Special Feature

Leedon Green: Rare chance to buy last units as District 10 project nears completion

By Leedon Green

August 10, 2023 10:00 AM SGT

Leedon Green, a freehold luxurious residential development in the prestigious Leedon Heights, is targeted to receive its temporary occupation permit by December 2023 (Picture: Samuel Isaac Chua/The Edge Singapore)

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For property buyers and investors, District 10 remains one of the most coveted addresses for residential properties. Besides being close to the city centre, it is home to ample amenities and reputable schools while also boasting proximity to lifestyle hubs such as Orchard Road, Holland Village and Dempsey Hill.

It is little wonder that new homes in this prime district in the Core Central Region (CCR) continue to be highly sought-after. But while demand continues to rise, the supply of new residences in the CCR has become limited, given a lack of new launches. This is especially true for freehold units, which are becoming increasingly harder to obtain.

Such scarcity has made Leedon Green, a freehold condo development, even more desirable. Situated in the prestigious Leedon Heights area, it presents a compelling opportunity for astute buyers seeking a property in this esteemed district.

View of Leedon Green's façade (Picture: Samuel Isaac Chua/The Edge Singapore)

The 638-unit development, located just an eight-minute walk from Farrer Road MRT Station, is jointly developed by established real estate developers, MCL Land and Yanlord Land. The project made waves following its launch in January 2020; it was the best-selling freehold condo project in District 10 for three consecutive years from 2020 to 2022. To date, the development has over 95% of its units sold — a testament to its immense popularity among buyers.

Leedon Green is targeted to receive its temporary occupation permit (TOP) by December 2023. With its freehold tenure, enviable location and near-completed status adding to its allure, discerning buyers cannot miss this final opportunity to snap up one of the few remaining units in this highly desired project. Owner-occupiers would have the added advantage of being able to move into their dream home soon, while investors will imminently be able to start reaping rental income from their unit.

This last phase consists of one-plus-study apartments between 538 and 689 sq ft, and two-bedroom units sized from 614 to 710 sq ft. The starting prices are from $1.608 million and $1.943 million respectively. The prices are categorically palatable given the project’s location and freehold status. “From a quantum perspective, the entry prices of Leedon Green’s one-plus-study and two-bedroom units are among the most attractive in the CCR,” says Dominic Lee, head of the luxury team at PropNex Realty.

Eugene Lim, ERA Realty Network’s key executive officer, shares a similar view, adding that on a median basis, prices for these units at Leedon Green remain within the “sweet spot” of $2.5 million that most home buyers and investors are comfortable with. In addition, there is one exclusive three-bedroom unit available. The 1,356 sq ft unit, which comes with private lift access, is the only three-bedder released for sale, making it a rare opportunity for families and discerning buyers seeking a large-format, spacious home.

The entry prices of Leedon Green’s one-plus-study (pictured here) and two-bedroom units are among the most attractive in the Core Central Region (Picture: MCL Land, Yanlord Land)

Attractive proposition

Further enhancing the appeal of Leedon Green is the fact that the residential market has seen a significant shift in the past year, with the gap between prices in the CCR and other regions narrowing.

In the Rest of Central Region (RCR), recent launches have consistently charted new price benchmarks. Since the start of the year, average prices at new project launches in the RCR have ranged between $2,464 and $2,734 psf, based on caveats lodged as of July 24, 2023 (see table).

In comparison, average prices of units sold at Leedon Green in 2023 stood at $2,746 psf. What’s more, the project is also having a pre-TOP Special Promotion for a limited time, where selected units are priced from $2,429 psf. This poses a significantly attractive proposition, given that buyers can get a brand-new freehold home in the prime CCR area at prices on a par with projects in the RCR. In addition, compared to recent launches, buyers would be able to get the keys to their new home much sooner as Leedon Green is approaching completion.

By entering the market at this opportune time, buyers will be able to ride the long-term price appreciation expected in the CCR, supported by strong market fundamentals. The same holds true for rental prospects, with ERA’s Lim pointing out that adjacent projects such as D’Leedon and Leedon Residence are already commanding median rents of $5.83 psf per month as of 1H2023, which is 10% higher than the whole of District 10. “Leedon Green will be in a good position to command a similar or better rental premium when it is ready for occupation,” he opines.

In addition, considering Leedon Green’s large land-plot of over three hectares and high volume of units, this augurs well for a healthy resale market for the development in the future.

Panoramic view from a 12th-floor unit at Leedon Green (Picture: Samuel Isaac Chua/The Edge Singapore)

Exceptional quality homes

The one-plus-study and two-bedroom units at Leedon Green offer meticulously designed homes that thoughtfully combine luxury and functionality. Boasting efficient layouts, they include units with double-volume ceilings as high as 6m in the living and dining areas, providing a wonderful sense of space and grandness.

Such high ceilings in condo units are expected to become a rarity moving forward, following a circular by URA on the harmonisation of floor area definitions that came into effect in June, thus making such units at Leedon Green a precious find.

In addition, buyers of Leedon Green can indulge in a truly luxurious home that is decked out with top-of-the-line fittings and finishes. These include imported marble tiles in the master bath, Antonio Lupi sanitary wares from Italy, Axor and Hansgrohe sanitary fittings from Germany, an Ernestomeda kitchen set from Italy, V-Zug kitchen appliances from Switzerland, and a Liebherr fridge from Germany. These prestigious brands ensure that one can enjoy the finest quality and craftsmanship in their homes.

Units at Leedon Green offer meticulously designed homes that thoughtfully combine luxury and functionality (Picture: MCL Land, Yanlord Land)

PropNex’s Lee sees the premium fit-out as a standout feature of the development. “There’s really no other project at this price point that is giving such a high level of provisions,” he asserts.

All in all, as one of the best-performing launches in District 10 in recent years, Leedon Green is a highly appealing project among home buyers and investors alike. As it comes close to completion, the opportunity to secure the few units available is one that cannot be missed.

Visit our Sales Gallery at 83 Clemenceau Avenue, #01-32 UE Square, Singapore 239920 (next to Starbucks).

Call 8218 2888 for your viewing appointment.

www.leedongreen.com.sg