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 rents at the 605-unit Lentor Modern integrated mixed-use property in Ang Mo Kio began at $1,880 per square foot (psf). On Friday, you’ll be able to preview the showcase gallery.
The one- to four-bedroom flats in the 99-year leasehold building, which have sizes ranging from 527 square feet to 1,528 square feet, are close to the Lentor MRT station on the Thomson-East Coast Line. One-bedroom apartments start at $1.088 million, while four-bedroom apartments start at $2.918 million. Each one makes up 10% of the total number of 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 experts predict strong demand for the construction. A two-bedroom apartment in the 372-unit building started at $1.26 million and cost $2,110 per square foot on average. Lee Sze Teck, senior director of research for Huttons Asia, predicted that AMO Residence will affect Lentor Modern. He said that more than 1,000 disgruntled clients who were unable to purchase a property there would be interested in Lentor Modern.
Given the unmet demand, Mr. Lee predicts that the development, which will be the first to be finished in the Lentor area in more than 10 years, will garner a lot of attention. As an integrated mixed-use building, “Lentor Modern is offering clients a really enticing entrance price to buy into,” he said. It costs little over $1 million to enter. According to Christine Sun, senior vice president of research and analytics at OrangeTee & Tie, Housing Board upgraders who live close and investors could also increase demand for the property. Because there are so many three- and four-bedroom apartments available and so many purchasers are currently keen to purchase spacious houses, she stated that this project will appeal to families.
Three 25-story residential buildings make up Lentor Modern, which also includes a 12,000 square foot supermarket, a daycare center, and a mall with more than 96,000 square feet of food, beverage, and retail space. One of GuocoLand’s key competencies, according to CEO Cheng Hsing Yao, is to transform communities through our mixed-use developments, which are best shown by Guoco Tower at Tanjong Pagar and the upcoming Guoco Midtown on Beach Road. We want to make the Lentor neighborhood a trendy and alluring place for living through Lentor Modern.
Click the image to read the full details of report.