During the launch weekend of Lentor Hills Residences, a joint development by Hong Leong Holdings, Guocoland and TID, an impressive 298 out of 598 units were sold, accounting for half of the available units. This reflects the strong demand in Singapore’s property market. The average price achieved for these units was S$2,080 per square foot (psf).
The unit sizes varied, ranging from 452 sq ft to 1,399 sq ft, catering to the diverse needs and preferences of homebuyers. Prices for the apartments started at S$945k for the smaller units and went up to S$2.53 million for the larger ones.
The launch weekend of Lentor Hills Residences saw half of the units being sold, demonstrating the high demand for properties in the Lentor Hills estate. Buyers were quick to secure the key units, attracted by the development concept and competitive prices.
Located in the new Lentor neighbourhood, just a few minutes’ walk from the Lentor MRT station, this project has attracted many buyers. Despite cautious sentiments due to high interest rates and a muted economic outlook, the developer’s integrated development concept and competitive prices have generated high interest.
The larger unit types, such as three and four-bedroom units, were particularly popular among buyers. Mark Yip, CEO of Huttons, commented on the strong response, highlighting the impressive sales considering cautious sentiments caused by high interest rates and a muted economic outlook.
This indicates a resilient underlying demand for new private homes, especially smaller bedroom units that are highly sought after by investors. 50% of the project’s 598 units were quickly sold, demonstrating the market’s confidence in this development.