Midtown Modern Sells 61% Of Units At Launch
Midtown Modern observed a great request throughout its own launch, with Three hundred Forty flats or 61% of the condo’s 5hundred 58 flats dealed over the few days commencement.
Specifically, almost 90% of every 1 plus 2 bedroom flats and almost half% of every 3 room flats were sold during the course of the kick off.
Eight of four bedroom flats were additionally dealed alongside one particular of the two penthouses.
“The figure per sq foot accomplished by Midtown Modern varied from $2thousand 4hundred psf to $3thousand 5hundred psf, with units cost an average cost nearly $2.8K per sq foot,” announced GuocoLand.
By having this, a 1 bedroom unit amount to $1.17 million along with $5.63 million for a 4 room flat.
The five bed room penthouse, that spans 3.520K sq foot, sold for $14.83 mil or $4,213 psf.
“The engulfing demand for Midtown Modern can be attributed to the property’s special characteristics which are unreplicable– straight accessibility to Bugis Mass Rapid Transit interchange station, being part of the all-in-one Guoco Midtown, and detailed apartment conveniences with more than one hectare of yards and woods perfectly in the middle of the town,” claimed Dora Chng, General Manager, Residential at GuocoLand SGP.
SGPreans justified 85% of the overall homebuyers, while at the same time long term residents and foreigners formed the balance 15%.
GuocoLand noted that the customers characteristic feature “a mix of owner-occupiers and capitalists spanning diverse demographics, from singles or couples that favor the one-bedroom as well as more compact 2 bedroom units, to households who get excited towards the livable and highly functional bigger 2 bedroom (that incorporates 2 bedrooms, two baths and a laundry room) and also 3 bed room flats”.
The majority of the owner-occupier shoppers come as smaller sized house numbers or are actually of younger gen, that discovered the two-bedroom and 3 bed room unit design and style “considerably considerately crafted for liveability”, said Chng.
In fact, some of the investor-buyers also revealed their idea to ultimately move in to Midtown Modern when they age.
“We are predicting larger sized family groups to turn up as these individuals get better informed with the property,” added Chng.
Ready to be finalized in ’24, Midtown Modern is a collaboration between GuocoLand, Hong Leong Holdings Ltd plus Hong Realty (Private) Ltd.
It started for viewing on 6Mar, having the show gallery positioned at Kallang Airport Way.