Given the increase in supply within such close proximity of each other, housing developers would likely be more cautious during the land tenders. With potentially lower land prices and hence, lower launch prices, these upcoming developments could pose more competition to Lentor Modern. This is especially so when all the four developments are located 350m or less from the Lentor MRT station. This can only benefit homebuyers who have witnessed escalating land prices in the last two years. lentor hill residence -listed company said it had already sold 508 units of the 605-unit Lentor Modern, a mixed-use development in the Lentor Hills estate, about 16 kilometers north of the Raffles Place central business district.
The integrated mixed-use project opened for previews on Friday, September , with prices starting at $1,880 psf. There will also be plenty of space set aside for industrial and manufacturing companies at Woodlands North Coast and Woodlands Central. The development is part of URA’s plans to decentralise the Central Business District, by creating one closer to residents within the northern region of Singapore.
With Guocoland’s participation, we can expect the developer to play a pivotal role in leading the charge in bringing vibrancy and dynamism to the area. All of these developments will overlook Woodlands Waterfront, complete with scenic trails for residents and office workers alike to unwind with a stroll or cycle along heritage trails after a long day of work. Parents will be delighted to know that there is no shortage of established schools within the region. Located within a 1km radius of the residential area is Anderson Primary School. Primary 1 and 2 students here gain broad exposure to sports, performing arts and outdoor education as they explore their strengths, talents and interests under the Ministry of Education’s Programme for Active Learning. The star studded property developer team will no doubt have big plans to develop this land in conjunction with amenities and facilities that will be sprouting up over the next decade.
Over the next years, Woodlands Regional Centre will have new spaces for industry, research and development, learning and innovation. According to the government, the development of Woodlands Regional Centre alone is expected to generate an estimated 100,000 jobs. The other interesting places include the Senoko Food Hub and Senoko Fishery Port. At the former, visitors can find an array of cooked and frozen food, vegetables, food seasoning and beverages among many others. At Senoko fishery Port, visitors can choose from a dizzying selection of fishes and seafood at wholesale prices. However, what sets the North Region apart from the rest of Singapore is the concentration of factory outlets that sell a variety of food items at wholesale prices.
Some schools that are closely located include Anderson Primary School, Ang Mo Kio Primary School, CHIJ St. Nicholas Girl’s School and Mayflower Primary School. For instance, the site of the future condominiums is ideally populated with a number of schools in the area. There are a number of schools and educational institutions within the 1km to 2km radius of the site.
Residents also enjoy sheltered, direct access to the extensive range of amenities at the supermarket and retail mall at the integrated Lentor Modern next door. The second GLS site that was launched is a 99-year leasehold site at Lentor Hills Road. The site is close to the new Lentor MRT station on the Thomson-East Coast Line.
Hence, Lentor Modern’s pricing from $2,2xx psf is something potential property investors or buyers will have to come to terms with. Once these unsold stocks have been depleted, the price of new property launches in the future will see a paradigm shift higher, as with the case of Lentor Modern. This can be attributed to the significant rise in land prices and sharp increases in construction cost due to logistical disruption from the covid-19 pandemic and Russia-Ukraine war, which have worsened inflationary pressures globally. Nevertheless, Lentor Modern is a mixed-use development consisting of a childcare centre, supermarket and commercial establishments at first storey, whilst the others are pure residential developments. Moreover, two other new land parcels – Lentor Hills Road (Parcel B) and Lentor Central – will likely be put up for tender this year and they can yield about 735 residential units combined. In addition, the Lentor Gardens site, which can yield about 530 units, has just been transferred to the “confirmed” list.
“Buying demand is expected to remain healthy in the upcoming quarters, supported by the projected economic recovery and improvement in the labour market, as well as the surge in HDB upgraders,” Wong said. Two residential sites under the Confirmed List of the 2H2021 Government Land Sales (GLS) programme have been launched for sale. One site is Lentor Hills Road (Parcel A) and the other site is at Jalan Tembusu. A site under the Reserve List, Lentor Hills Road (Parcel B) is also open for application.