Caspian sits on Lakeside Drive in District 22, one of the few OCR condominiums that can legitimately claim a lakefront address alongside credible macro-economic tailwinds. Developed by Frasers Centrepoint (now Frasers Property) and completed in 2012, the 712-unit, 99-year leasehold project has quietly matured into one of Jurong's most recognisable mid-market addresses. Its seven residential blocks fan out across a landscaped podium facing Jurong Lake, and the covered linkway to Lakeside MRT (East-West Line, EW26) — a brisk two-minute walk — gives residents seamless access to the City Hall interchange in under 25 minutes. At a time when Singapore's urban gravity is shifting west, Caspian finds itself sitting at the epicentre of a transformation that planners have been building toward for more than a decade: the Jurong Lake District (JLD), earmarked as Singapore's second Central Business District. For prospective buyers evaluating resale OCR condominiums in the S$1,250–S$1,700 psf band, Caspian merits careful consideration — not as a speculative play, but as a fundamentally sound residential asset anchored by public infrastructure investment at a scale rarely seen outside the original CBD.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
District 22 encompasses the Jurong West and Boon Lay planning areas, historically associated with industrial estates and public housing rather than prime residential addresses. That narrative has been undergoing a deliberate rewrite since the Urban Redevelopment Authority (URA) gazetted the Jurong Lake District masterplan, which covers approximately 360 hectares straddling the lake and targets 100,000 new jobs and 20,000 new homes by 2040–2050. The master developer white site — a 6.5-hectare parcel capable of yielding at least 146,000 sq m of office space, 1,700 residential units, and 73,000 sq m of complementary retail — attracted a high-profile consortium of CapitaLand Development, City Developments, Frasers Property, Mitsubishi Estate, and Mitsui Fudosan. The inclusion of Frasers Property — Caspian's original developer — in that consortium underscores the developer's long-term confidence in the submarket it helped pioneer over a decade ago.
Connectivity improvements compound the locational thesis. The Jurong Region Line, targeted for full completion by 2029, will add stations west of Boon Lay, while Phase 1 of the Cross Island Line is scheduled to begin operations in 2030, giving Jurong East a fourth MRT interchange. These lines will make Caspian's Lakeside EW26 stop even more accessible to workers commuting to future JLD offices. The integrated tourism development adjacent to Chinese Garden MRT, slated for opening from 2026, signals that leisure and hospitality anchors are already arriving ahead of the office wave. Against this backdrop, Caspian's 2024–2025 resale range of S$1,253–S$1,701 psf — averaging approximately S$1,487 psf over the past year — looks comparatively measured when stacked against newer OCR launches in the north and east that regularly clear S$1,800–S$2,000 psf on smaller land tenures.
We track 131 sales and 736 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the CASPIAN dashboard.
- Average sale price: $1,570,035 across 131 transactions
- Estimated gross rental yield: 3.4%
- District 22 PSF ranking: Above average (top 31%)
- 99 yrs lease commencing from 2008 · OCR · D22 · 712 units
About CASPIAN
CASPIAN is a 99 yrs lease commencing from 2008 condominium, located at LAKESIDE DRIVE in District 22 (Jurong) (Outside Central Region), developed by FRASERS CENTREPOINT HOMES, comprising 712 residential units, completed in 2012.
With approximately 81 years remaining on its 99-year lease, the property qualifies for full bank financing and CPF usage.
Unit Mix Distribution
Transaction data breakdown by bedroom type at CASPIAN:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| Studio | 5 | $1,452 psf | $671,978 |
| 2 BR | 24 | $1,295 psf | $1,180,367 |
| 3 BR | 69 | $1,336 psf | $1,556,913 |
| 4 BR | 33 | $1,349 psf | $2,016,936 |
Sales Market Overview
CASPIAN has recorded 131 sale transactions with an average transaction price of $1,570,035, ranging from $625,000 to $2,850,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 37 | $1,169 psf | $1,372,270 | — |
| 2022 | 37 | $1,259 psf | $1,467,772 | ↑ 7.7% |
| 2023 | 15 | $1,410 psf | $1,609,533 | ↑ 12.0% |
| 2024 | 15 | $1,477 psf | $1,615,200 | ↑ 4.8% |
| 2025 | 22 | $1,537 psf | $1,872,000 | ↑ 4.1% |
| 2026 | 5 | $1,622 psf | $2,207,600 | ↑ 5.5% |
CASPIAN ranks in the top 31% of condos in District 22 by average PSF.
Compared to the OCR average of $1,550 psf, CASPIAN trades 13.8% below the segment benchmark.
