Lakeville

Overview & Key Facts

Lakeville is a 696-unit condominium on Jurong Lake Link developed by MCL Land and designed by Architects 61. Completed in 2018, the development comprises six 16-storey blocks arranged around a central waterway on a 99-year lease from 2013 in District 22 (Outside Central Region). MCL Land — a subsidiary of the Hongkong Land Group under Jardine Matheson — has a track record of delivering well-finished suburban developments, and Lakeville sits comfortably within that tradition: solid construction, practical layouts, and a site that makes the most of its lakefront address.

The investment thesis at Lakeville has always been inseparable from the government’s vision for the Jurong Lake District as Singapore’s second Central Business District. When MCL Land launched Lakeville in 2013, the CBD2 masterplan was still largely aspirational. A decade on, the narrative has gained tangible momentum — Jurong Lake Gardens is now a 90-hectare national garden, the Jurong Region Line is under construction, and J’Den launched at $2,475 psf in 2023 — effectively re-pricing the entire precinct at a premium that validates the transformation story.

Lakeville’s five-year price trajectory tells its own story: $1,542 to $1,784 psf from years one through four, with a modest softening to $1,756 in year five. That slight decline deserves context rather than alarm — it coincides with a broader cooling in the OCR segment and increased new-launch competition from SORA ($2,211 psf) and The LakeGarden Residences ($2,156 psf). At an average of $1,770 psf and $1.57 million in absolute quantum, Lakeville remains meaningfully below all new-launch neighbours, offering buyers an established product with proven rental demand (1,181 transactions, 3.59% yield) at a substantial discount to replacement cost.

Location & Connectivity

The location equation at Lakeville is anchored by two elements: Lakeside MRT proximity and Jurong Lake frontage. Lakeside MRT (East-West Line) is 530 metres from the development — a 6-to-7-minute walk that is sheltered for part of the route. From Lakeside, Raffles Place is a direct 35-minute ride, Jurong East interchange is one stop away (3 minutes), and Buona Vista (for one-north) is 20 minutes without transfers. Chinese Garden MRT sits 900 metres in the opposite direction, giving residents a second station option during service disruptions.

Daily conveniences are well-served. The cluster of malls at Jurong East — JEM, Westgate, and IMM — is accessible within two MRT stops or a short drive. For immediate needs, the ground-floor commercial units at Lakeville itself provide basic retail, and several coffee shops and hawker options exist along Jurong West Street and Boon Lay Way. Giant Express is nearby for grocery runs. The Canadian International School sits directly adjacent to the development, which drives a meaningful share of Lakeville’s expatriate rental demand.

The school catchment is practical for families. Rulang Primary School is 580 metres away — a popular government primary school with a strong reputation. Hillgrove Secondary (390m) and Jurong Primary (760m) round out the nearby options. For tertiary education, Nanyang Technological University is a short bus ride down Jurong West Street, and the National University of Singapore is accessible via the EWL.

Schools & Education

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

Facilities

Lakeville’s facilities lean into the lakefront setting, with a central waterway weaving through the development that connects a sequence of swimming pools, recreational decks, and landscaped gardens. The highlight is the 50-metre lap pool — generously proportioned for a 696-unit development and oriented to capture lake views. Flanking it are a spa pool, children’s splash pool, and a series of cascading water features that MCL Land brands as the “Starlight Drop Pool” and “Spa Coves” — marketing names aside, the water play areas are well-designed and popular with younger families.

“One of the best looking condos — plenty of parking space and friendly staff. The pool area and lake views are really the highlight.”

— Resident review via Yelp

The gym is well-equipped with an aqua gym option, which is a relatively uncommon offering at this price point. A tennis court, outdoor fitness stations, and a foot massage walkway add to the recreational mix. The clubhouse and function rooms are available for private bookings, and BBQ pits are distributed across the grounds. The Orion Playland — a dedicated children’s playground — is positioned away from the pool areas, a thoughtful design choice that reduces noise conflicts between families with young children and residents seeking poolside quiet.

