TID sold 50 units, or 18.7%, of Lentoria for an average price $2.120 per sqft.

The developer TID, which is a joint venture of Hong Leong Holdings, Mitsui Fudosan and Mitsui Fudosan sold 50 units (18.7%), of its 267-unit Lentoria, over the weekend of the March 2-3. The average price per square foot of the units sold was $2,120.

TID reports that premium two- and three bedroom units account for more than 40% of sales. This preference is a result of 90% of buyers being owners. Most of these buyers reside in private properties in the north-east region.

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Lentoria, the fourth new residential development to be launched at the upcoming Lentor Hills estate after the launch of the 605 unit Lentor Modern project in September 2022, is the fourth new residential development. Lentor Modern has sold 98% of its units to date. The second launch was a joint-venture by GuocoLand and TID. It consisted of 598 units of Lentor Hills Residences. Since July 2023 the launch, 458 units (77%) have been sold.

Forsea Holdings launched the 474 unit Hillock Green in November last year. To date, 169 (36%) units have been sold.

Lentoria launched on the same weekend as the GuocoLand Lentor Mansion, a 533-unit development. Lentor Mansion is the fifth project to be launched in Lentor Hills.

It is possible that some buyers are taking their time to compare new launches in the area before they make a purchase. We expect that the development, which has fewer than 300 apartments, will not have much trouble selling its inventory.

Lentoria will be completed in 2027. The response to our weekend sales has been gratifying. This reaffirms that quality is the most important thing to buyers.”

Will sales of new launches continue to be subdued in the future? The market is expected to slowly shake off the lethargy, and get back into action after a period of low transactions in recent months.


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