On the launch weekend, half of Lentor Hills Residences sold at an average price of $2,080 per square foot
Hong Leong Holdings, a joint developer, said that on Sunday half of the 598 Lentor Hills Residences units were sold at an average of $2.080 per square foot (psf).
As of Sunday, 5pm, 298 leasehold units were sold. The majority of buyers were Singaporeans. Permanent residents made up the remainder. The units were sold for a price starting at $1,834 per square foot.
All apartment types were “well-received” by home buyers, with the two-bedroom and the two-bedroom-plus-study units being the most popular, said Hong Leong.
The unit sizes range from 452 square feet for a 1-bedroom unit up to 1,399 square feet for a 4-bedroom unit. Prices for one-bedroom units start at $945,000, followed by $1.36 million, then $1.82 for three-bedrooms, and finally $2.53 for four-bedrooms.
Hong Leong said that the dual-key units in the project also saw “healthy uptake”. Dual-key units range in size from 1,302 to 1,399 square feet and start at $2.64 million.
Lentor Hills Residences, jointly developed by Hong Leong GuocoLand TID is the second project in the new Lentor Hills Estate to be launched, following the Launch of Mixed-Use Integrated Development Lentor Modern, in September 2022.
Lentor Hills Residences occupies a land area of approximately 184,461 square feet. The five towers range from 8 to 23 stories, and all units have carparks.
Lentor Hills Residences is located in a neighbourhood that’s growing and close to the centre of Singapore. This attracted many buyers. The new Lentor MRT Station on the Thomson-East Coast Line is only a 5-minute walk from the project.
At launch, more than 70% of the units were two-bedroom or one-bedroom.
Lentor Hills Residences sales show that cooling measures have not dampened investment demand by local property investors.
The strong take-up rate is a reflection of the strong demand for private homes from home owners and the fact that the market still has plenty of liquidity.