Developed by MCL Land, the 738-unit project is expected to sell a 474sq ft one-bedroom unit for as high as S$1,650 psf while a 1,163sq ft four- bedder could go for S$1,450 psf on average, said marketing agent Huttons.
J Gateway: Expected to be the next hottest property in suburban homes going for as much as S$1600.
While the S$1,650 psf selling price would be a record for Jurong East, International Property Advisor Chief Executive Ku Swee Yong said, buyers will likely be drawn to buy as J Gateway is the first condo near the Jurong East MRT station in 10 years. For instance, an agent said he has received 100 queries from interested buyers in just a matter of three weeks.
Meanwhile, Alan Cheong, Research Head at Savills Singapore, said: "If you adjust for J Gateway's location within the new Jurong Lake District, the range of S$1,450 psf to S$1,650 psf is definitely expected."
Cheong also noted that if J Gateway is well-received with its launching prices, it will likely create a ripple effect on the prices of other homes in the area.
"It's like disturbing a quiet pond. With one mega launch like this, it will certainly create waves around the region," added Cheong.