HSR termination could slow increase in Jurong property prices, but longer-term prospects intact: experts

THE lack of a major catalyst like the Kuala Lumpur-Singapore High Speed Rail (HSR) project which was terminated on Friday may help slow the increase in property prices in the Jurong area, but experts are choosing to focus on the broader plans to decentralise the central business district (CBD) and longer-term outlook for the area.

Back in May 2015, Jurong Country Club's (JCC) land was gazetted for acquisition for the site to be developed into the Singapore terminus of the HSR link. In January 2017, the government announced that Raffles Country Club will also make way for the HSR project, as well as a depot and stable for the Cross Island MRT line.

Savills Singapore executive director Alan Cheong told The Business Times that prices of commercial and residential properties in the Jurong district will continue to move upwards in the long run, but at a slower pace now.