Lentor's first 39 profitable sub-sales — and the land ledger behind them

How many profitable early resales has Lentor seen?

Thirty-nine, and every one came from a single project. As of early July 2026, the Lentor area in District 26 has recorded 39 profitable sub-sales. Those are owners who sold before or just after the project was finished. All of them trace to Lentor Modern, the estate's first condominium, which was finished in the third quarter of 2025.

The figures come from URA caveat data compiled by ERA Research and Market Intelligence. That works out to roughly one in every 16 of the 605-unit project's homes already exiting at a profit around completion, on our own calculation. Lentor did not exist as a private housing estate before September 2022. There have been six launches since, a seventh booking on 18 July, and another state land plot at Lentor Central in the pipeline. So this is the first hard evidence of how the area performs as it matures.

Which unit types drove the profits?

Three-bedroom homes did the volume. They account for 23 of the 39 deals, or 59%. Two-bedders follow with 11, or 28%, then four-bedders with 4, and a single one-bedroom sale. Drill down one level and the concentration sharpens. The 990 sq ft three-bedroom layout alone recorded 14 deals. That is more than every non-three-bedroom type put together.

Total profit told a different story from volume. By dollars, the four-bedders posted the largest gains, between $437,000 and $590,700, taking the top three spots outright. Three-bedders were close behind, with top-ten profits from $396,020 to $488,830. On a 990 sq ft unit, a gain in that band is roughly $400 to $495 psf. That is over about three years, on our own calculation. Individual units vary. The project launched at $1,856 to $2,538 psf in September 2022. So that is growth of roughly 20%, before costs. We return to that caveat below.

What price range did buyers favour?

A tight one, and this is the part sellers and future buyers should study most closely. Of the 39 deals, 19 closed between $1.5 million and $2 million, and another 14 between $2 million and $2.5 million. That is 33 of 39, or 84.6%, in a single million-dollar band. Add the three deals below $1.5 million and 36 of 39, or 92.3%, closed at $2.5 million or below. Only three deals went above it. Whatever Lentor's eventual ceiling turns out to be, the part of the market that actually trades today sits between $1.5 million and $2.5 million. That is squarely where HDB upgrader budgets sit, a group we sized in our analysis of Singapore's changing housing demand.

Do these deals match the wider suburban market?

Almost exactly, and that matters. Thirty-nine deals from one project is a small sample until you can show it is not an oddity. Across the suburbs, URA caveats lodged as at 9 July 2026 record 140 sub-sales in the first half of 2026. By size, two bands stood out. Homes of 60 to 70 sqm took 24 deals, or 17.1%. Homes of 90 to 100 sqm took 28, or 20.0%. Those are the same two- and three-bedroom footprints that dominated at Lentor Modern. By price, the $1.5M to $2M and $2M to $2.5M bands took 50 and 33 suburban deals. Together that is nearly 60% of all suburban sub-sales in the half, mirroring Lentor's own skew.

Read together, the two datasets say something simple. Suburban buyers in 2026 are paying for one specific product: a two- or three-bedroom family home between roughly $1.5 million and $2.5 million. And they are paying reliably enough that early owners of exactly that product are exiting with six-figure profits. Want to see which projects still offer it? Entry prices by bedroom count sit in our new launch price dataset.

What does the land-cost record show?

Something counter-intuitive. Every Lentor project began as a state land tender. The seven tenders here since 2021 form a clean test of how land cost turns into buyer outcomes. That is the idea our decade-long land cost tracker tests across the whole market. The striking fact is this. Lentor Modern sat on the most expensive land in the estate, at $1,204 psf ppr in July 2021. And it is the project that produced every profitable resale.

Three things fall out of that record. First, the first-mover pricing. Lentor Modern's buyers entered at about $2,107 psf, on the priciest land in the area. That is a land-to-sale multiple of 1.75 times, lean against the 2.12 times decade median in our tracker. Second, the land market has swung hard. It fell from $1,204 to $920 psf ppr for Lentor Gardens Residences in April 2025. Eleven months later it was back up to $1,278 at Lentor Central. That is a 39% jump, which we flagged when the award landed in our GLS pipeline tracker. Third, and most important if you are projecting these 39 deals forward. Lentor Gardens Residences sits on $920 land and reportedly opens near $2,350 psf. That is roughly 2.55 times its land cost. In plain terms, today's entry price already banks much of the maturity premium that Lentor Modern's buyers earned as growth. How land cost becomes launch price, including building work and developer margin, is worked through in our pricing methodology.

What does this mean for the Lentor Gardens Residences launch?

The launch that gives this dataset its timing is Lentor Gardens Residences. It has 499 condominium units plus three shops, about 430m from Lentor MRT on the Thomson-East Coast Line. It books on 18 July 2026. Its preview drew roughly 5,000 visitors, as we noted in our June 2026 developer sales report. Its unit mix reads almost as if it were drawn from the resale table above. It runs two- to four-bedders of 646 to 1,356 sq ft, with no one-bedders. The weight sits in exactly the sizes Lentor has proven it can resell.

