[New Launch] Lentor Mansion achieves 75% sales at launch; prices from $2,104 psf

Lentor Mansion sold 400 of its 533 units (75%) over its two-day launch weekend on 15–16 March. This included nearly 100 units moved during the VIP launch on Friday, 15 March.

Jointly developed by GuocoLand and Hong Leong Holdings, Lentor Mansion comprises three 16-storey towers and three 8-storey blocks, offering a mix of two- to five-bedroom units.

Prices for units sold ranged from $1.149 million for a 527 sq ft two-bedroom unit to $3.512 million for a 1,507 sq ft five-bedroom unit.

Two-bedroom units were the most popular at launch, with 214 units sold. Of the 199 three-bedroom units, 84% were snapped up. The four- and five-bedroom units saw take-up rates of 16% and 13% respectively.

The launch of Lentor Mansion also marks the first development under URA's new guidelines harmonising strata and gross floor area (GFA), where units are sold based on liveable space, excluding air-con ledges.

Under the new URA guidelines, units at Lentor Mansion transacted at prices ranging from $2,104 psf to $2,478 psf.

Singaporeans and Permanent Residents (PRs) accounted for 99% of buyers at Lentor Mansion. The vast majority were owner-occupiers, comprising singles and young families.

The strong sales can be attributed to the efficient unit layouts and functional flexibility of the liveable spaces, alongside an integrated childcare centre within the development that appealed strongly to young families. The project is slated for completion in 2027.

In terms of unit sales volume, this stands as the best-selling project launch of 2024. It is also the second best-performing launch in the Lentor precinct, behind only Lentor Modern by the same developer, GuocoLand, which sold 84% of its 605 units on its launch day in September 2022. To date, Lentor Modern is over 98% sold.

Following three months of relatively subdued new launch activity, Lentor Mansion's sales performance provides a welcome boost to the market.

Lentor Mansion's robust sales are especially noteworthy considering the substantial volume of new homes already absorbed across the Lentor precinct since Lentor Modern launched in September 2022.

Lentor Mansion is the fifth project launched in the Lentor Hills precinct. The four previously launched developments—Lentor Modern, Lentor Hills Residences, Hillock Green, and Lentoria—have collectively sold over 1,290 units.

Lentor Mansion's debut makes it the best-selling project since J'den in Jurong East, which sold 323 of its 368 units (88%) on its launch day last November.

With buyers generally more price-sensitive in today's market, one of the key catalysts behind Lentor Mansion's stellar performance was its palatable price point.

Lentor Mansion's entry prices were comparatively lower than other projects in Lentor Hills, which likely catalyzed heightened buyer interest.

Two-bedroom units at Lentor Mansion started from $1.149 million, compared to $1.2 million to $1.4 million at other prevailing Lentor launches. Meanwhile, three-bedroom units started from around $1.7 million, compared to starting prices of roughly $1.8 million at neighboring developments.

Although Lentor Mansion achieved an average transacted price exceeding $2,200 psf—higher than the $2,100 psf benchmark across other Lentor projects—the overall price quantum was lower due to the harmonisation of floor area guidelines.

Notably, 75% of the units sold at Lentor Mansion were priced under $2 million. The strong take-up also underscores the developer's strong placemaking capabilities and Lentor's growing appeal as a private residential enclave. Prospective buyers may well have held off committing until they were able to make direct comparisons across all the projects in Lentor.

The Upper Thomson and Springleaf areas in District 26 feature a relatively small private housing enclave of only around 5,800 units, with many existing private developments being older. As such, the new launches across the Lentor Hills estate will play a pivotal role in rejuvenating and transforming the precinct.

Connectivity across Lentor has been dramatically enhanced with the opening of Lentor MRT station on the Thomson-East Coast Line (TEL), providing Lentor Hills residents with seamless access to key destinations islandwide. 

Furthermore, the North-South Corridor, targeted for phased completion from 2029 onwards, will further trim commuting times from the northern region into the city centre.