Project Spotlight: Why Lakeville is the most transacted resale condo in District 22
Located in District 22, Lakeville is within walking distance of Jurong Lake and Lakeside MRT Station (Photo: Samuel Isaac Chua/EdgeProp Singapore).
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The importance of Jurong cannot be understated due to extensive government plans to transform Jurong Lake District (JLD) into Singapore’s secondary CBD. JLD is expected to be centred around the existing dual-line Jurong East MRT Station. JLD is within District 22, which encompasses Jurong East, Jurong West, Pioneer, Boon Lay and Tuas.
These transformative plans for Jurong align with Singapore’s overarching efforts to decentralise, which will allow more people to work near their homes.
Operational MRT stations in District 22 include Lakeside, Chinese Garden, Boon Lay, Pioneer, Joo Koon, Gul Circle, Tuas Crescent, Tuas West Road and Tuas Link stations. However, the MRT network for Jurong is expected to be expanded upon completion of the Jurong Region Line (JRL) in 2029.
The entire JRL will have three interchange stations, namely Choa Chu Kang (with the North–South Line), Boon Lay (with the East–West Line) and Jurong East (with the North–South and East–West lines). Additionally, the Ayer Rajah Expressway, Pan Island Expressway and Kranji Expressway run through the district.
Amenities within District 22 include IMM, Westgate, JEM, Taman Jurong Shopping Centre, Boon Lay Shopping Centre, Pioneer Mall, Boon Lay Place Market and Food Village, Yuhua Village Market and Food Centre, Teban Gardens Market and Food Centre, Jurong West Hawker Centre, Jurong East Bus Interchange, Jurong West Stadium and Sports Centre, Chinese Garden and Japanese Garden, as well as Science Centre Singapore.
Primary schools within the district include Boon Lay Garden Primary School, Corporation Primary School, Frontier Primary School, Jurong Primary School, Jurong West Primary School, Lakeside Primary School, Pioneer Primary School, Rulang Primary School, Shuqun Primary School, West Grove Primary School, Westwood Primary School, Xingnan Primary School and Yuhua Primary School.
The government’s plans for JLD are expected to bring improvements to infrastructure and the addition of amenities in Jurong, which could result in greater demand for homes in the town. Other towns in the West Region are also expected to experience some spillover benefits.
Lakeville: Most transaction in District 22
At the time of writing, there are 19 completed condos in District 22, representing almost 11,000 units. Additionally, the district features three condos that are still under construction, namely J’den, Sora and The Lakegarden Residences.
J’den and The Lakegarden Residences were launched in 2023, but the condos had very different launch performances. During its launch in November 2023, J’den reported a take-up rate of 88%, while The Lakegarden Residences achieved a take-up rate of only 23% when it was launched in August 2023. Based on caveats lodged at the time of writing, the 368-unit J’den has achieved a take-up rate of 96.5% at an average price of $2,457 psf. Meanwhile, 284 caveats, at an average price of $2,152 psf, have been lodged for the 306-unit The Lakegarden Residences, indicating an improved take-up rate of 92.8%.
Sora is the most recent launch in District 22. The 440-unit condo was launched in July 2024, achieving a take-up rate of 23% at launch. Based on the 206 caveats lodged to date, the condo has since achieved an take-up rate of 46.8% and an average price of $2,220 psf.
Among the completed condos in District 22, last year’s highest resale volume of 38 transactions was reported for Lakeville, followed by Lake Grande (32 transactions), J Gateway (30 transactions) and The Lakeshore (30 transactions). These four developments are also the only condos in District 22 with at least 30 resale transactions last year (see Table 1).
Last year, there were a total of 274 resale transactions for condos in District 22. Meanwhile, 32 condo units in District 22 have changed hands so far this year.
Convenient location
Lakeville is a 99-year leasehold condo located along Jurong Lake Link in District 22. The condo obtained its temporary occupation permit (TOP) in 2017, making it nine years old. Its land lease commenced in 2013, so it has a long remaining lease of approximately 86 years.
Lakeville features 686 units, comprising a mix of one-bedroom to five-bedroom units. The majority of the units measure 560 sq ft to 1,528 sq ft. The wide variety of unit types and sizes means that there is something for all types of households, which could explain the robust demand for the condo.
Another reason for Lakeville’s popularity among buyers could be its proximity to amenities such as Lakeside MRT Station, Jurong Central Plaza, Jurong East Stadium, the Sport Hall and Swimming Complex, as well as Jurong Lake (see Map 1).
Schools within a 1km radius include Jurong Primary School, Rulang Primary School, Shuqun Primary School, Fuhua Secondary School, Hua Yi Secondary School, Jurongville Secondary School, Yuan Ching Secondary School, Yuhua Secondary School and Canadian International School (Lakeside Campus).
Source: EdgeProp LandLens
Popular despite higher average resale price
Since 2015, the average resale price of condos in District 22 ($1,532 psf) has been below that of its peers in the West Region ($1,757 psf) and islandwide ($1,812 psf) (see Chart 1). However, condos in District 22 (45.8%) have reported significantly stronger price growth since 2020 compared to those islandwide (35.6%). Price growth for condos in District 22 are also on par with those in the West Region (46.9%).
This could indicate that condos in District 22 are not only an affordable option but also have strong potential for healthy capital appreciation.
Notably, the average resale price of Lakeville ($1,858 psf) is consistently higher than that of 99-year leasehold condos in District 22 ($1,532 psf) and islandwide ($1,732 psf) (see Chart 2).
