185 views
Photo from GuocoLand

Healthy takeup of Lentor Modern reflects resilience of the mass market: expert

Lentor Modern sold 84% of its units.

Lentor Modern’s impressive sale launch proved the resilience of mass market private residential segment and that there is an underlying demand for well-located projects from Singaporeans, property expert PropNex Realty said.

The property, the first and only integrated mixed-use development to be built in the new Lentor Hills estate, sold 508 units or 84% of its total during its weekend launch on 16 and 17 September.

Lentor Modern also sold all 63 one-bedroom units and 231 two-bedroom units during the launch, as well as 182 units, or more than 73% of the 248 three-bedroom units.

Prices of sold units at Lentor Modern during the launch ranged from $1,856 per square foot (“psf”) to $2,538 psf. 

Meanwhile, Singaporeans constituted around 92% of the buyers.

“We think the strong buying interest in Lentor Modern has also got to do with the project’s strategic location as a future community focal point within the upcoming Lentor Hills estate. It is the only integrated development in the Lentor Hills estate - that will be connected to the Lentor MRT station and will comprise a retail mall,” PropNex commented.

“This is the main draw as it offers a lot of convenience to future residents, with direct access to amenities and a straight train ride down to the city via the Thomson-East Coast Line when it is fully operational,” the expert added.

Following Lentor Modern’s successful sale, PropNex expects more housing to be added to the new Lentor Hills estate, with nearby Lentor Hills Residences and several other residential sites in the pipeline.

The expert also anticipated that Lentor Modern will set the benchmark for the subsequent projects to be launched in this area.
 
“We think many buyers deem the prices at Lentor Modern to be acceptable for an integrated development in a fairly central part of Singapore,” the expert said.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

SIT, DNV ink 3-year partnership on maritime decarbonization and digitalization
The parties will cooperate in three key areas.   The Singapore Institute of Technology (SIT) has joined hands with a maritime advisor, DNV, to advance net-zero ambitions in the Lion City’s maritime sector.

Exclusives

Where to invest your millions in real estate
Amongst locations, realtors suggest the Core Central Region.   Individuals seeking shelter in the real estate market amidst the rising inflation must consider three things before deciding where to invest their millions in.   George Tan, managing director of Savills Digital Residential Marketing, said one of these factors is location.    Tan said buyers should consider areas which are highly demanded and well located—easy access to prestigious or international schools, MRT, malls and food and beverage (F&B) establishments. All these will contribute to good rental demand.   PropNex realtor, Andy Lim, echoed this, adding that buyers should particularly invest in properties within one kilometre of the prestigious schools.