{"id":58911,"date":"2022-09-07T11:18:38","date_gmt":"2022-09-07T03:18:38","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=58911"},"modified":"2022-09-19T11:18:09","modified_gmt":"2022-09-19T03:18:09","slug":"lentor-modern-launch-sell-out","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/lentor-modern-launch-sell-out\/","title":{"rendered":"Will Lentor Modern sell out on day 1?"},"content":{"rendered":"
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19 September 2022 Update:<\/strong> Lentor Modern has sold 84% of its units (508 out of 605) during its launch weekend on 16 and 17 September 2022. Prices of units sold ranged from S$1,856 psf to S$2,538 psf. All 63 1-bedroom units and 231 2-bedroom units have been fully sold. More than 73% of its 3-bedroom units and more than 50% of its 4-bedroom units have also been snapped up.<\/p>\n

According to GuocoLand, 92% of total buyers were Singaporeans, while the remaining 8% were foreigners and PRs. Buyers were mainly owner-occupiers, and a bulk of them were upgraders.<\/p>\n

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GuocoLand\u2019s <\/span>Lentor Modern<\/span><\/a> opened for previews on 2 Sep 2022. As it\u2019s the first and only integrated development in the Lentor neighbourhood, the project has gained a lot of traction over the past few weeks.<\/span><\/p>\n

In July this year, <\/span>AMO Residence<\/span><\/a>, a new launch condo located in Ang Mo Kio, made headlines for selling 98% of its units on launch day. Only seven units were left unsold.\u00a0<\/span><\/p>\n

Not only that, it also set a new price benchmark for OCR new launches<\/a>, ranging from S$1,890 to S$2,406 psf based on URA\u2019s data. The average prices were S$2,113 psf.\u00a0<\/span><\/p>\n

As Lentor Modern<\/a> is located close to AMO Residence, will it be the next development to sell out?<\/span><\/p>\n

What makes a project successful?<\/h2>\n

Besides AMO Residence, recent developments in 2022 like <\/span>Piccadilly Grand<\/span><\/a> and <\/span>LIV@MB<\/span><\/a> also fared well. In Q4 of 2021, <\/span>Canninghill Piers<\/span><\/a> and <\/span>The Commodore<\/span><\/a> also performed well. What makes a project successful?<\/span><\/p>\n

1. AMO Residence<\/a> – sold over 98% on launch day, average price – S$2,113 psf (District 20, OCR)<\/h3>\n