Caspian

Overview & Key Facts

Caspian is a 712-unit condominium on Lakeside Drive in District 22, developed by Frasers Centrepoint and completed in 2012. Sitting on a 99-year lease commencing 2008, it occupies a generous land parcel within the broader Jurong Lake District — an area that the Singapore government has earmarked as the city’s second CBD, a designation that has fundamentally reshaped demand dynamics in the western corridor.

The development comprises multiple mid-rise blocks arranged around a central landscaped courtyard, with unit types ranging from two-bedroom apartments to four-bedroom and penthouse configurations. At a current average PSF of approximately S$1,567 and a mean transaction price of S$1,544,735, Caspian represents a substantial discount to newer Jurong launches — J’Den at S$2,475 psf, Lakegarden Residences at S$2,156 psf, and Sora at S$2,211 psf — while offering immediate occupancy and a proven track record.

Frasers Centrepoint’s involvement lends credibility: the developer is known for delivering solid, no-nonsense residential projects with respectable build quality and well-maintained common areas. For families in particular, Caspian’s location delivers an extraordinary concentration of primary schools within the 1 km radius — eight in total, making it one of the strongest P1 balloting addresses in western Singapore.

Location & Connectivity

Caspian’s headline location feature is its proximity to Lakeside MRT station on the East-West Line, just 350 metres from the development’s entrance — a genuine walk-to-MRT proposition in Singapore’s climate. The EWL provides direct connectivity to Jurong East interchange (one stop), Buona Vista, City Hall, and Raffles Place without transfers. Jurong East MRT, one stop away, is itself an interchange serving both the East-West and North-South lines, with the upcoming Jurong Region Line adding further connectivity.

For drivers, the Ayer Rajah Expressway and Pan Island Expressway are both easily accessible, placing the CBD within 20 minutes during off-peak hours. Jurong East’s established commercial hub — anchored by JEM, Westgate, and IMM — is a short drive or one MRT stop away, providing suburban retail, dining, and office amenities that rival many central locations.

The immediate surroundings are dominated by the Jurong Lake Gardens, Singapore’s third national garden after the Botanic Gardens and Gardens by the Bay. When fully completed, the 90-hectare lakeside park will be a transformative amenity — and Caspian sits on its doorstep. Chinese Garden and Japanese Garden, already accessible, offer residents a rare expanse of waterfront greenery that no amount of condo landscaping can replicate.

Schools & Education

7 primary schools within the 1 km Priority Phase balloting radius.

Facilities

Caspian delivers a solid, family-oriented amenity set without attempting to be a resort-style mega-development. The centrepiece is a large 50-metre lap pool complemented by a children’s wading pool, a well-equipped gymnasium, tennis court, BBQ pavilions, a function room, and a children’s playground. The landscaped grounds are well-maintained — a Frasers hallmark — with mature planting that has filled in nicely since the 2012 TOP.

The facilities list is comprehensive rather than extravagant: clubhouse, Jacuzzi, steam room, reading room, and landscaped jogging path round out the offering. For a 712-unit development, the ratio of facilities to residents is reasonable, and booking conflicts are less acute than at mega-condos with 1,000+ units competing for the same amenities.

What Caspian lacks in headline-grabbing amenities it compensates for with proximity to the Jurong Lake Gardens — a genuine outdoor lifestyle asset. Residents have effectively free access to waterfront jogging and cycling paths, open lawns, and curated gardens that dwarf any private condo facility. This external amenity is not something that depreciates or requires maintenance fees.

Unit Sizes & Layout

Caspian’s unit mix spans two-bedroom to four-bedroom configurations, with sizes that reflect the more generous space standards of the late-2000s design era. Two-bedroom units start from approximately 700 sqft, three-bedrooms from around 1,000 sqft, and four-bedrooms from 1,300 sqft — meaningfully larger than equivalent configurations in post-2015 new launches where 3-bedrooms can dip below 900 sqft.

Layouts are generally efficient with regular, rectangular rooms that furnish well. Most units feature enclosed kitchens — a practical advantage for Singaporean cooking habits that many newer open-concept layouts sacrifice in pursuit of visual spaciousness. Balconies are present but proportionate, avoiding the oversized outdoor spaces that inflate newer units’ gross area without adding functional living space.

Finishings are mid-market, consistent with Frasers’ positioning at the time of launch. After 14 years, most resale units will have undergone some degree of renovation. Buyers should factor in S$30,000–$60,000 for a meaningful refresh of kitchens and bathrooms if purchasing a unit that has not been recently updated.

