This clearly illustrates that developments near or are integrated with MRT stations, like Lentor Modern, potentially offer a higher rate of capital appreciation. This can be seen from the recent land tenders for the Dunman Road and Pine Grove (Parcel A) sites that were sold at $1,350 psf ppr and $1,318 psf ppr respectively. Located in the Rest of Central Region (RCR), such land rates would translate to an average lauch price around $2,4xx psf. At such land rates, they are likely to be launched upward of $1,8xx psf minimally, which would become the new normal.
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. With a land rate of $1,204 psf ppr, Lentor Modern condo is expected to set a new benchmark in District 26 with an expected average launch price of $2,2xx psf.
It has also developed a sizeable portfolio of properties spanning across the major cities of Beijing, Shanghai, Nanjing and Tianjin. As can be seen, buyers have come to accept prices above $2,000 psf for Outside Central Region (OCR) projects. The development will consist of three 25-storey blocks with 605 residential units of 1- to 4-bedrooms. lentor hill residence will have 96,000 sq ft of businesses, F&B and retail spaces, including a supermarket and more than 10,000 sq ft childcare facilities. Moreover, these land parcels are all within a short walking distance to the Lentor MRT.
Properties near popular schools are highly sought after by both investors and parents. In order to secure a place in these schools, some parents have even resorted to renting or paying top dollar for properties located near them. When the TEL is fully operational, it will offer residents direct access to places such as Orchard Road, Great World City, Shenton Way, Gardens by the Bay, Tanjong Katong, and all the way to Changi Airport. Four stops from Lentor Modern is the Caldecott MRT station, an interchange with the Circle Line. And one further stop away is Stevens Station on the Downtown Line which traverses the entire Bukit Timah Road where many sought-after schools are located (more on this later).
Typically Mix Use Development will command higher growth compared to the non integrated development due to the proximity to the amenities which appeal to the homeowners as well as investors. Lentor Modern will be the landmark of Lentor Hills Estate, with three 25-story residential towers facing the landed estate and the upcoming Hillock Park. Sg Home Investment offers unbiased property reviews, guides and market research to enable buyers make informed decisions.
Although these post-launched developments may be attractive alternatives, the inventory of unsold units is extremely low. As can be seen, buyers are not resistant to paying a premium for integrated developments. Selected buildings with historical value will be re-purposed for suitable uses to help rejuvenate the precinct. This will further enhance living standards and the desirability of setting up a home in the North Region. The Singapore terminus will be located at Woodlands North and adjacent to the Thomson-East Coast Line (TEL) station. On the Malaysian side, its terminus will be at Bukit Chagar near JB Sentral, a popular shopping destination for many Singaporeans.
Water Venture (Sembawang) – It provides a range of outdoor activities such as kayaking, sea-rafting, nature exploration, camping and outdoor cooking. Sembawang Hot Spring Park – A unique landmark in Canberra, it was opened in early 2020. The geothermally heated water comes out from underground at 70 degrees Celsius and it is believed to have curative and medicinal qualities. For Lentor Modern, there are two popular schools within a 1km radius – CHIJ St Nicholas Girls’ School and Anderson Primary School. It will be a future interchange with the Cross-Island Line (CRL) that will stretch from Changi Airport to Gul Circle. One station from Woodlands is Woodlands North, which will be integrated with the Rail Transit System (RTS) that provides a direct link between Singapore and Johor.
Make a choice from a selection of 1 to 5-bedroom units or penthouses, featuring well-designed interiors and considerate layouts. Experience the finest home appliances and fittings, including a touch of luxury to your daily routine. Lentor Hill Residences enjoys great connectivity to major expressways, such as SLE, CTE, and TPE, ensuring seamless access to Orchard, the Central Business District, and other important areas in Singapore. Lentor Hills Residences will come equipped with an impressive array of facilities and amenities, designed to enhance your quality of life. From state-of-the-art fitness centers and swimming pools, to elegant clubhouses and private function rooms, Lentor Hills Residences has everything residents will need.
Given the many exciting developments in the North Region, it can only bode well for those looking for property investment, especially when many of them are still at their nascent stages. At the same time, accompanying facilities and amenities will be constructed to support and improve the quality of life. Their proximity will potentially attract housing demand from expatriates with school-going children working in the North Region. These include the Gems World Academy, Sir Manasseh Meyer International School and Singapore American School.
Nine Residences is a 186-unit development about 12 minutes’ walk from the Yishun MRT station, whereas North Park Residences is 920-unit development next to the Yishun MRT station and bus interchange. Lentor Modern is about 20 minutes’ drive from the Sembawang Shipyard, which will have its operations moved to Tuas by 2024. These business hubs are envisaged to attract industrialists and enterprises, especially those with business connections to Malaysia. 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.