Lentor Modern unit prices to start from $1,880 psf; analysts expect high demand
Lentor Modern unit prices to start from $1,880 psf; analysts expect high demand. Developer GuocoLand announced on Wednesday that apartments at Lentor Modern, a 605-unit integrated mixed-use complex in Ang Mo Kio, start at $1,880 per square foot (psf). On Friday, the display gallery will be available for previewing.
The Thomson-East Coast Line’s Lentor MRT station is linked with the 99-year leasehold construction, which consists of one- to four-bedroom flats with sizes ranging from 527 square feet to 1,528 square feet. One-bedroom apartments begin at $1.088 million, while four-bedroom apartments begin at $2.918 million. Each of them accounts for 10% of the available units. Two-bedroom apartments start at $1.388 million, while three-bedroom apartments start at $1.878 million.
Following the success of AMO Residence, where 98 percent of the units were sold during its introduction in July, real estate analysts anticipate strong demand for the development. A two-bedroom unit in the 372-unit construction started at $1.26 million, with a median price of $2,110 per square foot. Lee Sze Teck, senior director of research for Huttons Asia, suggested that Lentor Modern would experience a ripple effect from AMO Residence. He said that Lentor Modern would be of interest to more than 1,000 disgruntled buyers who were unable to purchase a property there.
According to Mr. Lee, the development is the first project to be undertaken in the Lentor area in more than ten years, and given the unmet demand, it should generate significant interest. With an entry price of just over $1 million, “Lentor Modern is offering customers a very appealing entry price to invest into an integrated mixed-use property,” he said. According to OrangeTee & Tie Senior Vice-President of Research and Analytics Christine Sun, Housing Board upgraders who reside in the vicinity and investors may also spur demand for the property. As there are many three- and four-bedroom units available and many purchasers are currently looking to purchase large-sized homes, she said that this project would appeal to families.
Overlooking a mall with more than 96,000 square feet of food, beverage, and retail space, a 12,000 square foot supermarket, and a daycare center, Lentor Modern is made up of three 25-story residential buildings. “One of GuocoLand’s main competencies is to reshape neighborhoods with our mixed-use buildings, exemplified through Guoco Tower at Tanjong Pagar and the future Guoco Midtown on Beach Road,” stated GuocoLand CEO Cheng Hsing Yao. Our goal is to make the Lentor neighborhood into a classy and alluring residential and lifestyle destination through Lentor Modern.
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