Parc Oasis

Overview & Key Facts

Parc Oasis is a 950-unit condominium by Marcobilt (Marco Polo Developments), situated along Jurong East Avenue 1 in District 22 (Outside Central Region). Completed in 1995 on a 99-year lease from 1991, the development is now 31 years old with approximately 64 years remaining on its lease — a figure that should stop every prospective buyer in their tracks. This is one of the largest private residential estates in the Jurong East precinct, a sprawling garden development that sits in the shadow of the ongoing Jurong Lake District (JLD) transformation and within a 4-minute walk of Chinese Garden MRT station.

The numbers tell a story of a development with genuine rental strength but growing capital headwinds. With 145 recorded sales at an average price of $1,398,567 (median $1,420,000) and a trailing 12-month PSF of $1,244, Parc Oasis sits at a steep discount to the wave of new launches transforming the Jurong East landscape. The rental performance is the development’s strongest card: 1,007 rental transactions at a median rent of $4,100 produce a gross yield of 3.46% — solid for the OCR, and backed by one of the deepest rental track records in District 22. The PSF trajectory reveals the tension: prices climbed from $1,015 in 2020 to $1,245 in 2024, riding the broad market rally, but the most recent reading of $1,228 shows early signs of softening. The ShiokNest score of 47/100 and profit score of 58/100 reflect the mathematical reality — income generation is real, but the capital appreciation runway is truncated by a lease that is about to breach the most consequential financing threshold in Singapore property.

Location & Connectivity

Parc Oasis occupies a unique position in Singapore’s residential landscape: a sprawling 1990s estate sitting at the doorstep of what is being planned as Singapore’s largest commercial hub outside the CBD. The Jurong Lake District (JLD) masterplan envisions a 360-hectare precinct anchored by the future Jurong East Integrated Transport Hub, new commercial towers, a tourism zone, and lakeside recreational facilities. For Parc Oasis residents, this transformation plays out literally in their backyard — the development sits at the western edge of the JLD boundary, with Chinese Garden and Jurong Lake Gardens providing the green buffer between the residential estate and the emerging commercial district.

The standout locational feature is Chinese Garden MRT (EW25) at just 0.25 km — a genuine 3–4 minute walk from the estate entrance. This is excellent MRT access by any measure. The East-West Line connects to Jurong East interchange (one stop, 2 minutes), where transfers to the North-South Line open up routes to Orchard (approximately 25 minutes) and Raffles Place (approximately 35 minutes). Jurong East MRT (NS1/EW24) at 1.44 km serves as both the NSL/EWL interchange and the future terminus of the Jurong Region Line (JRL), which will further enhance connectivity across the western corridor when completed. For drivers, the Ayer Rajah Expressway (AYE) is accessible within 5 minutes, providing a 20–25 minute drive to the CBD off-peak.

Schools within proximity include CHIJ Our Lady of the Nativity (0.38 km), Fuhua Primary (0.47 km), and Rulang Primary (0.50 km) — all within the 1-km MOE Phase 2C priority zone. Having three primary schools within 500 metres is an exceptional advantage for families with school-age children. Daily amenities are well served: IMM Building (Singapore’s largest outlet mall), JEM, and Westgate at Jurong East are one MRT stop away, providing comprehensive retail, dining, and supermarket access. Closer to home, Taman Jurong Market & Food Centre and the Jurong East neighbourhood shops meet everyday needs.

Schools & Education

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

Facilities

Parc Oasis’ facilities are a product of their era: a 31-year-old, 950-unit estate built during the early 1990s when condominium design prioritised land coverage, communal green space, and basic recreational amenities over the curated lifestyle experiences that define modern developments. What the estate lacks in contemporary polish, it compensates for with something that 2020s condominiums cannot offer — sheer scale. At 950 units spread across a generous site, Parc Oasis has a spaciousness and breathing room that makes modern 500-unit-on-a-postage-stamp developments feel claustrophobic by comparison.

