Lentor Hills Residences Review: 3 Reasons Why This Is The Ideal Home Of The North
The reports on AMO Residence selling off 98% of all its units on its launch day has drawn a lot of attention to the new condominium in the same district, Lentor Hills Residences. I was surprised by the transactions at AMO Residence and did some research on Lentor Hills Residences, only to find that this new condo at Lentor has the potential of an even better return, due to the following 3 reasons:
Low risk: First mover advantage
In the near term, there are 3 other plots of private residential land in Lentor area that are earmarked for development, of which 2 are already sold. With a shortage of land for new housing, developers of these 2 new sites have bidded a higher per square feet per plot ratio (psf ppr) than Lentor Hills Residences. The Lentor Central plot was won at $1108 psf ppr and the Lentor Hills Parcel B was won at $1130 psf ppr. The Lentor Hills Residences site costs $1060 psf ppr. With this reference, owners who own Lentor Hills Residences can benchmark their exit price on 3 staggered higher rates when these new sites start selling one after the other. The higher prices of these new condos will also form the new floor price for first owners at Lentor Hills Residences. This reduces possibility of loss for buyers who purchase a unit at the initial launch.
High reward: Rapid development of region with shopping mall, MRT station, and other amenities.
Lentor Hills is fast developing into a modern new town in Singapore. With the new shopping mall coming up above the Lentor MRT station, families staying in Lentor Hills Residences can easily get their daily necessities and routine done. Buyers who value convenience will appreciate units in this condominium.
URA Masterplan Around Lentor Hills Residences. Source: URA.gov.sg
Completion Of The Thomson-East Coast Line
With all stations along the Thomson-East Coast Line anticipated to be ready by 2024, the faster commute from Lentor Hills to Shenton Way and Orchard will become a key reason for working professionals in the Central Business District to reside in this condo. They can go from their hectic work place to their quiet and tranquil home within 30 minutes. Furthermore, they can easily take a weekend vacation in Johor Bahru by riding the Line to Woodlands and crossing the border.
With these 3 key factors supporting the demand and price floor for Lentor Hills Residences, I will recommend this development for investors looking for a steady capital appreciation stemming from the gradual development of the entire area. The fact that the government is changing Lentor Hills into the next new town confirms my expectations that the influx of families will support Lentor Hills Residences condo prices and rents in the middle to long term.
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