Lentor GLS

[Oftheseas]

We will see my sense is it will be between $9xx-$1000psf for the upcoming land bid at Lentor.

Developers would definitely be very cautious, think of Penrose site for example, site was launched post CM in 2018, Guoco bid for that site was even lower than the bid they submitted for SUO, their bid was second highest.

I did think of that scenario as my reference, but SUO already sold out when Penrose site was launched.

In this Lentor case, there’s a need to defend. Similar to Sky Vue & Sky Habitat situation.

 

[Passerboy]

I did think of that scenario as my reference, but SUO already sold out when Penrose site was launched.

In this Lentor case, there’s a need to defend. Similar to Sky Vue & Sky Habitat situation.

There are more land parcels at Lentor to be launched in 1H2022, and more empty plots to come, I feel it is unlikely that Guoco would be able to defend all parcels. This is different from the Bishan site where there is only the Sky Vue plot.

 

[CaptainSGP]

There are more land parcels at Lentor to be launched in 1H2022, and more empty plots to come, I feel it is unlikely that Guoco would be able to defend all parcels. This is different from the Bishan site where there is only the Sky Vue plot.

I agree with your analysis. Seems that URA want to develop in a very short span of time all the Lentor plots around Lentor MRT. Who knows for 2H 2022 GLS URA will launch a few more residential plots at Lentor ? Developers will keep this in mind.

 

[CaptainSGP]

Yes, there should be plenty of opportunities for buyers in the north next year of 2023.

Plus the even further North will have Brownstone, Visionaire, Parc Life ECs finish MOP in 2022/2023, in addition to currently MOPed EC SkyPark & One Canberra. Possible Oversupply.

 

[Oftheseas]

There are more land parcels at Lentor to be launched in 1H2022, and more empty plots to come, I feel it is unlikely that Guoco would be able to defend all parcels. This is different from the Bishan site where there is only the Sky Vue plot.

You know Bishan better than me. So back in 2013/14, CapitalLand will not haves known how many plot they have to defend as the other 2 plots of residential site only change in 2019 MP. But they know they must put in a defensive bid on Sky Vue plot.

Likewise, GuocoLand land might not bid those later plots but it’s logical to expect them to have a defensive bid for the Jan 22 plot. Reason is because they did bid too high for the first mix plot, under the current circumstances.

And of course if they think their competitors are not likely to bid more than $950 psf, then a defensive bid of $980 psf is sufficient.

 

[Passerboy]

You know Bishan better than me. So back in 2013/14, CapitalLand will not haves known how many plot they have to defend as the other 2 plots of residential site only change in 2019 MP. But they know they must put in a defensive bid on Sky Vue plot.

Likewise, GuocoLand land might not bid those later plots but it’s logical to expect them to have a defensive bid for the Jan 22 plot. Reason is because they did bid too high for the first mix plot, under the current circumstances.

But the issue is that there are two more plots for Lentor coming up in 1H2022, so there is ample supply or even oversupply.

If Guoco only put a defensive bid for the plot that is closing in Jan2022, it may not be sufficient either, as they need to defend that two plots released in 1H2022.
Unless Lentor is so attractive, I doubt the bids would be too bullish.

 

[NiShiZhu]

Lentor is not one north. Period

 

[Entity]

But I don’t see how GuocoLand will not defend its turf and let the smaller Jan 22 plot slip below $1000 psf.

but at the same time it will make their risk exposure even more concentrated in this area, and also in this new CM the developer ABSD for land increased from 25% to 35%.. liquidity may be a problem also, if go for this they may not be able to try for land in other areas

 

[Passerboy]

Lentor is not one north. Period

Hehe that’s why not easy to sell $2000psf.. I believe closer to $16-17xxpsf aft more land plots are released.

 

[NiShiZhu]

Hehe that’s why not easy to sell $2000psf.. I believe closer to $16-17xxpsf aft more land plots are released.

Thereabout. 17xx-18xxpsf at most. Taking ref from Tenah merah site, 9xxpsf ppr

 

[Passerboy]

Thereabout. 17xx-18xxpsf at most. Taking ref from Tenah merah site, 9xxpsf ppr

I see both sites as similar, but different target audience.

 

[CaptainSGP]

I see both sites as similar, but different target audience.

If Lentor & Tanah Merah same price, I prefer Lentor. Underground MRT & imo better views.

 

[Passerboy]

If Lentor & Tanah Merah same price, I prefer Lentor. Underground MRT & imo better views.

I’m also for Lentor, assuming both priced similar, cos I grew up in the North. And also the fact that Lentor would have more development upcoming over time.

 

[ThinkCarefully]

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I always thought the east more popular (looking at PR8)..

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[ThinkCarefully]

Thereabout. 17xx-18xxpsf at most. Taking ref from Tenah merah site, 9xxpsf ppr

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Lentor ppr similar to slim barracks...
Can expect 21xx psf according to some videos.

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[CaptainSGP]

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I always thought the east more popular (looking at PR8)..

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If PR8 & SKG same price, which will u choose & why ?

 

[ThinkCarefully]

If PR8 & SKG same price, which will u choose & why ?

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If die die must choose one, PR8.
There’s beach and sea nearby and some say the east more Sakti.

What about you?

##%

 

[NiShiZhu]

My choice will be PR8 coz nearer to jewel, airport, CBP. SKG so far not really near to any job creation hub or big retails.
But staying in PR8 need to take note of below:
1) mrt train on the track can be very noisy, esp at pasir ris station.
2) PR8 has surrounding condos, huge supply in pasir ris.
In general, both r quite on par.

 

[Passerboy]

If PR8 & SKG same price, which will u choose & why ?

Pasir Ris 8, cos Pasir Ris is a matured town, and more readily available amenities, nearby got White Sands mall on the new PR8 mall.

 

[Oftheseas]

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Lentor ppr similar to slim barracks...
Can expect 21xx psf according to some videos.

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$21xx psf was before CM when those videos were produced. Now GuocoLand will need to find ways to launch a certain % of units below $2000 psf for support.

The only trump card they have over the upcoming 4/5 plots : integrated with the mrt, control the amenities in that area and dominate the northward reservoir view.