Lentor Mansion comprises three 16-story high-rise buildings and three 8-story buildings, with a large scale and unique design. Analysts point out that the project adopts the concept of black and white colonial-style houses and is marketed as luxury apartments, attracting the interest of numerous buyers. At the same time, Lentor Mansion demonstrates strong competitiveness in public facilities and unit design, providing buyers with a comfortable and efficient living environment.
In comparison, the previously tepid Lentoria project had only 267 units, while Lentor Mansion's scale far surpasses it, making it more attractive. According to data released by Guo Hao Real Estate, Lentor Mansion sold out 214 two-bedroom units and 84% of 199 three-bedroom units over the first weekend, demonstrating high recognition and favorability among buyers for the project. Additionally, sales of four-bedroom and five-bedroom units also remain satisfactory.
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Moreover, Lentor Mansion's relatively lower prices have attracted more price-sensitive buyers. The units range from 527 square feet to 1507 square feet, with prices ranging from 1.149 million to 3.512 million yuan, making the price per square foot relatively affordable. Furthermore, with 99% of buyers being citizens or permanent residents, mainly purchasing for self-occupation, this has further fueled the sales boom.
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This booming sales situation also reflects the vitality and potential of the Toronto area real estate market. Despite multiple rounds of cooling measures and persistently high mortgage rates, there remains strong demand in the market, particularly from HDB upgraders and owner-occupiers. The successful sales of Lentor Mansion not only inject confidence into the entire market but also potentially reignite people's interest in Toronto area properties, thereby stimulating sales in other projects.
Of particular note, Lentor Mansion is the first private residential project launched based on uniform strata and total floor area criteria. This new criterion requires developers to sell units based on actual livable space, avoiding disputes over space calculations. It has been proven that the implementation of this criterion has not affected sales but instead gained recognition and acceptance from buyers.