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Rental Market Overview
CASPIAN has recorded 736 rental transactions with monthly rents averaging $4,480/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| Studio | 37 | $2,732/mo | $2,000/mo | $3,200/mo |
| 2 BR | 328 | $3,993/mo | $1,500/mo | $6,200/mo |
| 3 BR | 262 | $4,671/mo | $2,300/mo | $6,500/mo |
| 4 BR | 109 | $6,080/mo | $3,500/mo | $8,500/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 132 | $3,360/mo |
| 2022 | 151 | $4,004/mo |
| 2023 | 135 | $5,071/mo |
| 2024 | 134 | $4,890/mo |
| 2025 | 147 | $4,918/mo |
| 2026 | 37 | $5,029/mo |
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Investment Analysis
Based on average rents and sale prices, CASPIAN delivers an estimated gross rental yield of 3.4%. This is above the Singapore-wide benchmark of approximately 3%.
Competing Condos in District 22
Side-by-side comparison against the most actively traded condos in District 22 (Jurong):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| J'DEN | 99 yrs lease commencing from 2023 | 368 | $2,475 psf | 356 |
| THE LAKEGARDEN RESIDENCES | 99 yrs lease commencing from 2023 | 306 | $2,159 psf | 302 |
| SORA | 99 years leasehold | 440 | $2,223 psf | 223 |
| J GATEWAY | 99 yrs lease commencing from 2012 | 738 | $1,900 psf | 183 |
| THE LAKESHORE | 99 yrs lease commencing from 2002 | 848 | $1,311 psf | 172 |
Location Map
Map shows CASPIAN (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- CASPIAN
- Lakeside MRT
- Boon Lay MRT
- West Grove Primary School
- Palm View Primary School
- Corporation Primary School
Nearby MRT Stations
CASPIAN is 350m from Lakeside MRT (East-West Line), with 2 stations within 1.5 km.
Nearby Schools
There are 21 schools within 2 km of CASPIAN, including 8 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| West Grove Primary School | Primary | 230m |
| Palm View Primary School | Primary | 670m |
| Corporation Primary School | Primary | 780m |
| Shuqun Primary School | Primary | 790m |
| Lakeside Primary School | Primary | 800m |
| Boon Lay Garden Primary School | Primary | 840m |
| Assumption English School | Secondary | 930m |
| Concord Primary School | Primary | 940m |
| Boon Lay Secondary School | Secondary | 1.0 km |
| Jurong West Secondary School | Secondary | 1.1 km |
| Jurong West Primary School | Primary | 1.1 km |
| Yuan Ching Secondary School | Secondary | 1.1 km |
Caspian's most durable strength is its physical proximity to the lake and MRT in combination — a pairing that is structurally difficult for future projects to replicate given the shrinking supply of lakefront land parcels in District 22. The fully sheltered walkway to Lakeside MRT eliminates the friction of inclement weather, a genuine quality-of-life differentiator in Singapore's climate. Residents report that the walk takes roughly two minutes at a comfortable pace, placing Caspian among the most transit-accessible 99-year leasehold condominiums in the OCR west.
Facility quality relative to maintenance fees stands out in resident reviews. Multiple owners highlight a generously proportioned swimming pool, tennis court, gymnasium, badminton court, and several BBQ pavilions maintained at fees that owners describe as competitive for the size of the estate. This value-for-facilities ratio is particularly meaningful for families and owner-occupiers who use amenities regularly rather than treating them as a marketing checklist.
The 712-unit scale strikes a productive balance: large enough to support diverse facilities and a professionally managed sinking fund, yet not so sprawling that community cohesion or lift-waiting times become chronic irritants. Building maintenance has been consistently noted as above-average for a project now past its twelfth year, suggesting a well-run management corporation strata title (MCST).
From an investment perspective, gross rental yields averaging approximately 3.5% per annum are modest in absolute terms but respectable for a matured 99-year leasehold asset in the OCR. Rental demand draws on two distinct tenant pools: EWL commuters working in the CBD who prefer lower western rents, and workers employed in the Jurong industrial and logistics corridor who prioritise proximity over line access. As JLD office stock materialises, a third tenant pool — white-collar JLD workers — could compress vacancy and push rents upward. The rental yield calculator on ShiokNest can help investors model the impact of incremental rent increases on gross and net returns.
Lease decay is the primary structural risk. With a 99-year lease commencing in 2008, Caspian will have consumed approximately 18 years of tenure by mid-2026 — leaving roughly 81 years remaining. While that figure is still well within the range at which CPF usage and bank financing remain unrestricted, buyers with a 15-to-20-year investment horizon should model the lease-decay impact on exit pricing carefully. Historically, OCR leasehold condominiums in Singapore begin to see financing and buyer-pool compression once remaining tenure falls below 70 years; Caspian reaches that threshold around 2038. Prospective investors planning to hold through that window should factor in a potential narrowing of the resale market. The lease-decay calculator allows users to stress-test holding periods against different discount assumptions.
