Parc Oasis Tops Jurong Two-Bedder Returns Over 10 Years

Out of all the areas in Singapore, Jurong might be one of the most challenging to define. It is one of the largest planning areas – covering a wide swath of residential, commercial, and industrial estates – and the area has experienced waves of urban development over the years.

But when we scrutinise the Jurong East and Jurong West regions, we see a mix of industrial grit, an emerging regional commercial hub, and quiet suburban neighbourhoods.

There is one thing about the residential market there that we can say for sure though: That two-bedroom condo units in Jurong East and Jurong West have never historically been the most popular options there.

In our view, two-bedders in Jurong East and Jurong West fall into the property equivalent of a ‘no-man’s land’. That is to say, these units are too small to appeal to the families that live in most of the neighbourhoods in Jurong West, and the location is too far from the Downtown Core to attract premium corporate tenants.

There were industrial zones aplenty in this part of Singapore, but the developments there seldom attract the type of tenants with big accommodation budgets for condo living.

But how has the market for two-bedroom units changed over the past decade? And what does this have to do with the evolving urban landscape of Jurong?