New Launch Condo - Lentor Hills Residences is on sale for 50% on launch weekend with an average price of $2,080 psf

New Launch Condo - Lentor Hills Residences is on sale for 50% on launch weekend

New launch condo – Last weekend, July 8-9, the Lentor Hills Residences apartment complex of 598 units recorded sales of 298 units (about 50%). Hong Leong Holdings is a joint developer of Lentor Hills Residences, along with listed property developer GuocoLand and TID (a joint venture between Hong Leong and Mitsui Fudosan).

According to Hong Leong, prices start at $1,834 psf, with an average price of $2,080 psf. One-bedroom apartments from $945,000, two-bed apartments from $1.36 million. Three-bed models cost up to $1.82 million, while four-bed models start at $2.53 million. Dual-lock units start at $2.64 million.

The median price achieved at Lentor Hills Residences is in line with the median price achieved at the 605-unit Lentor Modern integrated development launched by GuocoLand last September. Lentor Modern was 90% sold for an average price of $2,102 psf.

Showflat Previewing of Lentor Hills Residences sales gallery (Photo: Hong Leong Holdings)

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Showflat Previewing of Lentor Hills Residences sales gallery (Photo: Hong Leong Holdings)

“The 50% usage rate at the end of the first week of launch is a commendable performance,” said Ismail Gafoor, CEO of PropNex. "The price of Lentor Hills Residences - comparable to that of the Lentor Modern - provided buyers with a value proposition."

Gafoor claims that Lentor Hills Residences benefited from the spillover demand from the launch of Lentor Modern last year. "Those who missed out on the smaller apartments at Lentor Modern have the opportunity to purchase one- and two-bedroom units at Lentor Hills Residences," he added.

Of the 35 one-bedroom New launches ranging in size from 452 to 538 square feet at Lentor Hills Residences, more than 94% had been purchased over the weekend, according to real estate agents. And nearly 70% of the 39 one-bedroom apartments ranging in size from 570 to 638 square feet were purchased.

The consumption rate of two-bedroom (108 units) and two-bedroom plus study rooms (111 units) is 73% and 65.8%, respectively. Two-bedroom apartments range from 678 to 721 square feet, and two-bedroom plus study units range from 743 to 775 square feet.

The larger units are combinations of three and four beds. Over the weekend, more than 40% of the 88 three-bedroom apartments (958 to 980 sq ft) were sold. Of the 101 three-bedroom plus yard apartments (1,098 to 1,130 square feet), nearly 27% have been offered for sale. About 14% of the 100 4-bedroom units (1,349 to 1,399 square feet) were purchased, and about 38% of the 16 2-key units ranging from 1,302 to 1,399 square feet were purchased.

Mark Yip, Managing Director of Huttons Asia said: “The larger apartments are mainly sold to people looking to move from older developments in the vicinity. He added that dual-key apartments are very popular among multi-generational families and investors because they are rarely offered for sale in recent project launches.

Lentor Hills Residences is located on a 99-year, 184,461-square-foot lease in the upcoming Lentor Hills site, a growth area positioned as a sustainable and pedestrian-friendly neighborhood with new parks and smooth walking and biking paths. Lentor Hills Residences is also close to nature trails at Lower Peirce Reservoir, Bishan-Ang Mo Kio Park, Windsor Nature Park and Thomson Nature Park.

The New property has a covered walkway opposite Lentor MTR station and is expected to be completed by December 2026. Betsy Chng, head of sales and marketing at Hong Leong Holdings, said: We get good feedback thanks to our convenient location. "Our buyers enjoy the surrounding nature parks with the metro nearby, yet stay close to their families living in the neighboring mature towns of Upper Thomson, Ang Mo Kio, Bishan and Yishun."

According to Chng, the functional layout of the units and the facilities provided is also an attraction.

Marcus Chu, Managing Director of ERA Singapore, said: “Most of the apartments found in Lentor Modern and Lentor Hills Residences are priced in the $2.5 million range. "It's a hot spot for suburban homebuyers."

Chu adds: “The location near popular primary schools, such as CHIJ St Nicholas Girls School and Anderson Elementary School, is another attraction for families with young children.

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