According to property analysts interviewed, the development plans for Jurong may increase the potential for private sales in the area, but location and pricing are key to the success of these projects, and new projects must be priced at a level that is affordable to buyers.

The recent announcements of several developments in Jurong, including the redevelopment of Jubilee Place into a 40-storey residential development and the relocation of Anglo-Chinese School to Tengah, have attracted more attention and seemingly more activity in the private sector in the area.

On the 10th of this month, Lakeside Towers once again launched its second round of collective sale bidding at an asking price of $350 million, which is 14.7 per cent higher than the asking price of the project when it was last tendered in 2018.

Last year, the Lakeside Apartments and Park View Mansions were among the few successful collective sales in the district at $273.9 million and $260 million respectively.

In addition, Lakepoint Condominium, which was unsuccessfully put up for tender in June last year, and Ivory Heights, which was repeatedly put up for sale but failed to secure 80% support from homeowners, are expected to be put up for sale again. These two projects were previously reserved at $640 million and $1,932 million respectively.

Other private residential projects in Jurong that are over 20 years old and have the potential to be put up for sale include Parc Oasis and Parc Vista.

In an interview with the Union-Tribune, Cushman & Wakefield head of research Wong Hin Yeung pointed out that recent infrastructure development projects such as the Jurong Lake District Development Plan, the Jurong Innovation District and Tuas Port, as well as the new Cross Island Line and Jurong Regional MRT Line, have indeed helped drive up property prices in Jurong over time, giving older private residential projects the potential to be put up for sale.

However, he believes that the most important factor in the success of a pooled sale project is the price.

"The merits of a project depend on the individual project, but price is key. New private residential projects in Jurong must be priced to compete with other suburban projects, while also looking at the affordability of buyers in the area."

Minnie Tse, head of real estate and collective sales at Knight Frank Capital Markets, agrees that location is important. She said private residential projects with collective sales potential must be located within a popular residential area, close to an MRT station and have unobstructed views.

If a project is located in an existing residential area, it is on a site that may attract nearby residents to buy it when it is redeveloped into a new project," she said in an interview. In addition, the existing size of the project and the asking price are both factors to consider."

ERA's Head of Industrial Research and Advisory, Mak Chun Wing, believes that Jurong's distance from the city centre makes it less attractive for private housing overall than central Singapore. "Some buyers perceive Jurong as an industrial town that is far from the city and it will take some time to change that perception."

Jurong Township is the largest municipality in the west, comprising Jurong East, Jurong West, Boon Lay and the Pioneer District, which has a number of private housing projects that are more than 20 years old.

Under our ordinance, private housing projects that are 10 years old or older can be sold collectively, but require the consent of owners who own at least 80 per cent of the strata area and share of the strata lease.

In addition to the planned residential developments in Jurong, the recent move of Anglo-Chinese School (primary school) to the neighbouring town of Tengah in Jurong is expected to increase the interest of developers in private residential developments in Jurong.

According to Leifang's Head of Consulting, Mr Chan Chin-ching, the "forest town" theme of Tengah, coupled with the ongoing construction of the Jurong MRT line, is already attractive. Now, the strong sales of the Copen Grand condominiums in the area and the relocation of the Anglo-Chinese School to the area have raised expectations among young families.

However, Mr Mak believes that although Anglo-Chinese School will be moving to Tengah, it does not mean that the demand for housing in this area will be the same as in popular areas such as Bishan.