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Developer GuocoLand said on Wednesday that prices for units in Lentor Modern, a 605-unit integrated mixed-use Condo in Lentor Central, start at $1,880 per square foot (psf).
The preview opening for the showflat is set for this coming Friday on 2nd/sept/2022.
More on Lentor Modern
Units in the 99-year leasehold property include anything from 527 square feet to 1,528 square feet of space, and the complex is connected to the Lentor MRT station on the Thomson-East Coast Line.
Unit mix at Lentor Modern has one bedroom and costs $1.088 million, while the most expensive has four bedrooms and costs $2.918 million. About 10% of the available housing units are of this kind.
From $1.388,000 for a two-bedroom to $1.878,000 for a three-bedroom apartment.
After the success of the nearby AMO Residence, where 98% of the units are sold during the preview in July, property experts are optimistic about the demand for this new condo.
With a median price of $2,110 psf, a two-bedroom property in the 372-unit complex was listed for $1.26 million.
High Demand Expected at Lentor Modern
Huttons Asia, Lee Sze Teck, said that Lentor Modern may benefit from AMO Residence’s popularity as homebuyers who failed to get their units at AMO residence will likely head over to purchase their unit at Lentor Modern.
Mr. Lee said that this is the first major construction in the Lentor region in over a decade, so there should be strong interest.
To enter an integrated mixed-use development, “Lentor Modern is providing purchasers a very favorable entry price of little more than $1 million,” he said.
Christine Sun, at OrangeTee & Tie, said that the project’s demand might be fueled by local Housing Board upgraders and investors.
She explains that the huge number of three and four bedroom homes in the development may attract families: “Currently, many purchasers are willing to acquire big-sized units.”
Since it will be the first integrated building in the region, investors may be interested, and renters may find the apartments appealing because of their proximity to the MRT station and the ease with which they can reach the Central Business District.
Cushman & Wakefield’s head of research, Mr. Wong Xian Yang, has pointed out that the demand for Lentor Modern may be fueled in part by the scarcity of integrated mixed-use complexes in Singapore.
He went on to say that because to Lentor Modern’s “attractive locational qualities and land pricing,” it has the potential to become the new median price for new 99-year leasehold non-landed developments in Ang Mo Kio and the broader suburban market.
Transformation at Lentor Central
Three 25-story residential buildings make up Lentor Modern, which is situated atop a mall with over 96,000 square feet of dining and retail space, as well as supermarket and childcare center.
“One of GuocoLand’s main skills is to alter neighborhoods with our mixed-use initiatives,” said Cheng Hsing Yao, CEO of GuocoLand, citing the company’s Guoco Tower in Tanjong Pagar and the forthcoming Guoco Midtown on Beach Road as examples.
Our goal with Lentor Modern is to make the neighborhood at Lentor Central a desirable place to live and work.
