Midtown Modern Sells 61% Of Units At Launch
Midtown Modern observed an overpowering appeal throughout its launch, with 340 units or Sixty Onepercent of the condo’s Five hundred Fifty-eight units transacted over the few days start.
Notably, almost Ninety% of total 1 also 2 bedroom flats and near half% of all 3 bed room flats were transacted throughout the release.
8 units of 4 bed room flats were additionally transacted additionally one particular of the 2 penthouses.
“The price tag psf achieved by Midtown Modern ranged from $2thousand 4hundred psf to $3,501 psf, with units dealed at a mean price tag roughly $2.8K per square foot,” claimed GuocoLand.
By having this, an one bed room flat amount to $1.17 mil also $5.63 million for a 4 bedroom unit.
The five bedroom penthouse, in which covers 3.520K square ft, went for $14.83 mil or $4,213 per sq ft.
“The overwhelming demand for Midtown Modern can absolutely be connected to the property’s standout characteristics which happen to be unreplicable– express accessibility to Bugis Mass Rapid Transit interchange terminal, being part of the all-in-one Guoco Midtown, and also full residence features with at least 1 hectare of patios and forest directly in the heart of the town,” announced Dora Chng, GM, Residential at GuocoLand S’pore.
SGPreans accounted for Eighty-five percent of the overall customers, while at the same time PR including foreigners made up the last Fifteen percent.
GuocoLand observed that the purchasers characteristic consist of “a mix of owner-occupiers and capitalists from various market, from singles or partners who favor the one-bedroom and also scaled-down two bed room units, to family units who get excited towards the extremely effective and liveable bigger 2 bed room (that includes 2 bed rooms, two showers and also a laundry room) and also 3 room flats”.
The majority of the owner-occupier shoppers originate from smaller sized home numbers or are of young adult age, that came across the three-bedroom and 2 bedroom flat outline “remarkably thoughtfully made for liveability”, pointed out Chng.
In fact, several of the investor-buyers also expressed their intention to ultimately move in to Midtown Modern when they grow older.
“We are assuming bigger family groups to show up as they get better familiarized with the development,” add on Chng.
Ready to be concluded in 2024, Midtown Modern is a teamwork of GuocoLand, Hong Leong Holdings Ltd plus Hong Realty (Private) Ltd.
It released for preview on 6 Mar, having the show gallery placed at Kallang Airport Way.