GuocoLand Lentor Mansion reaches 75% sales during its launch.
GuocoLand, the developer, announced on Sunday that approximately 400 units, or about 75 percent, of Lentor Mansion, its latest high end residential development, were sold during its launch weekend between Mar 15 and 16.
Three 16-storey high-rise towers as well as three 8-storey high-rise towers comprise the project, which includes both two-bedrooms and five-bedrooms. GuocoLand, Hong Leong Holdings jointly developed the project. It’s scheduled to be completed by 2027.
Prices for the launch ranged anywhere from S$1.149m (sqft) for a unit with two bedrooms (527 sqft) to S$3.512m (sqft) for a 1507 sqft five-bedder.
GuocoLand revealed that the two-bedroom layout was most popular, with all of its 214 units selling out. Over the two days, around 84 percent (199 out of 198) units with three bedrooms had been sold. Four-bedroom and five-bedroom apartments were each sold by 16 per cent.
Huttons Data Analytics found that 75% of the units were sold for less than S$2 million. Huttons Asia CEO Mark Yip called this the ideal price point for HDB upgraders and first-time home buyers.
Lentor Mansion launches under new guidelines of the Urban Redevelopment Authority. This means that units are sold according to the space available for living.
Lentor Mansion’s internal layouts may be less efficient, but they are more functional.
Price per square foot ranged from S$2,104psf up to S$2,478psf for the units sold at Lentor Mansion.
Lentor Mansion was a home to 99 per cent Singaporeans. They were primarily owner-occupiers. GuocoLand stated that there was a balance between singles and families.
It also said that the unique concept of mansion-style living, inspired by Singapore’s black-and white bungalows, was attracting buyers.
Lentor Mansion has the highest number of sold units in 2024. It is the 2nd best-selling property in the Lentor area after Lentor Modern. Lentor Modern sold 84 percent of its 605 units within the first 24 hours.
Lentor Mansion’s take-up is the highest for a brand new launch since J’den’s November 2023 launch when 88 percent of their units were sold.
The high number of sales shows that buyers appreciate the emphasis placed on placemaking and the growing appeal of the area as a residential enclave.
Some buyers may not have purchased until they had a chance to compare Lentor projects.
Lentor Mansion represents GuocoLand’s fifth new development within the Lentor Hills community.
The Lentor Estate has a number of developers who have kept prices competitive. As a result, homebuyers will find that their purchase is at essentially the same price.
Investors and owners of the property should both take note, because future resale rates in these developments are more likely to be stable.
Lentor Mansion sales were likely boosted by quantum play due to the price-sensitive nature of buyers. Lentor Mansion is a lower-priced project than others in the area, which has drawn more interest.
Read more on the latest new launch near Hillock Park at Lentor Central: Hillock Green
