The relative lack of amenities in the area should not deter investors and home buyers from laying their bids. On the contrary, this means that Lentor Hills has a high growth potential ceiling. As one of the neighbourhoods being targeted by URA for development and integration, residents can look forward to fresh amenities over the next 10 to 15 years. Moreover, these land parcels are all within a short walking distance to the Lentor MRT.
It will be a future interchange with the Cross-Island Line (CRL) that will stretch from Changi Airport to Gul Circle. The 4-bedrooms come with a junior master-bedroom with its own attached bathroom, offering added convenience for extended families. It will also be ideal for those looking to rent out their spare room while enjoying a little more privacy.
Hence, a development like Lentor Modern could provide first-mover advantage and promising investment potential. 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. The commercial podium 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.
Sites under the Reserve List are not immediately released for tender but are made available for application instead. A reserve List site will be put up for tender when a developer has indicated a minimum price that is accepted by the government. “Given lentor residence price dwindling residential supply in the area, this site would be hotly contested by developers,” says Mak. Two residential sites under the Confirmed List of the 2H2021 Government Land Sales (GLS) programme have been launched for sale. A site under the Reserve List, Lentor Hills Road (Parcel B) is also open for application. Compared to District 26 (Upper Thomson/Springleaf), it has remained a rather “sleepy” housing estate and the Thomson-East Coast Line (TEL), which comprises of five stages, only started construction in 2014.
Some examples of its clientele include administrative offices, clinics, and others. That being said, there are quite a few downsides to being a landlord, such as rent control, repairs, and assessing candidates before renting the home. In this situation, Bernadette Murphy of Equithy recommends a similar asset class, referred to as real estate investment trusts. According to a recent survey by Edgeprop, many property buyers are willing to pay more for connectivity and conveniences, such as near an MRT station, supermarket and food choices. This is unsurprising amid the high prices of Certificate of Entitlement (COE) for cars which have exceeded $100,000.
My blog – Sg Home Investment – offers essential property reviews, research and guides to help buyers make an informed investment decision. Please feel free to WhatsApp Me if you have any queries about the real estate market in Singapore. Nevertheless, with Lentor Modern likely to set a new benchmark in OCR, potential homebuyers and property investors may assess the pricing of competing developments coming up nearby. But, as mentioned earlier, those looking for a sharp correction in property prices will likely be disappointed.