Is buying a property in Jurong East a good investment?

Last updated on December 20, 2023

Yes, the analysis of Singapore's property market is included in our pack

If you've experienced the shopping centers and recreational opportunities in Jurong East, you may have envisioned calling this bustling Singapore precinct your family-friendly and exciting urban home.

Is it a good idea though? What's the current state of the real estate market in that area? Are property values appreciating or depreciating? Are investors seeing returns on their real estate investments? How's the demand for rentals?

We'll answer all these questions for you! When building and updating our property pack for Singapore, our team has been researching and surveying this area. In fact, there is significant customer interest in investing there. Therefore, we believe it would be beneficial to include some information about it in our property pack.

Why do property buyers like investing in Jurong East?

Jurong East in Singapore stands out as a prime location for property buyers, and there are several reasons why it's become a hot spot in the real estate market.

One of the most significant aspects that set Jurong East apart from other areas in Singapore is its unique blend of accessibility, amenities, and ongoing development.

Firstly, Jurong East boasts exceptional connectivity. It's well-served by major expressways and has excellent public transport links, including the Jurong East MRT station, which is a key interchange connecting multiple lines.

This connectivity makes it an attractive option for those who value easy access to various parts of Singapore, whether for work or leisure.

In terms of amenities, Jurong East is a treasure trove. It's home to large shopping malls like JEM, Westgate, and IMM, offering a wealth of shopping, dining, and entertainment options.

The area also features the Jurong Lake Gardens, a haven for nature lovers, and the Science Centre, a popular attraction for families. These amenities provide a balanced lifestyle, which is a strong draw for potential property buyers.

Jurong East started gaining popularity as a residential area in the late 2000s, with the government's announcement of the Jurong Lake District transformation. This plan aimed to develop Jurong East into a vibrant commercial hub, attracting businesses and boosting employment opportunities.

As a result, the area has seen a steady increase in demand for housing, driven by both locals and expatriates working in the vicinity.

The future of Jurong East remains promising. The ongoing development of the Jurong Lake District and the upcoming Kuala Lumpur-Singapore High-Speed Rail terminus are set to further enhance its appeal. These developments are likely to sustain the hype around Jurong East, making it a continually attractive location for property investment.

The demographic attracted to Jurong East is diverse. It appeals to young professionals and families due to its blend of urban conveniences and green spaces.

The area's development as a commercial hub also makes it attractive to expatriates and investors looking for properties with good rental yield potential.

However, every location has its downsides, and Jurong East is no exception. One potential weakness is the higher property prices, which can be a barrier for some buyers.

Additionally, with its rapid development, some residents have expressed concerns about overcrowding and the loss of the area's original charm.

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Why is Jurong East a nice place to live?

Jurong East is often celebrated as a great place to live, and there are numerous reasons for this.

The area offers a unique lifestyle and culture, shaped by its diverse community and modern urban development.

The lifestyle in Jurong East is characterized by a blend of convenience and leisure. It's a bustling area, yet it maintains a certain calmness, thanks to its well-planned urban spaces and green areas like the Jurong Lake Gardens.

The culture here is a melting pot of influences, reflecting Singapore's multicultural fabric. This diversity is also evident in the array of dining and shopping options that cater to various tastes and preferences.

The expat community in Jurong East is quite significant, largely due to the area's development as a commercial hub. Expatriates are drawn here by the employment opportunities and the high standard of living. The community is well-integrated, contributing to the area's vibrant international atmosphere.

Living in Jurong East can be relatively costly, particularly when compared to some other parts of Singapore. This is a reflection of the area's development, modern amenities, and its growing popularity. However, many find the cost justified by the quality of life offered here.

Safety is a key feature of Jurong East, as with most of Singapore. The area is well-regarded for its low crime rates and the general sense of security that residents enjoy. This peace of mind adds to the attractiveness of the area as a residential choice.

Speaking of amenities, Jurong East is well-equipped. For shopping and entertainment, there are malls like JEM, Westgate, and IMM, which offer a wide range of retail and dining options.

Educational needs are served by several schools, including Fuhua Primary School and Crest Secondary School. Healthcare facilities are also readily available, with Ng Teng Fong General Hospital providing comprehensive medical services.

The quality of infrastructure in Jurong East is top-notch. Roads are well-maintained, and utilities function reliably. Internet connectivity is excellent, which is a significant advantage for both residents and businesses. This robust infrastructure supports the area's lifestyle and contributes to its appeal as a residential location.