Despite its higher price, Lakeville remains popular among buyers. Last year, 38 units in Lakeville were sold, representing 14.1% of the 270 resale transactions for 99-year leasehold condos in District 22. This is an increase from the 30 units in Lakeville that were sold in 2024, which accounted for 11.7% of 256 transactions in District 22.
Cheaper than some condos in the same district
Although Lakeville has an average resale price that is higher than its counterparts in District 22, it is still cheaper than some of the 99-year leasehold condos in the same district. Based on this year’s resale transactions, J Gateway ($2,096 psf) has the highest average resale price, followed by Lake Grande ($1,859 psf) and Lakeville ($1,858 psf). These three condos are the only ones with an average resale price exceeding $1,500 psf (see Table 2).
At the time of writing, five other 99-year leasehold condos in District 22 reported an average resale price above $1,200 psf. These five condos are The Lakefront Residences ($1,740 psf), The Centris ($1,689 psf), The Lakeshore ($1,475 psf), Parc Oasis ($1,216 psf) and The Mayfair ($1,201 psf).
A reason for the high price commanded by J Gateway could be its location in the heart of JLD. The condo is a short walk to the dual-line Jurong East MRT Station, Jurong East Bus Interchange, Westgate and JEM (see Map 2). Another reason could be that the condo is only 10 years old, having obtained its TOP in 2016.
Source: EdgeProp LandLens
Notably, J Gateway is more than 2km away from Lakeville, but Lake Grande, which commands the second-highest average resale price, is adjacent to Lakeville (see Map 3). Their close proximity could explain why Lake Grande ($1,859 psf) and Lakeville ($1,858 psf) have similar average resale prices.
Apart from their prices and locations, both condos are similar in age. Having obtained its TOP in 2019, Lake Grande is only two years younger than Lakeville.
Source: EdgeProp LandLens (as at 24 February 2026)
Strong profitability
At the time of writing, Lakeville has recorded 176 profitable transactions, with profits ranging from approximately $5,800 to $972,000. The condo reported only four unprofitable transactions, with losses ranging from around $16,000 to $44,000.
So far this year, only one resale transaction has been recorded for Lakeville, and it yielded a profit of $757,334 for the seller. The property involved is a three-bedroom unit on the fifth storey. The seller purchased the 1,141-sq ft unit from the developer in April 2016 for $1.363 million ($1,194 psf) and sold it in January for $2.12 million ($1,858 psf).
Notably, the profit from this year’s sole transaction for Lakeville is the 10th highest for the condo (see Table 3). Additionally, these 10 transactions are the only ones at Lakeville that generated profits exceeding $750,000.
Interestingly, the most profitable transaction, which resulted in a record-high profit of $972,394, took place recently. The seller of the Lakeville unit purchased the 1,270-sq ft property from the developer in July 2015 for $1.558 million ($1,226 psf) and sold it in December 2025 for $2.53 million ($1,992 psf).
The sellers of these profitable units likely benefitted from their long holding periods of about 10 years. Since its launch, the average price of Lakeville has grown by 40.2%, from $1,325 psf in 2014 to $1,858 psf this year (see Chart 3).
In contrast, the seller of the unit that yielded the most recent unprofitable transaction held the property for less than a year. The seller purchased the 1,528-sq ft unit in May 2024 for $2.7 million ($1,766 psf) and sold it in January 2025 for $2.68 million ($1,753 psf), resulting in a loss of $20,000. Since the unit was held for less than a year, the seller would likely have to pay Seller’s Stamp Duty (SSD), further increasing their loss.
This same unit was involved in an earlier transaction that resulted in a profit of about $670,000. The previous seller bought the unit from the developer in April 2014 for $2.03 million ($1,328 psf) and sold it in May 2024 for $2.7 million ($1,766 psf) (see Table 4). Notably, this seller held the unit for approximately 10 years.
Proximity to international school increases rent
The average rent for Lakeville ($5.75 psf/month) has consistently trended above that of condos in District 22 ($4.36 psf/month) and islandwide ($4.79 psf/month) (see Chart 4). Moreover, Lakeville (67.2%) has reported stronger rental growth since 2020 compared to its peers in District 22 (65.2%) and islandwide (51.6%).
The stellar rental performance of Lakeville could be attributed to its location adjacent to Canadian International School (Lakeside Campus). Its close proximity to an international school could make Lakeville an attractive choice for expatriates with school-going children.
Conclusion
Among the completed condos in District 22, Lakeville stands out because of its high resale volume, indicating its popularity among buyers. Several factors could have driven demand for this condo.
Firstly, the condo is conveniently located near amenities such as Lakeside MRT Station, Jurong Lake and Jurong Central Plaza. The government’s plans for Jurong Lake District are expected to bring more amenities and infrastructure improvements to Jurong and the West Region. The upcoming JRL is expected to bring greater connectivity to Jurong and the West Region.
Additionally, the average price for Lakeville has been on a steady upward climb, resulting in numerous profitable transactions since its launch. Sellers of the unit that generated the highest profit, as well as the unit that yielded the most recent profitable transaction, benefited from the condo’s strong price growth over the years. Both sellers held their units for approximately 10 years.
In addition to owner-occupiers, Lakeville probably appeals to investors as well because of its high average rent. The condo’s close proximity to an international school could have boosted rental demand from expatriate families with school-going children.
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