destination, and more developments are in the pipeline. It started with the announcement of…<\/p>\n","protected":false},"author":88,"featured_media":29551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53589,57131],"tags":[55726,54778,54779,55727,55728],"persona":[],"class_list":{"2":"type-post","14":"entry","15":"has-post-thumbnail"},"acf":[],"yoast_head":"\n99 Researcher: Rise Of Singapore\u2019s West Region - 99.co<\/title>\n<meta name=\"description\" content=\"From its origins as a sleepy region in Singapore, the western part of the country has since transformed into a vibrant lifestyle and commercial destination, and more developments are in the pipeline. 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