The development features a swimming pool, a children’s wading pool, tennis courts, a gymnasium, barbecue pits, a children’s playground, function rooms, and covered car parking. The grounds are the real amenity: three decades of mature tropical landscaping have produced towering rain trees, dense hedge borders, and established garden beds that create genuine shade and visual privacy between blocks. The estate operates with 24-hour security and gated access control. The MCST manages a development of this age and scale with the expected challenges — periodic waterproofing works, lift upgrading, facade maintenance, and the ongoing battle to keep ageing infrastructure functional.

“The estate feels like a park. Huge mature trees everywhere, birds singing in the morning, and you can actually take a proper walk around the grounds without doing circles. The pool is basic but well maintained. The gym needs updating — some equipment is from another era. But honestly, I chose this place for the space and the greenery, not for a fancy gym. At $1,200 psf, I’m not expecting the facilities of a $2,400 psf new launch.”

— Owner-occupier, since 2018 (PropertyGuru)

The honest assessment: the facilities are adequate for daily living but dated. There is no infinity pool, no sky terrace, no co-working space, no smart home system, no concierge service. The gym equipment is functional but ageing. The tennis courts show wear. Comparing Parc Oasis’ facilities to J’Den or Lakegarden Residences is an exercise in generational contrast — and the PSF gap ($1,244 vs $2,156–$2,475) reflects exactly this difference. For residents who value mature greenery, generous communal space, and a kampung-like estate atmosphere over sleek amenity decks, Parc Oasis delivers. For those who want modern luxury, the facilities will feel like a compromise too far.

Unit Sizes & Layout

Parc Oasis is a showcase of 1990s-era generosity in unit sizing. Built before the era of efficiency-driven compact layouts, the development’s 950 units feature the spacious proportions that defined pre-2000 condominium design: genuinely large living-dining areas, bedrooms that accommodate king-sized beds with room to spare, enclosed kitchens with proper ventilation and cooking space, dedicated utility areas, and service yards that modern developments have quietly eliminated. For anyone accustomed to the 600–700 sq ft “three-bedroom” units of 2020s new launches, stepping into a Parc Oasis three-bedroom is a revelation in what private residential space used to mean.

The unit mix spans 2-bedroom to 4-bedroom configurations, with 3-bedroom units forming the bulk of the stock and the most active resale segment. At the current median price of $1,420,000, a 3-bedroom unit at Parc Oasis delivers a quantum that, while not cheap in absolute terms, buys significantly more space than the same dollar spent at any new launch in District 22. The 4-bedroom and larger units offer family-sized living at quanta that are virtually unmatched in the Jurong East precinct. For investors, the rental sweet spot sits with the 3-bedroom units: at $4,100 median rent, these units attract families and professionals working in the Jurong East commercial hub, international business park, and the emerging JLD offices.

Interior finishes in most units are original or partially renovated by previous owners. Expect parquet or marble flooring typical of the era, dated bathroom fixtures, and kitchen cabinetry that has served its time. Buyers should budget $40,000–$70,000 for a comprehensive renovation of a 3-bedroom unit — flooring, bathrooms, kitchen, and painting. The critical consideration here is whether the renovation investment is justified given the 64-year remaining lease. A $60,000 renovation on a unit that may face severe resale constraints in 10–15 years requires careful cost-benefit analysis. For owner-occupiers planning a 5–8 year stay, the renovation cost amortised over use is acceptable. For investors, functional renovations focused on tenant appeal rather than premium finishes are the rational approach.

Pricing & Market Position

Across 154 recorded transactions (all-time), sale prices range from $828,888 to $1,983,000, averaging $1,399,631.

Over the last 12 months, transactions averaged $1,230 psf.

Rents range from $1,500 to $6,800 per month across 1,063 rental transactions. Current rental yield sits at approximately 3.6%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at PARC OASIS 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 29.1% (from $947 to $1,223 psf).

