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. Apartments at Lentor Modern, a 605-unit integrated mixed-use development in Ang Mo Kio, started at $1,880 per square foot on Wednesday, according to developer GuocoLand (psf). The showcase gallery will be accessible for preview on Friday.
The 99-year leasehold building, which consists of one- to four-bedroom flats with sizes ranging from 527 square feet to 1,528 square feet, is connected to the Lentor MRT station on the Thomson-East Coast Line. Apartments with one bedroom start at $1.088 million, while those with four bedrooms start at $2.918 million. 10% of the total number of units are made up of each of them. Apartments with two bedrooms begin at $1.388 million, while those with three bedrooms begin at $1.878 million.
Real estate specialists predict high demand for the development, following the success of AMO Residence, where 98 percent of the units were sold during its introduction in July. In the 372-unit building, a two-bedroom flat had a starting price of $1.26 million and a median cost of $2,110 per square foot. Senior director of research for Huttons Asia, Lee Sze Teck, hypothesized that AMO Residence would have an impact on Lentor Modern. Over 1,000 disappointed customers who were unable to acquire a property there, he claimed, would be interested in Lentor Modern.
Given the unmet need, Mr. Lee claims that the development will attract a lot of attention because it is the first project to be completed in the Lentor area in more than ten years. “Lentor Modern is offering clients a very compelling entrance price to buy into an integrated mixed-use building,” he said. The entry price is little over $1 million. Housing Board upgraders who live nearby and investors may also boost demand for the property, claims OrangeTee & Tie Senior Vice-President of Research and Analytics Christine Sun. She claimed that this project will be appealing to families because there are many three- and four-bedroom flats available and many buyers are currently eager to buy large-sized homes.
Lentor Modern is made up of three 25-story residential towers that face out over a mall with more than 96,000 square feet of food, beverage, and retail space, a 12,000 square foot supermarket, and a daycare facility. According to GuocoLand CEO Cheng Hsing Yao, “one of GuocoLand’s major skills is to alter neighborhoods with our mixed-use projects, highlighted through Guoco Tower at Tanjong Pagar and the upcoming Guoco Midtown on Beach Road.” Through Lentor Modern, we hope to transform the Lentor area into a chic and enticing residential and lifestyle destination.
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