Accessibility is another strong point for Jurong East. It's well-connected to the rest of Singapore via major expressways and excellent public transportation options. The Jurong East MRT station is a major interchange, linking several train lines and making travel across the city convenient.

Additionally, the area is relatively close to major transport hubs like Changi Airport, making international travel hassle-free.

Public transportation in Jurong East is efficient and comprehensive. The MRT network, along with a well-serviced bus system, ensures that residents can easily access different parts of Singapore without relying on private vehicles.

In all, Jurong East offers a dynamic and comfortable living environment. Its blend of modern amenities, efficient infrastructure, and a vibrant, safe community makes it a highly sought-after area for both locals and expatriates.

While the cost of living might be on the higher side, many find it a worthwhile investment for the quality of life it affords.

How much does it cost to buy real estate in Jurong East?

If you need a detailed and updated analysis of the prices, rents and yields, you can get our full guide about real estate investment in Singapore.

Buying a property in Jurong East, varies in cost depending on several factors, including the type of property and its location within the neighborhood.

In Jurong East, you'll find a variety of residential properties ranging from apartments and condominiums to executive condominiums (ECs) and, less commonly, landed houses. The area is particularly known for its high-rise living options, reflecting the urban development trend in Singapore.

The most in-demand properties in Jurong East tend to be apartments and condominiums. This preference is driven by a combination of factors including affordability, modern amenities, and the convenience of living in a high-density, well-connected urban area.

Condominiums in Jurong East are especially popular due to their additional facilities like swimming pools, gyms, and security services.

In terms of the market composition, Jurong East has both new developments and resale properties. In recent years, there has been a surge in new developments, partly due to the government's focus on transforming the area into a second Central Business District. These new developments are often priced at a premium due to their modern features and strategic locations.

The price range for properties in Jurong East varies widely. For a rough idea, apartments and condos can range from SGD 1,000 to SGD 1,500 per square foot, though this can go higher for luxury units or new developments with premium facilities. The pricing is reflective of the area's growing status as a key commercial and residential hub in Singapore.

Over recent years, property values in Jurong East have seen a general upward trend. This increase is attributable to ongoing development projects and the area's growing appeal as a residential and commercial destination.

Future developments, like the Jurong Region Line and the Jurong Innovation District, are expected to further boost the area's appeal, potentially leading to an increase in property values.

Predicting the real estate market's future in Jurong East, one can expect continued interest and investment, especially with the government's commitment to developing the area. These developments, along with the high demand for properties, suggest a potential for continued growth in property values.

Several factors indicate a potential increase in value for properties in Jurong East. The ongoing infrastructure development, the area's evolving status as a commercial hub, and the high demand for residential properties in well-connected urban areas are key indicators.

Additionally, the government's long-term plans for the area, including improvements in connectivity and amenities, are likely to make Jurong East an even more attractive option for property buyers in the coming years.

Where is the best area to buy a property in Jurong East?

When it comes to buying property in Jurong East, the "best" area really depends on your preferences and needs.

Jurong East is diverse in its offerings, with different parts of the neighborhood catering to varied tastes and requirements.

Firstly, if you're looking for a vibrant, urban atmosphere, the area around Jurong East Central is ideal. This part of Jurong East is bustling with activity, being close to major shopping malls like JEM, Westgate, and IMM.

Here, you'll mostly find high-rise condominiums and apartments. The property prices in this area tend to be on the higher side due to the convenience and array of amenities available.

On the other hand, if you prefer a quieter, more laid-back setting, the area around Chinese Garden and Jurong Lake might be more appealing. This part of Jurong East offers a more serene environment, with the added benefit of green spaces like the Chinese Garden and Jurong Lake Gardens.

The properties here are a mix of older and newer developments, with prices varying depending on the age and condition of the property.

An up-and-coming area within Jurong East that buyers should be aware of is the region near the International Business Park and Teban Gardens. This area is seeing a lot of development, with new residential projects and commercial establishments coming up. The appeal of this area lies in its potential for growth and development, making it a promising spot for property investment.

In terms of specific areas to consider for buying property, the vicinity of Jurong East MRT station is a smart choice. Properties in this area are in high demand due to the convenience of transport connectivity, making it an attractive location for both living and investment.

Conversely, areas that might be less advisable are those that are currently undergoing major construction or redevelopment. These areas might face issues like noise and dust pollution in the short term.

Also, areas farther from the MRT stations or major amenities might not offer the same level of convenience and could see slower property value growth.

Here is a summary table to help you visualize better. If you need more detailed data and information, please check our property pack for Singapore.