For the developer, that evidence is close to a product specification. There is a ready pool of buyers for family-sized homes between $1.5M and $2.5M. And the last launch year left little unsold stock across Lentor's first six projects. For buyers, the same evidence cuts both ways. Demand for the product is proven. So is the price at which the market now clears it. A three-bedder at about $2,350 psf lands most typical layouts in the low to mid $2 millions. That is inside the liquid corridor at the smaller end, and above it at the larger end. Track the booking-day outcome in our upcoming launches tracker. Or line the project up against Lentoria and other District 26 homes in the comparison tool.

What do these 39 deals not tell you?

Four things, and each matters. The sample is small and comes from one project. Thirty-nine deals from a single completed development is an early snapshot, not a verdict on the area. The suburb-wide parallels strengthen it, but five more Lentor completions between now and 2028 will each add their own test. The profits are gross. The figures leave out the stamp duty paid on entry, roughly three years of mortgage interest, agent fees and legal costs. Anyone who sold within three years of buying also paid Seller's Stamp Duty of up to 12%, under the schedule for 2022 purchases. Net gains are much thinner than the headline gains.

The window that produced these profits has partly closed. Lentor Modern's buyers entered at $1,856 to $2,538 psf in September 2022, when $2,000 psf was a new benchmark for the suburbs. They sold into a market that had normalised it. Now look at a buyer entering Lentor Gardens Residences near $2,350 psf. They are buying closer to where Lentor Modern's sellers left than to where they came in. And the rulebook changed. On 3 July 2025 the government brought back a four-year selling tax. It cited a big rise in the resale of homes that were not yet finished. The rates are 16%, 12%, 8% and 4% for purchases made on or after 4 July 2025. Every buyer at the 18 July launch is under that schedule. So the early exit that made Lentor Modern's numbers possible is now, by deliberate policy design, a four-year commitment. Run the sums in our stamp duty calculator before assuming an early exit is cheap.

What does it mean for buyers?

If you are considering the Lentor Gardens Residences launch: the evidence favours the two- and three-bedroom stacks, and prices under $2.5 million. Those are the bands the resale market has actually proven. Our new launch buying guide covers booking-day mechanics, from cheques to balloting. Working out your true all-in position takes ten minutes with the affordability calculator.

If you own an HDB flat and want to upgrade: Lentor's liquid band is priced almost exactly where upgrader budgets sit. That is why competition for those stacks is sharpest. Our sell HDB, buy new launch guide works through whether to sell first or buy first, plus bridging finance and stamp duty deadlines.

If you are watching rather than buying: the next data points arrive on a schedule. First, how much Lentor Gardens Residences sells on 18 July. Then how the Lentor Central project prices off its $1,278 psf ppr land. Both feed our pipeline tracker. Exit outcomes across 199 completed projects live under Price Trends.

The short version — read this first

Six things to take away.

So what should you do with this?

• If you are buying here, the evidence favours two- and three-bedroom stacks under $2.5 million. That is where the resale market has actually cleared.
• Do not read these gains as your gains. They are before stamp duty, interest and fees, and net figures are much thinner.
• Assume a four-year hold. Purchases from 4 July 2025 carry a selling tax of up to 16% in the first year.

Frequently asked questions

The same preference showed up at the next launch we studied in detail. At Dunearn House in District 11, the three-bedroom band cleared 84.4% on booking weekend, against 38.0% for the four-bedroom band. The cheapest layout in the project cleared just 30%. Our Dunearn House launch demand study sets out the numbers layout by layout.

Sources & methodology

Sub-sale transaction counts, unit-type and price-bracket breakdowns, profit ranges and the 1H 2026 OCR sub-sale benchmarks are drawn from URA caveat data (as at 7 and 9 July 2026 respectively) as compiled and published by ERA Research and Market Intelligence, with EdgeProp data, in ERA Singapore's analysis of Lentor's first profitable sub-sales (10 July 2026, by Stanley Lim). Both infographics and the Lentor Gardens Residences artist's impression on this page are reproduced from that publication with attribution. Lentor Gardens Residences launch details (499 units + 3 shops, 18 July booking, 646–1,356 sq ft, 2–4-bedders) follow ERA; its ~$2,350 psf reported average follows Stacked Homes (July 2026). Lentor Modern's launch performance (84% first-weekend take-up, $1,856–$2,538 psf launch range) and ~$2,107 psf fully-sold average follow EdgeProp reporting of URA caveats (2022 and January 2025).

Land tender dates, rates and unit yields for all Lentor sites are from PropertyInsider.sg's land sales dataset of 256 URA/HDB tenders and en bloc transactions since 2016, cross-checked against URA tender records; the 1.75× and ~2.55× land-to-price multiples and the one-in-16-units figure are PropertyInsider computations from those inputs. Lentoria pricing is from PropertyInsider.sg's project dataset (updated 16 July 2026). The Lentor Central (Plot 4) launch range is a PropertyInsider estimate produced by pricing model v2, documented at propertyinsider.sg/research/pricing-methodology. Seller's Stamp Duty changes are per the MND/MAS announcement of 3 July 2025 and IRAS's published SSD schedule.

Does a newer project beat an older neighbour? We test that across four paired comparisons, including Lentor Modern's rental premium over The Calrose, in our new launch versus resale case studies.

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