Site density is a recurring concern in resident reviews. The seven blocks are arranged on a relatively compact footprint, which means inter-block distances are closer than residents of lower-density boutique projects might prefer. Noise carry — particularly from the pool and children's playground — affects units facing internal courtyards, and privacy from neighbouring units on facing blocks can feel limited on lower floors. Buyers who prioritise seclusion or unobstructed views should request a detailed stack analysis before committing.
The immediate retail and dining ecosystem around Lakeside Drive remains thin relative to established mature estates. The nearest hawker centre and wet market require a short drive or bus ride, and while the Jurong Point mega-mall in Boon Lay is reachable by MRT in one stop, the absence of a neighbourhood-level amenity cluster within walking distance is a tangible day-to-day inconvenience for car-free households. This gap should narrow as JLD development progresses, but buyers should not expect neighbourhood retail to materialise quickly — the JLD masterplan is a decade-long buildout, and ground-floor retail in the early mixed-use parcels will primarily serve the new office towers rather than existing residential estates.
The JLD thesis, while compelling, is not without execution risk. Large-scale urban transformation projects in Singapore have historically stayed on schedule, but office absorption depends on macro conditions — global financial cycles, remote-work adoption rates, and corporate decentralisation strategies. If JLD office pre-commitments lag targets through the late 2020s, the upward rent pressure that Caspian investors are banking on may arrive later and more gradually than bullish projections suggest. Buyers should underwrite JLD as an optionality kicker, not a guaranteed near-term catalyst.
- ✅ EWL commuter owner-occupier: The two-minute sheltered walk to Lakeside MRT and under-25-minute ride to the City Hall interchange makes Caspian one of the most transit-convenient OCR addresses in the west. Buyers who work in Raffles Place or Marina Bay and want more space per dollar than Core Central Region condominiums permit will find the value proposition compelling at the current S$1,400–S$1,700 psf resale range.
- ✅ Young family seeking facilities value: Large pool, tennis court, gymnasium, badminton court, and BBQ pavilions at maintenance fees residents describe as competitive make Caspian an attractive family lifestyle option. Proximity to Lakeside Primary School and Jurong Secondary School supports the school-run calculus that anchors many family buying decisions in District 22.
- ⚠️ Buy-to-let OCR investor: Gross yields of approximately 3.5% per annum are respectable for a matured leasehold asset but leave limited buffer after mortgage servicing costs. The investment case improves materially if JLD office absorption drives western rental uplift through the late 2020s. Investors should model a conservative 10–15 year hold and review lease decay impact on exit multiples using the lease-decay calculator.
- ⚠️ JLD anticipatory speculator (short-hold): The JLD narrative is well-publicised and already partially priced into recent psf highs. Buyers expecting a rapid 2-to-3-year flip premium driven by JLD news flow may find that the market has absorbed much of the near-term catalyst. A longer hold of 7–10 years gives the masterplan time to deliver tangible employment density that pushes rents and capital values.
- ✅ Retiree or semi-retiree downsizer: Lakeside Drive's lakefront setting, quiet residential ambience, and easy MRT access for medical appointments and leisure make Caspian a genuinely pleasant retirement address. The absence of nearby hawker centre walkability is a partial drawback, but for residents with a car or those comfortable with a one-stop MRT ride to Boon Lay's amenities, the lifestyle trade-off is manageable.
- ⚠️ First-time buyer with tight TDSR: Entry-level 1-bedroom and 2-bedroom units at current resale prices remain within reach of dual-income couples, but lease decay considerations (81 years remaining) will progressively affect CPF usage rules and bank loan quantum as the tenure shortens. Buyers in this group should run a full TDSR calculation and confirm maximum CPF usage eligibility with a licensed mortgage broker before committing.
Caspian earns a measured positive verdict for buyers who approach it with clear-eyed expectations. It is not a high-growth momentum play — the JLD upside is real but long-dated, and 81 years of remaining lease demand careful modelling for investors with a defined exit timeline. What Caspian offers instead is a well-maintained lakefront address with genuine MRT convenience, solid facilities at reasonable maintenance cost, and a location that is structurally exposed to one of Singapore's most ambitious and government-backed urban transformations.
