Midtown Bay one bedroom and 484 square feet of living space located inside the Guoco Midtown mixed-use development was recently sold for $1.69 million, which is equivalent to $3,454 per square foot. This is the highest price per square foot that has been transacted at Midtown Bay this year, as well as the highest price per square foot for any condominium that has reached a new price high between August 7 and August 16.
219 apartments with one, two, and three bedrooms are included in the 99-year leasehold development’s unit count. The apartments’ square footage ranges from 409 to 1,324 square feet. Since its inception, 88 units have been sold based on caveats submitted at an average price of $2,971 psf; this translates to a take-up percentage of 40%. The average price of these caveats was $2,971 psf.
The second residential development in Guoco Midtown in the Bugis-Beach Road region is called Midtown Modern, and it has 558 individual units. Midtown Bay is one of two residential projects at Guoco Midtown. In addition, the Guoco Midtown development has approximately 30,000 square feet of retail space, a business and leisure center that spans 80,000 square feet, and 770,000 square feet of Grade-A office space. The development will be finished in stages beginning in the fourth quarter of 2022.
Guoco Midtown will include an underground connection that is direct to the Bugis MRT Interchange Station, which serves the Downtown and East-West Lines.
About The M Condo
On August 13, a 527 square foot, one-bedroom-plus-study apartment in the future building The M by Wing Tai Holdings was sold by the developer for $1.69 million, which works out to $3,174 per square foot. This sale set a new psf price high in the Bugis-Beach Road neighborhood. Since it was first introduced in February of 2020, this is the development’s all-time best pricing point.
The M is a project that will be located on Middle Road and will have a leasehold duration of 99 years. It will consist of three towers that are 20 stories tall and one tower that is six stories tall. The ground level has a combined total of 522 residential apartments in addition to the available commercial spaces.
The residential units include a variety of floor plans, ranging from studios to apartments with up to three bedrooms. According to the caveats that have been submitted, the development has had an overall sale rate of around 93% of the units at an average price of $2,491 psf.
The project is located in close proximity to a number of MRT stations, including Bugis (which serves as an interchange for the Downtown and East-West Lines), Esplanade (which serves the Circle Line), and City Hall (interchange for East-West and North-South Lines).
Hyll on Holland is another forthcoming development that has achieved a new price peak per square foot. On August 9, the developer sold a luxury apartment with three bedrooms and a study that was 1,055 square feet and located on the 12th level for $3.1 million, which is equivalent to $2,938 per square foot.
On Holland Road is the freehold condominium community of Hyll on Holland, which has 319 individual apartment units. The project was developed as a joint venture by Far East Consortium International and Koh Brothers Group. It consists entirely of apartments with two or three bedrooms and ranges in size from 570 to 1,055 square feet in footprint.
The Hyll on Holland development now has a take-up rate of 66%, with units sold at an average price of $2,551 psf based on caveats that have been recorded.