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Singapore Property | The demand of units in Midtown Modern flooded during its launch. 340 units which equates to 61% of the development were sold during the weekend launch. 

Typically, almost 50% of 3 bedroom and 2 bedrooms units were in demand and sold on the same day of launching. Also, 2 penthouse and 8, 4 bedroom units were fetched at launch. 

Midtown Modern Launch Moved 340 units
Artist’s Impression

Guocoland said, “In Midtown Modern, a price per sq ft attained during the launch can be estimated from $ 2,401 psf to 3501 psf. The units fetched over the weekend were averagely close to 2,800 psf.”

More on Midtown Modern Launch Moved 340 units

With the above figures, a 4 bedroom unit fetched at $5.63 million and a 1 bedroom sold at $1.17 million. 

In addition, with a 3,520 sq ft 5 bedroom penthouse, the room sold at $ 4,213 psf for 14.63 million. 

The General Manager, Dora Chng Residential at GuocoLand Singapore said, “The rise in demand for units in Midtown Modern can be ascribed to the major development’s peculiar traits, which can’t be copied to clear access to MRT Bugis interchange station as part of the transformative full condo facilities, and Guoco Midtown exceeding one hectare of forest right at the center of the city and gardens,”

Thus: the natives and foreigners constituted 15% of the buyers while Singaporeans made up to 85% of the total buyers. 

GuocoLand surmised that the buyer’s profile embodied a mix of investors from different regions, the owners and the couples or singles who liked one bedroom and tiny 2 bedroom units. On the Flip side, large families were intrigued with super large 2 bedrooms that came with 2 baths, 2 bedrooms, and a utility room plus a 3 bedroom unit. 

Chng said, “Smaller households or those of the younger cohort were the main owners of the 2 bedroom and 3 bedrooms units.” 

He added, they are anticipating a large number of people to visit Midtown Modern as they get familiar to know the basics of the development entails.

To read on more upcoming launches, you may like to visit CanningHill Piers, another launch in District 9, Belgravia Ace, a freehold strata landed by Tong Eng, or another launch in District 19, JBR at Bartley by Wee Hur.

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