Another day, another record sale.
Earlier this month, a 4-bedroom unit at Lentor Modern was sold for S$3,413,000, setting a record price for condos in District 26 (Mandai, Upper Thomson).
This also means the price is the current all-time high for the new launch condo.
Unit is located on the top floor
There are a few possible factors contributing to the record price.
For starters, Lentor Modern is the first condo launched in the Lentor estate in more than two decades. It’s the first of the seven residential land parcels in the housing estate sold under the government land sales (GLS). For years, the estate has predominantly been a landed housing estate.
Launched in September 2022, Lentor Modern is the only integrated development in the area with a direct connection to Lentor MRT and a mall. The mall is slated to comprise around 50 shops, including a 12,000 sqft supermarket, restaurants and a 10,000 sqft childcare centre.
Meanwhile, the record-setting 4-bedroom unit is among the biggest units in the development, spanning 1,528 sqft. This works out to a price psf of around S$2,234.
More importantly, the unit is located on the top floor, offering its new owners unblocked views of the landed housing estate.
Read our in-depth review of Lentor Modern.
Record sale heralds more to come with Lentor Hills Residences launch
Lentor Modern was first launched with a starting price of S$1,880 psf, with 4-bedroom units starting from S$2.918 million (around S$1,910 psf).
Like other new OCR condos launched last year, the integrated development has seen units sold above the S$2,000 psf mark during its launch. According to 99.co’s Researcher, as of year-to-date, it’s notched an average price psf of S$2,074.
Meanwhile, Lentor Hills Residences, the second condo in Lentor, was launched last week at a starting price of S$1,834 psf. Four-bedroom units were priced from under S$2.54 million (from around S$1,816 psf).
Nevertheless, its launch has seen units sold at an average price above S$2,000 psf. As of writing, it’s recorded an average price of S$2,099 psf.
Read our in-depth review of Lentor Hills Residences.
For the owners of the record-breaking Lentor Modern unit sale, a bigger size unit may be one of their priorities than just price. A 4-bedroom unit at Lentor Modern spans a floor area of 1,528 sqft.
There’s also the mall and Lentor MRT as it’s an integrated development, which may have contributed to the record sale as well.
New launch condos for sale in District 26
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Planning to sell your house to upgrade to a new launch condo? Let us help you get the right price by connecting you with a premier property agent.
If you found this article helpful, 99.co recommends 6 exciting new launch condos to keep an eye on in Q3 of 2023 and Why some new launches will still do well despite the latest cooling measures.
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