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

/ 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.

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.

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.

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.

Check out the latest listings near Midtown Bay, Midtown Modern, The M, Hyll on Holland, Bugis MRT Interchange Station, City Hall MRT Station

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