As the sale of new private homes significantly improves, 2 prime luxury condos are set to launch in 2H2017.
Analysts are of the opinion that the CDL’s New Futura and Martin Modern by GuocoLand may interest foreign and local buyers if priced correctly.
Martin Modern is a 450-unit condominium located in Robertson Quay at the corner of River Valley Close and Martin Place. The 2 – 4 bedrooms units measuring from 800-1,800 sq ft are in 2 towers of 30 storeys each.
(Artist's impression of Martin Modern)
GuocoLand said that the Martin Modern prices will be released at the project’s official launch. However, PropNex Realty predicts the indicative price of the 99-year leasehold project as $2,300 psf.
The site 171,535 sq ft site was sold via the government land sales tender in July 2016 at $595.1m or $1,239 psf ppr.
GuocoLand indicated that the condo will be in a lush greenery land with above 80% of the area converted into a botanic garden with over 200 plant species and more than 50 palms and trees species. All the units have views of the city, the gardens, or Singapore River.
Martin Modern will be well connected since it is near the upcoming Great World MRT and Fort Canning. Shopping malls, schools, hotels, and eateries are also within reach. It’s TOP is set for 2022.
The robust sales at Leedon Residence have given the developer confidence of a good up take of the Martin Modern.
“We feel that there is a growing sentiment by buyers that the luxury market is now providing great value as the supply of prime district land is finite,” said Cheng Hsing Yao, Group Managing Director, GuocoLand Singapore.
New Futura is the other luxury condo to be launched in 2H 2017. The condo by CDL is located in Leonie Hill Road and has 124 units in 2 towers of 36 storeys each consisting of units ranging from 2 bedrooms units to 5 bedrooms penthouses.
“The New Futura prices will be set as the launch date gets closer,” said CDL.
Mr. Wong of OrangeTee estimates the average price of the units to be from $2,700 to $2,900 psf.