Lentor Modern Pricing
Background Price
The Lentor Central site’s GLS (Government Land Sale) tender was fiercely competed. On July 21, 2021, it was awarded to nine bidders. Maybe because this is one of the most appealing properties to hit the market, developers’ remaining inventory of unsold units.
“The reaction observed in this tender shows developers’ considerable optimism in the suburban home sector, which has been exhibiting indicators of pent-up demand amid dwindling supply and lack of fresh launches in the OCR,” according to one industry specialist.
186,000 square feet (sq ft) make up the facility. The permissible build up is roughly 651,000 square feet gross floor area, based on a plot ratio of 3.5. Commercial space accounts for roughly 86,110 square feet.
Just 4.5% higher than the second highest bid, GuocoLand submitted the highest offer of SGD$784,113,000. The total cost of the proposal is $1,204 PSF PPR (per square foot per plot ratio), which translates to a land cost.
The break-even point is roughly $1,900 PSF when all of the regulatory, financing, development, and overhead expenditures are considered. However, construction material and labor costs have risen dramatically in recent years, meaning that skilled employees can now cost three times what they used to.
Lentor Modern Neaby price list
| NEARBY NEWER CONDO AROUND LENTOR MODERN AT DISTRICT 20 | HIGHEST TRANSACTED SELLING PRICE (PSF) FOR PAST 12 MONTHS | COMPLETION |
|---|---|---|
| LATTICE ONE | $1,946 | Under Construction |
| ADANA @ THOMSON | $1,840 | 2018 |
| THE PANORAMA | $1,715 | 2017 |
Lentor Modern indicative price
| PSF$ | |
| A) Land Cost | $1,204 |
| B) Construction Cost (estimate) | $350 |
| C) Profit Margin + Other Expenses (30% x [A+B] ) | $466 |
| Estimate Launch Price (SUBJECTED TO CHANGES) (FOR EDUCATION PURPOSES, NOT FINAL SELLING PRICE) | $2,020 |
*Price subject to change anytime.
Price range (indicative)
S$1M – S$1.49M
Sale psf range (indicative)
S$1,900 – S$2,200psf.