Midtown Modern Sells 61% Of Units At Launch
Midtown Modern recognized an engulfing need midst its start, with Three hundred Forty units or Sixty One% of the project’s 5hundred 58 units marketed over the week end launch.
Specifically, almost 90% of total 1 including 2 bed room flats and near fifty% of all three bedroom flats were shifted midst the kick off.
Eight units of 4 bedroom units were likewise marketed along with 1 of both penthouses.
“The price psf accomplished by Midtown Modern varied from $2,401 psf to $3,501 per square foot, with flats dealed at an average pricing roughly $2,800 psf,” reported GuocoLand.
Through this, an one bed room unit cost $1.17 million also $5.63 mil to get a 4 room flat.
The 5 bed room penthouse, which stretches over 3,520 sq ft, went for $14.83 million or $4,213 per sq foot.
“The tremendous need for Midtown Modern can be credited to the project’s standout features that are unreplicable– immediate accessibility to Bugis MRT interchange terminal, being part of the all-in-one Guoco Midtown, and complete apartment features with greater than one hectare of gardens and woodland right in the middle of the town,” stated Dora Chng, General Manager, Residential at GuocoLand Singapore.
S’poreans accounted for Eighty-five% of the total customers, whilst long term residents and noncitizens represented the last FIfteen%.
GuocoLand noted that the shoppers profile include “a blend of owner-occupiers as well as financiers all over various demographics, from singles or couples that give preference to the 1 bed room also more compact two room units, to families that get swayed with the livable and very functional more substantial two room (that includes 2 bed rooms, two bathrooms as well as an utility room) as well as three room flats”.
Most of the owner-occupier homebuyers originate from smaller sized home numbers or happen to be of younger age groups, who discovered the three-bedroom and two-bedroom flat format “remarkably thoughtfully produced for liveability”, said Chng.
A number of the investor-buyers further conveyed their objective to eventually relocate into Midtown Modern when they get older.
“We are foreseing larger family members to come as these people receive better accustomed with the project,” added Chng.
Ready to be completed in 2K24, Midtown Modern is a partnership concerning GuocoLand, Hong Leong Hldg Limited plus Hong Realty (Private) Ltd.
It opened for viewing on 6March, with the show room placed at Kallang Airport Way.