1.         Private Homes in Jurong are Highly Profitable

Being situated in one of the top five suburban districts that yield the highest returns, investing in a condo in Jurong is a smart move for those seeking profitable opportunities.

            There are 3 key reasons why condos in Jurong or District 22 (D22) offer a lucrative prospect for investors who are looking to grow their wealth:

1.     1) Private homes in Jurong are highly profitable

2.     2) 360 condos made more than half a million profits

3.    3) Stay in Singapore’s second CBD without having to pay luxury home prices

If you are seeking profitable transactions, look no further. Did you know that 84.3 per cent of properties in District 22 have been profitable, according to URA data from 1995 to 2023? This percentage has surpassed the profitability rate of other condos located in the suburban OCR (Outside of Central Region), which stands at 82.1 per cent, and that of condos located island-wide, which is at 81.7 per cent.

Moreover, District 22 has been proven to be one of the top five districts that generated the highest gross profits historically. Data shows that condos in Jurong yielded a whopping S$334,906 in average gross profit. 

2. 360 Condos in District 22 Made More Than Half A Million Profits 

With about 360 condominiums being sold for gross profits of more than S$500,000, and more than 50 condos making a gross profit of over S$800,000, properties in District 22 are highly lucrative. In fact, 19 units have made more than S$1 million!

The highest profit was recorded for a condo at The Centris, which was purchased for S$881,010 in 2006 and resold in 2013 for S$2.25 million, yielding a gross profit of S$1.37 million. The second-highest profit was for another unit at The Centris, with a purchase price of S$778,837 and a resale price of S$2.15 million in 2023, resulting in a gross profit of S$1.37 million.

The profitability of Jurong condos may be higher due to their stronger appreciation in value compared to other suburban condos. For instance, resale condos in District 22 have seen a price increase of 104.9 per cent from 2010 to 2023, faster than the 89.4 per cent for other resale condos in the suburbs. With this significant difference in the resale price growth between condos in D22 and those in OCR, it is no wonder that many condos in Jurong were able to achieve high profitability over the past decades!

3. Stay in Singapore's second Central Business District without having to pay luxury home prices

Many new developments will be happening in the western part of Singapore. Exciting business and employment opportunities are available for Singaporeans in three new employment areas such as Jurong Lake District (JLD), Jurong Innovation District (JID), and Tuas Port. These districts will feature new infrastructure and urban solutions which will help create a more pleasant environment to work and live for everyone.

Further, the Jurong Lake District, spanning 360 hectares, is set to become the largest mixed-use business district outside of the city centre. It will offer high-quality offices, housing, amenities, and ample green spaces. Moreover, a leisure and recreational cluster is planned around Jurong Lake to take advantage of the area's picturesque lakeside and garden setting. By 2035, the district will be served by 4 MRT lines, providing enhanced accessibility to residents, workers, and visitors, including direct connections to the CBD, Changi Airport and JID.

However, buyers should not wait too long. They should take advantage of today’s opportunity to buy a condo before supply catches up. URA has announced the sale of a 6.5-hectare master development site through a tender process. The site has the potential to yield around 1,700 residential units, at least 1.57 million sqft of office space, and 785,480 sqft of space for building shops, restaurants, hotels, entertainment facilities, and community spaces.