Neighbourhood Comparison

Parc Oasis ($1,244 psf, 99-year from 1991, 64 years remaining) trades at a massive discount to every new launch in the Jurong East–Jurong Lake District precinct — and the lease explains the entirety of the gap. The most direct new-launch comparison is J’Den ($2,475 psf, 99-year from 2023), the CapitaLand development at Jurong East MRT interchange. J’Den commands a staggering 99% PSF premium over Parc Oasis, reflecting a full fresh lease, brand-new finishes, integrated transport hub access, and the full JLD transformation upside priced in from day one. The comparison illustrates the lease discount in its starkest form: the same district, the same transformation narrative, but 35 fewer years of lease translates to half the PSF.

Lakegarden Residences ($2,156 psf, 99-year from 2023) offers the closest locational parallel — it sits along Yuan Ching Road overlooking Jurong Lake, directly benefiting from the Jurong Lake Gardens and JLD masterplan. At a 73% premium over Parc Oasis, Lakegarden Residences buyers pay for a full lease, lakefront positioning, modern facilities, and certainty that CPF and loan access will remain unconstrained for decades. SORA ($2,211 psf, 99-year from 2023) in the Jurong Lake District rounds out the new-launch trio at a 78% premium — similar positioning with fresh lease and modern specifications.

The most instructive resale comparison is J Gateway ($1,894 psf, 99-year from 2013), the 738-unit development directly above Jurong East MRT. J Gateway commands a 52% premium with approximately 86 years of lease remaining — 22 more years than Parc Oasis. Crucially, J Gateway sits comfortably above every CPF and financing threshold for the next 25+ years, while Parc Oasis breaches the 60-year mark in just 4 years. This 22-year lease difference translates to dramatically different financing accessibility and resale liquidity for the next generation of buyers. Within the older resale segment, Parc Oasis competes against other ageing estates in the Jurong corridor. Its advantages are clear: Chinese Garden MRT at 250 metres (better than most competitors), three primary schools within 500 metres, the JLD transformation narrative, and the unique proximity to Chinese Garden and Jurong Lake Gardens. The disadvantage is singular and decisive: the lease. At 64 years remaining and the 60-year threshold just 4 years away, Parc Oasis is the most time-pressured major condo in District 22. Buyers who understand the arithmetic and act within the narrowing window can extract value from the rental yield and the JLD-adjacent location. Buyers who delay or plan long holds face an asset whose resale pool contracts with each passing year.

Lease Decay Analysis

The 99-year lease runs from 1991, meaning approximately 35 years have already been consumed. Roughly 64 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 ~54 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates PARC OASIS across multiple dimensions.

What Residents Say

“We moved here in 2016 for the Chinese Garden MRT proximity — my wife works at Jurong East and it’s literally one stop. The estate is massive and feels like living in a park. Our 3-bedder is bigger than our friend’s 4-bedroom at a new condo. The lease is the big worry now. We’ve attended two en-bloc presentations but with 950 owners, getting everyone to agree is like herding cats. Our plan is to sell by 2029 at the latest — we don’t want to be holding when the 60-year mark hits and financing gets messy.”

— Owner-occupier, three-bedroom, since 2016 (PropertyGuru, 2025)

“I rent a 3-bedroom here for $4,200. For the space I get, it’s incredible value compared to what $4,200 buys you in a new condo near an MRT. The walk to Chinese Garden station is 3 minutes flat. Japanese Garden is right across the road — my wife jogs there every morning. The estate is old, no question, but the trees and landscaping make it charming. If I were buying, the lease would scare me off. But as a tenant? This is one of the best deals in the west.”

