A direct MRT link, the first Lakeside launch in a decade, and land bought before the 2026 bidding wars. Lucerne Grand's launch weekend is a useful lesson in what buyers will and won't pay for right now.
City Developments sold 350 of Lucerne Grand's 570 units — about 61% — at an average of S$2,480 psf when sales opened on Sunday, 4 October. About 93% of buyers were Singaporeans, with the remaining 7% permanent residents from countries including Malaysia, China and India.
When I wrote about Lucerne Grand's previews two weeks ago, the open question was whether the first private launch at Lakeside in ten years would find its buyers. The answer came on Sunday, 4 October: 350 units sold by 6pm, about 61% of the 570-unit project, at an average of S$2,480 psf.
That's a solid result. It isn't a sell-out, and the numbers behind it say more than the headline does.
Mogul.sg chief research officer Nicholas Mak pointed out that launch-weekend sales at this year's five mixed-use projects ranged from 56.9% at Newport Residences to 98.8% at Tengah Garden Residences. Lucerne Grand, which has commercial space on the ground floor and a direct link to Lakeside MRT on the East-West Line, lands comfortably inside that band.
| Project | Launch-weekend take-up | Note |
|---|---|---|
| Lucerne Grand (570 units) | 61% | Mixed-use, directly linked to Lakeside MRT (EWL) |
| Newport Residences | 56.9% | Lowest of 2026's five mixed-use launches |
| Tengah Garden Residences | 98.8% | Highest of 2026's five mixed-use launches |
| Amberwood at Holland (212 units) | 11% | About 1.5km, a 20-minute walk, from its nearest MRT |
The Amberwood comparison is the one I'd pay attention to. I covered Amberwood's launch last month. It's a smaller project in a far more prestigious postcode, and it moved 11% of its units. Analysts quoted by The Business Times put Lucerne Grand's stronger take-up partly down to its MRT access. In 2026, buyers are rewarding a covered walk to the platform more than an address.
About 93% of buyers were Singaporeans. CDL said all unit types were well received, with the premium two-, three- and four-bedroom units the most popular. Entry prices were S$1.5 million for a two-bedder, S$2 million for a three-bedder and S$2.8 million for a four-bedder, which PropNex CEO Kelvin Fong described as relatively affordable for what the project offers.
The catchment explains a lot of it. Mak noted that roughly 598,000 people live in the surrounding areas of Jurong East, Jurong West, Clementi and Bukit Batok, and that the last private launch in the Jurong West area was back in 2016. That's a large pool of HDB upgraders and existing owners who have had very little new stock to choose from for a decade. He also counted seven primary schools within 2km of the site.
Realion deputy group CEO Justin Quek said the retail space within the development was a draw. SRI's head of research Mohan Sandrasegeran pointed to the range of schools and educational institutions nearby. PropNex's Fong pointed to the Jurong Lake District, planned to become Singapore's largest business district outside the city centre.
CDL won this site in June 2025 for S$608 million, or S$1,132 psf per plot ratio. At an average selling price of S$2,480 psf, the gap between land cost and selling price is about S$1,348 psf, and that gap has to cover construction, financing, marketing, taxes and the developer's margin.
In my own tracking of recently launched government land sale sites, that gap has more often landed in the S$1,400 to S$1,600 psf range. Lucerne Grand is at the lean end. CDL priced to sell rather than to maximise every dollar, and a land cost secured before this year's bidding wars made that possible. I made this point in the preview piece: cheaper land gives a developer room to move, and here CDL used it.
Compare that with Sin Ming. Eco World paid a record S$1,612 psf ppr for the Lorong Puntong site last month. Apply the same S$1,348 gap and you get roughly S$2,960 psf, which is already close to the S$3,000 psf analysts expect there. A developer on record land can't price keenly the way CDL just did, because the margin isn't there.
Lucerne Grand is the first of a busy final quarter. ERA Singapore CEO Marcus Chu expects about 2,000 new condo units to come from Lucerne Grand, The Serra Residences and Thomson Reserve alone, which is why the private market could pick up in Q4. I looked at whether that momentum would hold in an earlier piece on the Q4 launch test, and Lucerne Grand is a good first answer.
About 220 units remain. Developers commonly release later batches at higher prices after a strong launch weekend, though that's a pattern, not a promise. If you're still deciding, the better stacks and floors usually go first. What's left later tends to be the less obvious choices, so look carefully at facing, noise and distance to the MRT link.
On a building-under-construction purchase you pay in stages as construction progresses, so your monthly commitment climbs over time. The new launch calculator maps your cash, CPF and loan through each stage, and that's a better test of affordability than the psf figure.
Open the new launch calculator →You can also follow live sales progress for Lucerne Grand and every other project on my new launches page, which updates from URA data.
The result confirms that buyers are still there, as long as the product and price make sense together. A direct MRT link, a family-sized unit mix and pricing that didn't try to squeeze the land cost dry were enough to move 350 homes in an afternoon.
If you bought this weekend, the strong take-up helps you. A project that clears most of its units quickly tends to hold its pricing better in the secondary market than one that drags on for years with unsold stock.
If you're an HDB upgrader in the west and missed it, don't panic-buy the remaining units. Work out your numbers first: your sale proceeds, your cash and CPF for the progressive payments, and what you can carry if your flat takes longer to sell. With about 2,000 more units coming to market this quarter, you have choices.
Thinking about Lucerne Grand's remaining units, or weighing it against other Q4 launches? Let's run your numbers first.
WhatsApp Bryan → More guides →Sources: The Business Times, 5 October 2026, "CDL's Lucerne Grand launch moves 61% of 570 units at average S$2,480 psf" by Young Zhan Heng; The Straits Times, 2 October 2026, "HDB Q3 resale prices dip despite lifting of 15-month wait-out period" by Isabelle Liew (Q4 launch pipeline). Land-to-price gap is my own calculation from the published land price and average selling price. See also the Lucerne Grand preview. This article is for informational purposes only and does not constitute financial advice.
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