Area	Atmosphere	Property Types	Price Range	Notable Features
Jurong East Central	Vibrant, Urban	High-rise Condominiums, Apartments	Higher Side	Close to major shopping malls, urban conveniences
Chinese Garden / Jurong Lake	Quieter, Serene	Mixed older and newer developments	Varied	Near green spaces, serene environment
International Business Park / Teban Gardens	Developing	New Residential Projects	Varies	Area of growth and development, new projects
Near Jurong East MRT	Convenient, High-demand	Varied	Higher Side	Excellent transport connectivity
Areas undergoing major construction	Less advisable currently	Varies	Varies	Short-term construction disturbances

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Is there a strong rental demand in Jurong East?

Jurong East does indeed experience a strong rental demand, and this is shaped by various factors including the area's development, demographics, and property types.

The rental demand in Jurong East is more skewed towards long-term rentals. This trend is influenced by the area's growing status as a commercial and residential hub.

With the presence of business parks and international companies in the vicinity, there's a steady flow of professionals, both local and expatriate, looking for long-term accommodation.

The target demographic for rental properties in Jurong East mainly comprises young professionals, expatriates working in the nearby business hubs, and families. These groups are typically looking for modern, well-located properties that offer convenience and a good quality of life.

Apartments and condominiums, especially those close to the MRT stations and business parks, are particularly in demand.

The profiles of these potential tenants are quite specific. Professionals and expatriates often prefer modern apartments or condos with amenities like gyms, pools, and security services. Families, on the other hand, might look for larger apartments or condos that are close to schools and parks, valuing space and a child-friendly environment.

Certain amenities can significantly reduce vacancy rates. Properties with facilities such as swimming pools, gyms, and communal areas are often more attractive to tenants.

Proximity to amenities like shopping malls, public transportation, and parks also adds to a property's appeal. For instance, properties near JEM, Westgate, and Chinese Garden are likely to be more sought-after.

The potential returns on investment for rental properties in Jurong East are quite promising. While specific numbers can vary widely, landlords can generally expect a decent yield, thanks in part to the high demand for rentals.

Properties in prime locations or newer developments with desirable amenities can command higher rents, thus potentially offering better returns.

Looking at the types of properties gaining more demand, modern condominiums and apartments, especially those in well-connected areas or near business hubs, are increasingly popular.

They not only meet the lifestyle expectations of the target tenant groups but also offer the potential for better rental yields due to their high demand.

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Is it easy to buy a property as foreigner in Jurong East?

Before we answer the question, please know that we have an article dedicated to the experience of buying real estate as a foreigner in Singapore.

Buying property as a foreigner in Jurong East, Singapore, involves navigating certain regulations and understanding the local property market.

While it's possible for foreigners to buy property in Singapore, there are some restrictions and specific processes they need to be aware of.

Firstly, foreign buyers in Singapore face restrictions when it comes to purchasing landed residential properties – they are generally not allowed to buy these without government approval.

However, foreigners are free to purchase condominium units or apartments in non-landed developments, which are common in Jurong East.

The purchasing process for foreigners is similar to that for locals but with additional legal and administrative steps. Upon deciding on a property, a foreign buyer typically pays an Option to Purchase fee to reserve the property.

This is followed by the signing of the Sale & Purchase Agreement and payment of the remainder of the down payment. Foreign buyers also need to pay the Additional Buyer's Stamp Duty (ABSD), which is higher for foreigners compared to local buyers.

One primary risk associated with property investment in Jurong East, or Singapore in general, is the fluctuating property market. Prices can be high, and with the additional costs imposed on foreign buyers, it's important to consider the long-term investment potential.

Another risk is the potential for changes in government policies, which can impact property values and rental yields.

Common pitfalls for foreign buyers include underestimating additional costs such as the ABSD, legal fees, and property taxes. Another mistake is not fully understanding local market trends and regulations, which can lead to less informed investment decisions.

Each country has its unique property market dynamics, and Singapore is no exception with its specific rules and market behaviors.

Working with a local real estate agent or lawyer is highly advisable for foreign buyers. A local expert can provide valuable insights into the Jurong East property market, help navigate the legal and regulatory landscape, and assist in finding properties that match the buyer's requirements and investment goals.

Common exit strategies for property investors in Jurong East include selling the property after a period of capital appreciation or renting it out to generate rental income. Given the area's strong rental demand, the latter can be a viable long-term strategy.

However, it's important for investors to stay informed about the local property market trends and regulatory changes, which can influence the optimal timing and approach for their exit strategy.