One-bedder at Midtown Bay hits psf price high of $3,454

By Atiqah Mokhtar / EdgeProp Singapore | August 26, 2022 4:00 PM SGT
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SINGAPORE (EDGEPROP) - A 484 sq ft one-bedder at Midtown Bay, the luxury condominium at mixed-use project Guoco Midtown, was sold on Aug 9 for $1.69 million or $3,454 psf. This marks the highest psf price transacted at Midtown Bay this year, and the highest among all condominiums that registered new price highs for the period of Aug 7 to 16.
The 99-year leasehold project has 219 units comprising a mix of one-, two- and three-bedroom apartments with sizes ranging between 409 and 1,324 sq ft. Since its launch, 88 units have been sold based on caveats lodged at an average price of $2,971 psf, translating to a take-up rate of 40%.
Midtown Bay is one of two residential developments at Guoco Midtown in the Bugis-Beach Road area, the other being the 558-unit Midtown Modern. Other components at Guoco Midtown include 770,000 sq ft of Grade-A office space, an 80,000 sq ft business and lifestyle hub, and over 30,000 sq ft in retail space. The development will be completed in phases from 4Q2022.
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Guoco Midtown will have a direct underground link to Bugis MRT Interchange Station for the Downtown and East-West Lines.
Another upcoming project in the Bugis-Beach Road district, Wing Tai Holdings’ The M, also saw a new psf price high when a 527 sq ft, one-bedroom-plus-study unit was sold by the developer for $1.69 million, or $3,174 psf, on Aug 13. This marks a new all-time price high for the development since its launch in February 2020.
The M is a 99-year leasehold project on Middle Road that will comprise three 20-storey towers and a six-storey tower. There are a total of 522 residential units as well as commercial units available on the ground floor.
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Residential units comprise a mix of studio units as well as one- to three-bedroom apartments. To date, the development has seen around 93% of units sold at an average price of $2,491 psf, based on caveats lodged.
The project is within walking distance of a number of MRT stations, including Bugis (interchange for Downtown and East-West Lines), Esplanade (Circle Line) and City Hall (interchange for East-West and North-South Lines).
Hyll on Holland is another upcoming development that hit a new psf price high. A three-bedroom-plus-study deluxe unit measuring 1,055 sq ft on the 12th floor was sold by the developer for $3.1 million, or $2,938 psf, on Aug 9.
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Hyll on Holland is a 319-unit freehold condominium located on Holland Road. Developed by joint-venture partners Far East Consortium International and Koh Brothers Group, the project has exclusively two- and three-bedroom units, measuring between 570 and 1,055 sq ft.
To date, Hyll on Holland has a 66% take-up rate, with units sold at an average price of $2,551 psf based on caveats lodged.
No new psf price lows were recorded during the period in review.

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