Kenny's Take
Lucerne Grand's confirmed per-bedroom PSF ladder — 2BR at $2,401 psf, 3BR at the cheapest $2,251 psf, 4BR Premium at $2,420 psf — is the number that actually tells you what CDL is doing: pricing the 44%-of-project 3BR band to move, not chasing headline quantum on the smaller units. With land locked in at $1,132 psf ppr, the cheapest in the current launch pipeline, and roughly $400 psf of room against the district's $2,275 psf new-sale median, CDL has margin to keep this competitive all the way to the 3 October sales launch. PropNex's 10–20% MRT-premium estimate over less-connected Jurong stock is a concrete number worth using with any upgrader client questioning why this prices ahead of older OCR resale. Separately, 362 Holland Road's award to a co-living operator on a leasehold — not an outright sale — is a small but useful signal for landlord clients holding ageing small sites near MRT nodes: conversion, not disposal, is where appetite is right now. Rates barely moved, but SORA's 1-month/3-month gap compressing to under 5 basis points is worth a one-line mention to anyone comparing floating packages.
🏗️ Lucerne Grand's PSF Ladder: 3BR Prices Cheapest Per Square Foot
- CDL's 570-unit Lucerne Grand, previewing since 18 September beside Lakeside MRT, now has its full per-bedroom PSF breakdown confirmed: 2BR from 624 sq ft at $1.498 million ($2,401 psf), 3BR from 883 sq ft at $1.988 million ($2,251 psf) — the lowest PSF in the entire stack — and 4BR Premium from 1,152 sq ft at $2.788 million ($2,420 psf).
- It's the first private residential launch in the Lakeside precinct since Lake Grande in July 2016. CDL CEO Sherman Kwek frames the project around Jurong's ongoing transformation into the Jurong Lake District, while ERA's Marcus Chu sees the 10-year supply gap as a chance to capture buyers who've been waiting for newer stock.
- PropNex's Kelvin Fong estimates the direct MRT link could command a 10–20% premium over less-connected Jurong projects — a concrete figure to use with any client questioning the entry price against older OCR resale comps. Sales launch is confirmed for 3 October.
🏢 362 Holland Road Awarded For Co-Living Conversion
- The Singapore Land Authority awarded the 24,594 sq ft Holland Road site — a five-minute walk to Holland Village MRT — to Trans-Orient Services for conversion into co-living residences, on a three-year master lease with two further three-year renewal options.
- The site last operated as Assemblage, a 37-room student hostel run by Cogent since 2017, and before that housed the Holland Road Maternal & Child Health Centre. Plans include a communal lounge, co-working areas and biophilic design touches.
- It's a small site, but another data point for landlord clients holding ageing small institutional or commercial buildings near MRT nodes: SLA continues to favour flexible leasehold conversion over outright disposal.
💰 SORA's 3-Month Leg Breaks Its Downward Drift
- 3-month compounded SORA rose to 1.2052% (▲0.0068%) — its first increase in several readings — while 1-month SORA fell further to 1.2464% (▼0.0107%), narrowing the 1M/3M gap to under 5 basis points, the tightest reading in this series in months.
- Bank spreads held unchanged; OCBC and Maybank remain tied best-in-market at 1.41% all-in on 3-month SORA packages.
🔭 What I'm watching
- Lucerne Grand's sales launch lands 3 October — the real demand test now that bedroom-by-bedroom pricing is confirmed. Serra Residences' freehold Novena preview remains set for 2–10 October, keeping the first half of next month busy across CCR and OCR alike.