The landscaping throughout the development is mature at eight years post-TOP, with substantial tree canopy providing shade across common walkways. MCL Land’s emphasis on the waterway as a design spine gives Lakeville a visual coherence that many larger suburban developments lack. The honest limitation is that the facilities, while comprehensive, are not lavish — there are no sky terraces, rooftop lounges, or elevated amenity decks. Residents who have experienced the sky-level facilities at newer developments like SORA or J’Den may find Lakeville’s ground-level-centric approach less aspirational. For most practical purposes, however, the facilities serve the development’s 696 households competently.

Unit Sizes & Layout

Lakeville offers an unusually broad unit mix spanning 50 distinct floor plans across nine configurations: 1-bedroom (560–592 sqft), 2-bedroom (635–872 sqft), 3-bedroom (872–1,324 sqft), 4-bedroom (1,270–1,464 sqft), 4-bedroom dual key (1,475–1,668 sqft), 5-bedroom (1,528–1,862 sqft), and penthouses in 4-bedroom (1,981–2,056 sqft), 4-bedroom plus study (2,228–2,271 sqft), and 5-bedroom (2,680 sqft) variants. The distribution leans toward 2- and 3-bedroom units (535 of 696 total), reflecting a bet on both the rental market and young families — a strategy validated by the 1,181 rental transactions recorded since TOP.

Interior finishes are consistent with MCL Land’s established standards. Kitchen appliances are by Fisher & Paykel and Electrolux — reliable mid-to-upper-tier brands. Bathroom fittings are by Grohe, with Hansgrohe shower systems and Johnson Suisse wares. The quality holds up well at eight years post-TOP, though buyers of resale units should expect to refresh bathrooms and kitchen countertops if purchasing from original owners who have not renovated.

The 4-bedroom dual-key configuration (1,475–1,668 sqft) is worth particular attention from investor-buyers. With Canadian International School next door and strong expatriate family demand in the Jurong precinct, dual-key units allow owners to occupy the main unit while renting the studio portion — or rent both segments independently. Only 16 such units exist in the development, making them relatively scarce on the resale market. The 3-bedroom units at 872–1,324 sqft offer the best balance of liveable space and rental appeal, with the larger variants providing genuine family-sized accommodation that can command rents of $4,000–$5,000 per month.

Pricing & Market Position

Across 176 recorded transactions (all-time), sale prices range from $765,000 to $3,100,000, averaging $1,590,188.

Over the last 12 months, transactions averaged $1,803 psf.

Rents range from $2,000 to $13,500 per month across 1,243 rental transactions. Current rental yield sits at approximately 3.5%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at LAKEVILLE 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 23.4% (from $1,478 to $1,824 psf).

Neighbourhood Comparison

The competitive landscape in the Jurong Lake District has intensified dramatically since Lakeville’s completion, with three new launches reshaping price expectations across the precinct.

J Gateway ($1,894 psf) is the most direct resale comparator — also by MCL Land, also completed in the mid-2010s, but located at Jurong East MRT interchange rather than Lakeside. J Gateway’s transport connectivity is superior (dual-line interchange with the upcoming Jurong Region Line), and its retail adjacency to JEM, Westgate, and IMM is unmatched. However, J Gateway trades the lakefront setting for an urban-core character, and its smaller site and taller towers create a denser living environment. Lakeville offers more generous facilities, lake views, and a lower psf entry point — the $124 psf gap represents roughly $100,000 in absolute savings on a typical 3-bedroom unit.

Among new launches, SORA ($2,211 psf) and The LakeGarden Residences ($2,156 psf) are the lakefront competitors. Both offer fresh 99-year leases, modern designs, and lakeside positioning, but at psf premiums of 22–25% over Lakeville. For buyers who prioritise lease freshness and contemporary finishes, these new launches are compelling — but they come without the proven rental track record that Lakeville has built over 1,181 transactions. J’Den ($2,475 psf) represents the precinct’s price ceiling, positioned directly at Jurong East interchange with a premium that reflects its transport integration.

