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The Lakeshore in Jurong West: Perfect for Families with School-age Children

Ohmyhome

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The Lakeshore is an 848-unit condominium located in the West side of Singapore. You might have heard about the booming changes on this side of the island, but do you know how it would benefit you as a homeowner?

There are more residential developments planned, as well as a slew of innovative high-tech industrial areas in Jurong West and Boon Lay, which makes The Lakeshore an attractive place to live, for both locals and expatriates.

3 Reasons Why Lakeshore is Suitable for Your Growing Family:

1. Location and Accessibility

The Lakeshore Condominium is located in Jurong West, it is a short drive to Boon Lay Shopping Centre and Taman Jurong Shopping Centre. Wonder why West is the best? There are six shopping malls in the West, specifically in the Jurong East area which is two MRT stations away from the Lakeside MRT.

You can easily access the Northern side of Singapore through the North-South Line from Jurong East Station. Get around Singapore through the Circle Line via Buona Vista MRT station which is only five stops away,

Medical facilities are within easy access in Jurong West with the 700-bed Ng Teng Fong General Hospital and a 400-bed Jurong Community Hospital in the Jurong district. Exciting new projects are in the pipeline including the construction of the Kuala Lumpur-Singapore High-Speed Rail (HSR).

2. Stable Rental Price and Gross Rental Yield

Should you decide to rent out your property in The Lakeshore, the rental yield does not disappoint. In 2018 and 2019, the The Lakeshore’s monthly rental price for a two-bedroom unit (900-1000 sqft) remained stable:
January to December 2018 – up to $3,300
January to December 2019 – up to $3,300

You can check other rental rates for nearby two-bedroom properties using Ohmyhome.

Renting out a unit in The Lakeshore for $3,300 per month which gives you a 3.2% gross rental yield. Though this is slightly lower than Singapore’s market average of 3.3% rental yield, but year on year, condo rents in Singapore’s Outside Central Region (OCR) where The Lakeshore is located has increased by 2.9%.

Calculating for The Lakeshore’s Gross Rental Yield

How did we get 3.2%? (Gross rental income for 12 months/ purchase price of the property) x 100= gross rental yield.

A two-bedroom unit in this project measuring 1,109 sqft can fetch a selling price of S$1,250,000.

Gross Rental Income of $3,300 x 12 months= $39,600/purchase price at $1,250,000= 0.032*100= 3.2%

3. Perks for Own Stay for Families with Children

If you are planning to purchase a unit at The Lakeshore for your own stay, several schools are less than 500m from the property:

  • Yuhua Secondary School
  • Shuqun Primary School
  • Fuhua Secondary School
  • Rulang Primary School

There are also a lot of schools less than 1km away:

  • Lakeside Primary School
  • Hong Kah Secondary School
  • Hua Yi Secondary School
  • Hong Kah Secondary School
  • Jurongville Secondary School

Plans for a makeover of the Chinese Garden (one train station away) and Japanese Garden (less than 2km away) are also on the way. The 40-year old gardens will receive an upgrade with new community spaces, tropical and aquatic gardens, as well as food and beverage outlets.

The massive expansion plans for Jurong West area provides employment opportunities and will help increase the value of your property. The developments in transportation are also expected to enhance the flow of talent and travellers. There’s no doubt that all these make Jurong West an attractive hub for regional businesses to benefit the residents, thus, making it an attractive location to buy, work and play for your growing family.

The Lakeshore Project Details

Developer Far East Organization
TOP 2008
Average Price S$1,061 psf
Lease type 99-year leasehold
Location District 22

Buying your dream home at The Lakeshore?

Best Mortgage Rate Across All Banks for The Lakeshore

Talk to our mortgage brokers with over 30 years of experience and get the lowest mortgage rate at 1.78% for The Lakeshore. Our home loan specialists will assist you with everything you need to know from Total Debt Servicing Ratio (TDSR), Loan to Value (LTV) Limits and Legal Conveyancing.

Buyer’s Stamp Duty for The Lakeshore

Buyer’s Stamp Duty (BSD) is tax paid on documents signed when you buy or acquire property located in Singapore.

If you plan to buy a two-bedroom unit at The Lakeshore for your family’s own stay, the price is at S$1,250,000 which is reflective of the market value, your BSD is $34,600.

Market Value of the Property BSD Rate Calculation
On the first $180k 1% $1,800
On the second $180k 2% $3,600
Next $640,000 3% $19,200
Remaining $250,000 4% $10,000
BSD Payable $34,600

Source: IRAS

Looking at another unit size? Use Ohmyhome’s in-app BSD calculator for instant calculation! Download Ohmyhome from the Play Store or App Store now!

Additional Buyer’s Stamp Duty for The Lakeshore

Liable property buyers in Singapore are required to pay Additional Buyer’s Stamp Duty (ABSD) on top of the existing BSD. ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).

Who is liable to pay ABSD:

  1. Singapore Citizen (SC) buying second, third and subsequent residential property
  2. Singapore Permanent Resident (SPR) buying first, second and subsequent residential property
  3. Foreigners or entities buying any residential property

ABSD for Singapore Citizens when Buying The Lakeshore

Here’s the ABSD amount you are required to pay if you are an SC:

Property Ownership ABSD Rate ABSD Amount from Price $1,250,000
If The Lakeshore is your second residential property 12% $150,000
If The Lakeshore is your third or subsequent residential property 15% $187,500

ABSD for Singapore Permanent Resident when Buying The Lakeshore

Here’s the ABSD amount you are required to pay if you are an SPR:

Property Ownership ABSD Rate ABSD Amount from Price $1,250,000
If The Lakeshore is your first property 5% $62,500
If The Lakeshore is your second or subsequent residential property 15% $187,500

ABSD for Foreigners when Buying The Lakeshore

Here’s the ABSD amount you are required to pay if you are a foreigner:

Property Ownership ABSD Rate ABSD Amount from Price $1,250,000
Foreigners buying any property 20% $250,000

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Our real estate consultants will provide you insights about this new project and assist you with everything you need to know from BSD, ABSD, exercising the OTP to sealing the deal.

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