What does the Jurong Lake District really means for Bukit Batok Sellers or Buyers?

I find that a surprisingly large number of my clients are unsure about what the Jurong Lake District really means for them.


Sellers may go, "Yes, it was featured in the news... But it doesn't really affect us right? Since we're going to sell right now?"


Buyers typically say, "Yes, but this is future development. The government hasn't even built it yet."


When I sell a unit, I stress on future investment. When you buy a house, you do not just buy the interior of the flat, you also buy the facing, the location, the proximity to amenities, and - I'm not exaggerating - the future of Singapore.


This is especially obvious for PR buyers. I have had PR buyers share with me that they believe Singapore is a safe and good place to raise their kids, that they believe Singapore flat prices will surely rise because of the limited supply.


I think it's safe to say that when buyers choose a location over so many other choices, they already believe in "future investment" - that the government will pump in money to upgrade the estate, to build hospitals and other infrastructures, to build future MRTs, etc. All of us are buying into the hope that the location we have chosen will prosper.


No one would make an investment in a location that is stagnant, or worse, will deteriorate over the years, nor does anyone wish to make a loss. We are all optimistic that the value of Singapore's flats will increase, slowly but steadily in the future.


Another point is, buyers who look for own stay generally stay for at least 8 to 10 years before they start thinking of changing their environment, be it upgrading, downgrading, or even moving to another location altogether.


All of us who have moved houses before know what a hassle it is to go for constant viewings, the agonising wait for HDB 1st and 2nd Appointments, the headache of renovations, and the "joys" of packing and then unpacking all the stuff we have accumulated over the years! I reckon it's safe to say that no person would desire to repeat the whole process on a frequent basis.


Of course, this does not apply to buyers who are looking for investment by buying a unit to rent out.


Generally, most buyers with foresight will be looking at long term investment, at least 5-10 years. As the building progress develops on the Jurong Lake District project and it is featured more frequently in local news, the prices in the surrounding area will rise. I cannot stress enough to potential buyers who are cynical about this "future investment" - Buy now or regret later, please don't miss the boat!


I also wonder, will Jurong become a mini-Marina Bay? Will buyers be priced out in the Jurong prime area in future?


The surrounding towns like Bukit Batok, Bukit Panjang, and Choa Chu Kang are also worth notice in my opinion. If one day buyers or tenants are priced out of the Jurong Lake District, they may jolly well look for more affordable alternatives nearby.


As such, even if you as a homeowner does not intend to sell at this point in time, you should be in a prime position to take advantage of the "ripple" effect in future.