Pricing & Market Position

Across 136 recorded transactions (all-time), sale prices range from $625,000 to $2,850,000, averaging $1,583,637.

Over the last 12 months, transactions averaged $1,583 psf.

Rents range from $1,500 to $8,500 per month across 763 rental transactions. Current rental yield sits at approximately 3.4%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at CASPIAN typically rent harder per dollar of purchase price. The final column shows monthly rent per $100,000 invested, so unit sizes compare on equal capital:

Price Appreciation

From 2021 to 2026, the average PSF has appreciated by 36.1% (from $1,169 to $1,590 psf).

Neighbourhood Comparison

The competitive landscape in Jurong has shifted dramatically with the wave of new launches. J’Den at S$2,475 psf offers a fresh 99-year lease and modern specifications directly above Jurong East MRT, but at a 58% premium over Caspian. Lakegarden Residences (S$2,156 psf) and Sora (S$2,211 psf) similarly price in the Jurong Lake District transformation premium with brand-new leases. J Gateway, the closest comparable resale at S$1,894 psf, offers slightly newer finishings (TOP 2016) and Jurong East MRT adjacency but at a 21% premium.

The more revealing comparison is with Westwood Residences at S$1,256 psf. Westwood is newer but further from MRT and lacks Caspian’s school concentration advantage. Caspian’s 20% premium over Westwood is justified by the MRT proximity and school access alone. Against the new launches, buyers are essentially choosing between paying S$1,567 for a proven product with 81 years of lease, or S$2,100–$2,475 for a fresh lease and new finishings — a S$500,000+ premium on a typical 3-bedroom unit.

For own-stay buyers with a 10–15 year horizon, the math favours Caspian. You save substantially upfront, avoid the 3–4 year wait for TOP, and still benefit from the same Jurong Lake District transformation that the new launches are pricing in. For investors focused on yield, Caspian’s 3.44% gross yield comfortably outperforms the new launches, which typically yield below 3% at current asking prices.

Lease Decay Analysis

The 99-year lease runs from 2008, meaning approximately 18 years have already been consumed. Roughly 81 years remain — still comfortably within the range where most banks will offer full financing without restrictions.

For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~71 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates CASPIAN across multiple dimensions.

What Residents Say

“Very convenient location near Lakeside MRT. The kids love the pool and playground, and having Jurong Lake Gardens so close is a huge bonus on weekends. Good maintenance by the MCST.”

— Resident review via PropertyGuru

“Decent condo for the price. Units are spacious compared to newer builds. Only downside is the finishing is showing its age and you will need to renovate.”

— Resident review via EdgeProp

“We chose Caspian specifically for the primary school options. Eight schools within 1 km — nowhere else in the west can match that. The MRT walk is easy even with young children.”

— Resident review via 99.co

The resident sentiment pattern is consistent: praise for MRT proximity, school access, and the Jurong Lake Gardens setting, tempered by notes on ageing finishings and the absence of luxury-tier facilities. The Frasers management standard is generally well-regarded, with common areas and landscaping kept in good condition relative to the development’s age. The community skews heavily toward Singaporean families — a profile that aligns with the school-proximity appeal.

Strengths & Weaknesses

Verdict

Caspian occupies a compelling sweet spot in the Jurong Lake District market. At S$1,567 psf, you are paying 35–40% less than the newest Jurong launches while getting immediate occupancy, proven Frasers build quality, and a location that is arguably better than some of those newer projects for MRT access. The 350-metre walk to Lakeside MRT is a genuine differentiator — not every new launch in the area can claim the same.

For families, the case is even stronger. Eight primary schools within 1 km is an extraordinary concentration that few condominiums in Singapore can match, making Caspian a standout address for P1 Phase balloting. Add Jurong Lake Gardens at the doorstep, a functional facilities set, and units sized for actual family living, and the daily quality-of-life proposition is hard to beat at this price point.

The honest constraints: 81 years remaining on a 99-year lease means the clock is ticking, and while full bank financing remains available today, the lease will increasingly weigh on resale values beyond the 20-year horizon. En-bloc potential is low (score of 17) given the relatively young age and large unit count. The PSF trend — S$1,169 to S$1,537 over five years — shows healthy appreciation, but buyers should be realistic that the steepest gains may be behind us as the development moves further into mid-life.

The right buyer for Caspian is a family that values space, school proximity, and MRT access over brand-new finishings and lease length. If you are planning to live here for 10–15 years and prioritise daily convenience over exit strategy optimisation, Caspian delivers more tangible value per dollar than almost any new launch in the Jurong corridor.