A spokesperson from Hong Leong Holdings also confirmed their plans to develop an estimated 600-unit residential development. They hope that the surrounding amenities, coupled with Lentor MRT station being just a 6-minute walk away will add to the development’s appeal. About one-third of the units at The Myst are priced at a sweet spot of S$1.5 million and below, making it a desirable option for homebuyers and investors. Inspired by lentor residence price in the nearby Bukit Timah Nature Reserve, 75% of the development’s footprint is dedicated to landscaping and communal facilities.
F&B and amenities around the site are located along Tanjong Katong Road and Parkway Parade shopping mall is close to the site. Nevertheless, with Lentor Modern likely to set a new benchmark in OCR, potential homebuyers and property investors may assess the pricing of competing developments coming up nearby. But, as mentioned earlier, those looking for a sharp correction in property prices will likely be disappointed. With Woodlands set to become Singapore’s largest regional centre in the not-too-distant future, it will provide a good catchment of tenants.
For instance, in the 268-unit Sceneca Residence, 161 units were sold at an average price of $2,082 psf, with 72.7% of the sales attributed to the smaller one- and two-bedroom units. Located close to the Ang Mo Kio skyline, Lentor Hills Residences is a new launch condo with an enviable address. The site area of 184, 460 sq ft means that it will have 595 residential units and can accommodate up-to 1000 residents! Although the latest release of new land parcels under the GLS could temper the rise in land prices, potential property investors and homebuyers should be cognizant of the low inventory of unsold units in the market currently. Moreover, there will be fewer supply of new housing units compared to last year. These factors, plus developers looking to replenish their depleting land banks, would likely keep land prices firm.
The development comprises 381 luxury units with stunning views and state-of-the-art facilities, including a tennis court, 50-meter lap pool, and spa pavilions. Leedon Residence won several awards, including the Best Condo Development Award at the South East Asia Property Awards in 2014. GuocoLand Group is a well-established property developer that has built an impressive track record in the development of residential properties. The company has completed numerous projects in Singapore, Malaysia, China, and Vietnam, with a focus on delivering high-quality homes that meet the needs of its clients.
It is located close to Lentor Modern, another project also developed by GuocoLand. The prices are competitive compared to other luxury developments in the area, making it a great option for first-time buyers or those looking to downsize. The combined land area of these 3 sites amounts to over 490,000 square feet and it is expected to yield over 1,200 units in the future. If we were to include the land parcels that have already been awarded, it adds up to an estimated total count of 2,470 units. A quick search on the URA space webpage revealed that the future project on the site is expected to be called Lentor Modern.
Level 14 Sky Terrace – Each of the three residential tower blocks will have access to the sky terrace. As they are located high up and away from the communal landscape deck, these sky terraces will offer small alcoves and corners that will provide residents personal spaces for solo or group working. At the same time, they will offer relaxing views of the surrounding nature reserves. Heong Leong Holdings has an impressive track record in the development of residential properties. The company has completed numerous residential projects in Singapore, Malaysia, and China, with a focus on providing high-quality homes that meet the diverse needs of its customers.
With a land rate of $1,204 psf ppr, Lentor Modern condo is expected to set a new benchmark in District 26 with an expected average launch price of $2,2xx psf. But at the same time, the land parcel (known as Lentor Hills Parcel A for now) just opposite it was sold at a lower $1,060 psf ppr, which would translate to an expected launch price around $2,xxx psf. This could pose competition to Lentor Modern, and despite it being a purely residential development, it is a short walk from the MRT station.