The sales launch of Lucerne Grand saw 61% of the 570-unit condominium sold during the sales launch over the Oct 3 and 4 weekend. City Developments Ltd (CDL), the developer behind Lucerne Grand, announced that it had sold 350 units, with the average price across the entire project coming in at $2,480 psf.
Units were priced from $1.498 million for a two-bedroom unit (624 sq ft), $1.988 million for a three-bedroom unit (883 sq ft), and $2.788 million for a four-bedroom premium unit (1,152 sq ft).
The 99-year leasehold, mixed-use development is the first new private residential development in over two years that Lakeside residents, and others who have been eyeing a home next to the Jurong Lake District, have had a chance to consider.
About 93% of the buyers are Singaporeans, while the remaining 7% are Permanent Residents (PRs) from Malaysia, China, India, Bangladesh, Myanmar and South Korea, according to CDL.
“We are encouraged by the healthy response at Lucerne Grand, which reflects homebuyers’ appreciation for its distinctive combination of connectivity, convenience and nature,” says Sherman Kwek, Group CEO of CDL, adding: “We believe the development will continue to appeal to homebuyers and investors seeking a well-connected address with excellent amenities and growth potential”.
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The two-bedroom units at Lucerne Grand were among the most popular unit types picked up by buyers, with around 65% of this unit configuration sold this weekend, according to Huttons Asia, one of the marketing agencies. This unit type was likely favoured by investors looking to tap into the tenant pool generated by the Jurong Lake District transformation, says Mark Yip, CEO of Huttons Asia.
“Lucerne Grand is next to the Jurong Lake District transformation, which will create around 100,000 jobs. Another key employment hub, the Jurong Innovation District, is easily accessible via the Jurong Region Line and the PIE. These two districts may offer a sizeable pool of tenants,” says Yip.
Realion (OrangeTee & ETC) Group, one of the marketing agencies, says that the average price of the two-bedroom and three-bedroom premium + study units was approximately $2,502 psf and $2,498 psf, respectively.
In addition, over 85% of the four-bedroom premium units were also bought, while more than 60% of the three-bedroom units were snapped up. For a comprehensive review of Lucerne Grand, including information about the unit types available, read our Condo Review here.
Previous new launch projects were SORA, which launched in 2024, and The Lakegarden Residences, which first hit the market in 2023.
Marcus Chu, Chief Executive Officer, ERA Singapore, says that the encouraging booking response comes as new launch activity gradually returns to a more typical rhythm, offering a clearer reflection of underlying buyer demand across the primary residential market.
"Lucerne Grand's booking response reflects buyers' continued confidence in developments that offer strong connectivity, everyday convenience and long-term growth potential. While buyers remain discerning, they continue to respond positively to projects with strong locational attributes and an attractive overall value proposition," he says.
In addition, the new condo is next to Lakeside MRT station on the East-West Line, and there is a commercial component as part of the development comprising a supermarket and other retail and F&B options.
“Accessibility remains one of the strongest drivers of residential demand. Developments that offer residents excellent public transport connectivity and established amenities remain highly attractive,” says Chu.
Most of the buyers are residents in the West, and are mainly owner-occupiers who prefer family-sized units like three- and four-bedders, says Yip. He points out that these two configurations have been the best-selling unit types among new launch projects in 2026, as buyers place space high on their priority list.
Based on an analysis of transactions by Huttons Asia of the projects close to Lucerne Grand, the three- and four-bedroom units had the best median annualised returns of 3.8% and 4.5%, respectively. This bodes well for the expected capital performance of these types of units at Lucerne Grand, says Yip.
Realion also says that HDB upgraders made up a significant portion of buyers this weekend. Justin Quek, deputy CEO of Realion, says that firm HDB resale prices for younger (less than 20 years old) four- and five-room flats in the nearby towns of Bukit Batok, Jurong East, and Jurong West supported sales by HDB upgraders.
According to market data compiled by Realion, in the first nine months of 2026, younger four- and five-room flats in Bukit Batok recorded median prices of $680,000 and $828,000, respectively. In Jurong East, the median prices were $620,000 and $720,000, while in Jurong West, they were $630,000 and $725,944, respectively.
In our Price Review of Lucerne Grand, we pointed out that Lucerne Grand is one of the most attractively priced new launch projects that the market has seen this year, yet carries a psf premium over most private residential resale developments in D22.
Looking ahead, Mohan Sandrasegeran, Head of Research & Data Analytics at SRI, says that the future land supply pipeline in this part of Jurong East also provides Lucerne Grand with a relatively clear launch window.
Within the broader Jurong area, the Town Hall Link white site is scheduled to close for tender on 17 November 2026, and it has the potential to yield approximately 1,200 residential units. Separately, an Executive Condominium site at Jurong East Avenue 1, which could yield an estimated 735 units, is expected to be launched for tender in December this year.
“These sites represent meaningful future residential supply for the broader Jurong market, but neither is expected to translate into immediately competing completed launch inventory when Lucerne Grand enters the market,” says Sandrasegeran.
He says that the pipeline supply created a favourable launch window for Lucerne Grand, with the Lakeside development entering the market after a prolonged absence of new private launches in Jurong West, while future GLS supply in the broader Jurong area remains further along the development pipeline.
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