With the much anticipated AMO residences selling out 98% on their launch day, home buyers are on "standby" looking for the next good buy. The upcoming Lentor Modern would be an even better home for Home Buyers to stay in, and to use this property as a stepping stone to riding on appreciation and a better lifestyle.
Lentor Modern, though not as hyped up, is a huge upcoming INTEGRATED development. Yes, integrated development, which would be directly linked to Lentor MRT (Thomson East Coast Line). The Thomson East Coast Line is right on the track to become the next big MRT line as they would be looking to connect the northern part of Singapore (Woodlands), to East Coast. This upgrade in our infrastructure network is a huge win as they boost convenience all around to everyone taking public transport. Back to the project, we're looking at 3 towers (Think GuocoLand's Township style), with 25 storeys each, bringing us a total of 605 new homes to choose from. On top of that, we would have 96,000 sqft of commercial spaces, ranging from Supermarkets to Childcare Centres and other lifestyle amenities.
Location, Location, Location. Is always the thing that's been thrown around when it comes to new launches. On top of proximity to public transport and MRT stations lies the 2nd factor that brings about not just lifestyle elevation but also an appreciation factor that is much overlooked. The effects of schools on property prices aren't much tackled, as these are more prevalent to homestayers.
Staying within 1km to a good school would mean that your children would be in a better environment and also have better opportunities, thus a better future. This was being mentioned in the news as this phenomenon is not only happening in Singapore. This factor, however, would only come into play IF primary school is amongst the priority of the home buyers.
Taking a project as a case study, we look at Panorama; another project which is within 1km of the famous CHIJ St Nicholas school. Being one of the most sought-after schools in Singapore, we can see that they are doing well above the district average as we speak. Commanding a $280psf above the average asking prices of the district really set Panorama ahead the pack. Soon, Lentor Modern would be competing for the top spot as they are also within 1km of CHIJ as well. Don't forget that Lentor Modern is an integrated development as well.
Lentor Modern have quite afew rooms to appreciate. We are well in the peak of property growth, with one land parcel getting sold higher than the next. The number of bids and the prices only tell about demand and the popularity of the project. We are currently looking at the developer to breakeven at close to 2k psf, taking the rest of the cost into consideration. With a conservative estimate, we can look at Lentor Modern launching from $2200-2300 as a guesstimate.
The future of Lentor Modern also seems great, as there are also neighboring land parcels looking to be released by the government. This not only helps to build the location of "Lentor Township", but also allows the neighboring land parcels to drive up the prices as well. This appreciation would very likely be driven by demand, as the market is still hot for properties; everyone is just on the lookout for the right one.
If you think AMO have enough pent-up demand with being the new launch in 8 years, Lentor Modern is the first new development within the Lentor Region in 14 years! With the area of land parcels at the back, it really confirms the first mover advantage, but also confirms the potential of the Lentor township that our government is being developed over the years.
Overall, Lentor Modern a new launch project well deserved to be considered for home buyers as they tend to fulfil not just the investment side but the lifestyle side in terms of a growing family as well. On top of that, the Lentor area is much posher in terms of status in regards to the whole "address flex" if that is something that homebuyers are looking for. Lentor Modern is going to pack a huge bang as the next blockbuster project, so feel free to reach out if you'll like to be kept in the loop of its update.