For owner-occupiers — particularly families and EWL commuters — the proposition is strong. The S$1,400–S$1,700 psf resale range delivers more space and amenity than equivalent spending in the CCR or even parts of the RCR, and the lakefront setting is a genuine lifestyle differentiator that will not depreciate. For buy-to-let investors, a 7-to-10-year hold aligned with the JLD employment buildout offers a credible path to rental growth and moderate capital appreciation, but entry assumptions should be conservative and lease decay should be explicitly modelled rather than hand-waved. Compare Caspian against other District 22 options on ShiokNest's property comparison tool or explore the full District 22 price landscape on the District 22 analytics page.
FAQ
What is the average price for CASPIAN?
What is the rental yield for CASPIAN?
Is CASPIAN freehold or leasehold?
How close is Caspian to Lakeside MRT?
Caspian is directly connected to Lakeside MRT (East-West Line, EW26) via a covered walkway. Residents consistently report a walking time of approximately two minutes under shelter, making it one of the most MRT-accessible condominiums in District 22. From Lakeside, the EWL runs directly to Jurong East (one stop west for bus connections and the upcoming Jurong Region Line interchange), City Hall (approximately 22–25 minutes), and Tanah Merah interchange for Changi Airport access.
What is the remaining lease on Caspian, and does it affect CPF usage or bank financing?
Caspian holds a 99-year lease from 2008, leaving approximately 81 years remaining as of mid-2026. At this tenure length, CPF usage and bank financing remain fully unrestricted under current HDB and MAS guidelines. However, buyers should be aware that as the remaining tenure approaches 60 years (estimated around 2048), CPF usage rules and Loan-to-Value (LTV) limits may be progressively constrained. Buyers planning to hold for 15 or more years should run a lease-decay scenario using ShiokNest's lease-decay calculator to model the impact on exit pricing.
What is the Jurong Lake District (JLD) and how does it affect Caspian's value?
The Jurong Lake District is Singapore's flagship decentralisation project — a 360-hectare mixed-use precinct designated as the country's second Central Business District. The masterplan targets 100,000 new jobs and 20,000 new homes by 2040–2050. Key milestones include the Jurong Region Line (full completion targeted 2029), Cross Island Line Phase 1 (2030), an integrated tourism development adjacent to Chinese Garden MRT (from 2026), and a master-developer office-and-residential precinct anchored by a consortium that includes Frasers Property — Caspian's original developer. As JLD employment density grows, the potential tenant pool for Caspian rentals expands, which is supportive for rental income and indirectly for capital values. The caveat is that this is a decade-long buildout, and investors should treat JLD as a structural tailwind rather than a near-term catalyst.
What are the main amenity gaps at Caspian?
The most commonly cited amenity gap is the absence of a walkable hawker centre, wet market, or neighbourhood retail cluster directly adjacent to the development. Residents who do not own a car typically take a one-stop MRT ride to Boon Lay, where Jurong Point Mall, the Boon Lay Place Food Village, and a range of supermarkets are located. Lakeside Village, a small cluster of eateries fronting the lake, provides limited casual dining within walking distance but does not fulfil day-to-day grocery and cooked-food needs. This gap is a genuine quality-of-life consideration for car-free households and is worth factoring into any comparison with more self-contained OCR estates.
Is Caspian suitable for HDB upgraders?
Caspian is a popular choice among HDB upgraders from Jurong West, Boon Lay, and Clementi who want to stay in the west while moving into private residential. The development's 99-year leasehold tenure, familiar neighbourhood, and MRT access make the transition straightforward. HDB upgraders should account for the Additional Buyer's Stamp Duty (ABSD) timeline — a 17% ABSD (for Singaporean citizens buying a second property) applies if the existing HDB flat is not disposed of within six months of the private property purchase completion. The stamp duty calculator and affordability calculator on ShiokNest are useful starting points for mapping out the full financial commitment before approaching a mortgage broker.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA.
- Sales data: 131 transactions analysed
- Rental data: 736 lease records analysed
- Gross yield = (avg monthly rent × 12) / avg sale price
Median values used to minimise outlier impact. PSF = price per square foot.
View Live Data for CASPIAN
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.
New Sale vs Resale Mix
Of the 539 condo transactions recorded in District 22 over the last 12 months, 78% resale, 22% new sale. A resale-heavy mix points to an established market trading on fundamentals; a new-sale-heavy mix means developer launches are setting the price benchmarks.
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Price Index Check
The ShiokNest Price Index for District 22 reads 151.2 as of June 2026 — down 5.7% year-on-year. The index tracks repeat-sales price movement, so it is less distorted by shifts in what happens to be transacting than a raw average PSF.
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HDB Alternatives Nearby
Weighing CASPIAN against staying public? These HDB towns sit within walking or short-drive distance:
- Jurong West — 4-room average $552,572 (230m away), an upgrader gap of about $1,050,000
- Jurong East — 4-room average $564,824 (1.3 km away), an upgrader gap of about $1,000,000