Westwood Residences ($1,256 psf) offers the budget alternative in the broader Jurong corridor, but it is further from MRT access and lacks both the lake frontage and the immediate proximity to the Jurong Lake District transformation zone. For buyers choosing between Lakeville and Westwood, the $514 psf premium buys significantly better MRT connectivity, lake views, and exposure to the CBD2 upside story. Lakeville occupies a sensible middle ground in this landscape: cheaper than everything new, better-located than everything cheaper, and backed by a rental history that no competitor can currently match.

Lease Decay Analysis

The 99-year lease runs from 2013, meaning approximately 13 years have already been consumed. Roughly 86 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 ~76 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates LAKEVILLE across multiple dimensions.

What Residents Say

“One of the best looking condos — plenty of parking space and friendly staff. Good rental potential as it is right next to Canadian International School.”

— Resident review via Yelp

“Everything seem OK — except for the security management. They really need to better equip the security personnel with updated skills.”

— Resident review via EdgeProp

“Nice vibe and the lake views are great. Quite a number of tenants here though, so it feels more like a rental block than an owner-occupier community.”

— Resident review via 99.co

The resident feedback pattern at Lakeville divides clearly between the tangible positives and the operational frictions. On the positive side, the lake views draw consistent praise — residents describe the panoramic Jurong Lake outlook as the development’s single best feature, particularly from higher-floor units at sunset. The pool facilities and landscaping are well-regarded, and the abundance of parking (a rarity in newer, smaller developments) is appreciated by car-owning households. The proximity to Canadian International School is frequently cited as a rental advantage, with several reviewers noting strong expatriate tenant demand.

The negative feedback clusters around two themes. Security management is the most commonly cited concern — multiple residents mention that guard house procedures feel inconsistent, with delivery access and visitor handling generating friction. The second recurring observation is the high proportion of tenants relative to owner-occupiers, which some residents feel diminishes community cohesion and affects how well common areas are maintained. These are not structural deficiencies in the development itself, but lifestyle considerations that prospective owner-occupiers should weigh. For pure investors, the high tenancy rate is simply confirmation that the rental demand thesis is working as intended.

Strengths & Weaknesses

Verdict

Lakeville’s value proposition rests on a simple but compelling equation: an established, well-maintained lakefront development with proven rental demand, priced at a meaningful discount to every new-launch competitor in the Jurong Lake District. At $1,770 psf, it sits below J Gateway ($1,894 psf), SORA ($2,211 psf), The LakeGarden Residences ($2,156 psf), and J’Den ($2,475 psf). Only Westwood Residences ($1,256 psf) sits cheaper, and that development is further from MRT access and lacks the lake frontage.

The 3.59% gross rental yield, underpinned by 1,181 rental transactions, is one of the stronger yield profiles in the OCR. An average rent of $4,312 per month reflects sustained demand driven by the adjacent Canadian International School, NTU proximity, and the general growth of the Jurong employment corridor. For investors, Lakeville offers that rare combination of yield and transformation upside — you collect meaningful income while waiting for the CBD2 masterplan to further lift capital values. The rental track record, with nearly 1,200 transactions since TOP, provides a level of market validation that no new launch can yet match.

The weaknesses require honest reckoning. The slight PSF dip in year five ($1,784 to $1,756) signals that Lakeville is not immune to the broader OCR headwinds and the competitive pressure from newer launches. The walkability score of 50/100 reflects the suburban reality — while MRT access is adequate at 530 metres, the immediate surroundings lack the density of retail and dining that characterises more urban locations. The en-bloc score of 17/100 is negligible, as the 99-year lease and 696-unit size make collective sale mathematically impractical. And the 86-year remaining lease, while ample for the next two decades, means buyers on a 30-year horizon should factor in the eventual CPF and loan restrictions that tighten around the 60-year mark.