The latest launch in Singapore’s Lentor Hills estate, Lentor Central Residences, has seen a remarkable sales performance, with 93% of its 477 units sold at an average price of S$2,200 per square foot (psf). This follows the successful launches of Parktown Residence and ELTA in February, indicating a continued robust demand for mass market private homes.
Lentor Central Residences is the sixth project in the Lentor Hills area, and its success adds to the impressive sales record of over 2,700 units transacted since September 2022. The development’s strategic location near Lentor MRT station and the Lentor Modern integrated development, along with competitive pricing, have been key factors in attracting buyers. Notably, all three-bedroom units were fully sold by Saturday night, suggesting many buyers are purchasing for personal residence.
Ismail Gafoor, CEO of PropNex, commented on the development’s appeal, stating, “We think Lentor Central Residences did well owing to its right pricing, convenient location near to the Lentor MRT station and commercial offerings at the Lentor Modern integrated development, as well as the tight unsold stock from existing projects in area.”
The average price of S$2,200 psf is considered competitive for an Outside Central Region (OCR) project, especially when compared to recent launches like Chuan Park at S$2,579 psf. This pricing strategy has positioned Lentor Central Residences as an attractive option for buyers seeking value in a well-located project within the Ang Mo Kio planning area.
With the Lentor area seeing 93% of its new private homes sold, the demand for mass market homes remains strong. This trend could potentially increase interest in the upcoming government land sales tender for a site in Lentor Gardens, set to close on 3 April. As the year progresses, the availability of new OCR projects may be limited, with potential launches in Upper Thomson Road and Canberra Crescent yet to be confirmed.
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