— Tenant, three-bedroom, since 2023 (SingaporeExpats)

“Bought in 2019 at about $1,050 psf as a rental investment. Currently getting $3,900 from a family — the wife works at NTU and the kids go to Fuhua Primary. Yield has been around 3.3–3.5% which is decent. The PSF has gone up since I bought, which was a bonus I didn’t expect given the lease. But I’m very conscious that the music stops soon. My agent says once we cross into sub-60-year territory, banks start getting really conservative on valuations. I’m listing for sale in late 2027 — that gives me 8 years of rental income and hopefully an exit before the crunch.”

— Investor-owner, three-bedroom, since 2019 (EdgeProp, 2025)

“I’ve been an owner here since 2005. Twenty-one years. This estate was beautiful when it was new and it’s still beautiful — the mature trees, the lake views from some blocks, the space. My kids grew up running around the gardens. The facilities are showing their age, sure, but the MCST keeps things clean and functional. What worries me is the en-bloc. We had serious talks in 2018 and it went nowhere. 950 units is just too many owners to align. Some want to sell, some want to hold, some can’t agree on the price. I love living here, but financially I know I should have sold 5 years ago when the lease was at 69 years. Every year I wait, the exit gets harder. The JLD transformation gives me some hope that a developer will see the value in this site, but hope isn’t a strategy.”

— Long-term owner-occupier, four-bedroom, since 2005 (PropertyGuru, 2024)

Strengths & Weaknesses

Verdict

Parc Oasis is a development where the headline story writes itself in a single number: 64 years of lease remaining, with the 60-year threshold arriving in approximately 4 years. This is the most imminent lease cliff among the major condominiums in District 22, and it colours every aspect of the investment calculus. The development has genuine strengths — excellent MRT access at 250 metres to Chinese Garden station, proven rental demand across 1,007 transactions, three primary schools within 500 metres, and the Jurong Lake District transformation unfolding next door. But none of these strengths can outrun the arithmetic of a 99-year lease that is two-thirds spent.

For rental investors with a strict 3–5 year exit horizon, there is a narrow but legitimate case. The 3.46% gross yield on a median price of $1,420,000 is serviceable, and the rental demand is deep — 1,007 transactions prove that tenants want to live here. Chinese Garden MRT at 250 metres, proximity to the JLD commercial zone, and three schools within 500 metres sustain tenant interest. If you can acquire below the median, collect 3–5 years of rental income, and exit before the 60-year mark in 2030, the total return can work. The margin for error is thin: hold even 2–3 years past the threshold and the resale pool contracts meaningfully.

For owner-occupiers, Parc Oasis makes sense only if you value the lifestyle — massive vintage units, garden estate living, Chinese Garden and Jurong Lake Gardens at your doorstep, excellent MRT access — and you accept that this is consumption, not investment. If your children need CHIJ Our Lady of the Nativity or Fuhua Primary for the next 6 years, and you plan to move on to a longer-lease property afterwards, the living experience here is genuinely good. The units are spacious, the greenery is beautiful, and the location is becoming more connected each year. But do not buy expecting to sell at a profit in 2032 or beyond.

For en-bloc hopefuls, the score of 50/100 reflects a genuine tension. On one hand, the 950-unit count on a large site in the path of JLD transformation makes this an attractive redevelopment target — developers need large sites for the high-density projects the JLD masterplan envisions. On the other hand, 950 units require an enormous consensus effort (80% by share value), and the declining lease reduces the residual land value that a developer would pay. The en-bloc thesis is not irrational here — this is one of the few estates where location genuinely supports redevelopment demand — but it is far from certain, and buying solely on this basis is a gamble, not an investment strategy.

For anyone planning a hold beyond 8–10 years, Parc Oasis is the wrong asset. The lease decay accelerates from here. The financing constraints that begin in 2030 will suppress demand and pricing in ways that no amount of JLD transformation can fully offset. The competing new launches — J’Den, Lakegarden Residences, SORA — all carry fresh 99-year leases and will absorb the upgrader and investor demand that ageing estates like Parc Oasis progressively lose access to.