Midtown Bay’s one-bedder unit sold for the highest price of $3,492 psf since launch

From between April 5 and 16 The highest sale recorded using a psf-based basis , was for a single-bedroom unit in Midtown Bay which is the luxurious condominium in the mixed-use Guoco Midtown. The area of the unit is 409 square feet and is situated at the top of 16 floors in the 99-year leasehold structure.

Amo Residences floor plan of housing units in its low-rise 4-storey building and the high-rise 29-storey building in the two zones.

The unit was purchased through developer GuocoLand to GuocoLand for $1.43 mil ($3,492 per square foot) in April, thereby establishing an all-new high in psf prices for the project since it was launched in October of this year. The time was when Midtown Bay recorded a psf price record of $3,804 as a 484 square feet unit was purchased at $1.84 million on October 10, 2019.

The 33 storeys of 219 apartments at Midtown Bay comprise a mix of one two-, one-, and three-bedroom homes that range from 409 sq ft to 1,324 sq feet. Since the project’s launch it has seen 85 units sold based on caveats that were lodged with an average cost of $2,963 per sq ft, which amounts to a take-up that is 39%.

Midtown Bay is one of two residential developments within Guoco Midtown integrated development in the Bugis-Beach Road area. There is also a 558 unit residential building called Midtown Modern, that was officially launched in March 2021 and has 74% of the units being sold with an average of $2740 per square foot. Other features of Guoco Midtown include 770,000 sq feet of office space that is Grade A as well as an 80,000 sq ft office and living hub and more than 30,000 square feet for retail. The project can be completed in stages starting in 4Q2022.

Guoco Midtown will have a direct underground connection to the Bugis MRT interchange station that serves lines such as the Downtown as well as East-West lines as well as being in the vicinity of three additional MRT stations including City Hall (interchange for East-West and North-South lines), Promenade (interchange for Circle and Downtown lines) and Esplanade (Circle line). Apart from the ease of access to public transportation and public transport, the development is near to places such as Suntec City, Marina Square and Millenia Walk through a continuous secure connection.

Leedon Green is another project which saw a psf record, following the sale of the three-bedroom home with 1,356 square feet of space was sold for $4.24 million, or $3,128 per square foot on the 15th of April. It is the latest all-time highest price for the freehold property.

The apartment is situated at the top of the building’s seven towers. There are 638 units at Leedon Green, comprising a mixture of one- to four-bedroom units. The sizes of the units range from 474 sq ft and 2,680 sq feet.

The development, situated on Leedon Heights, off Farrer Road is a redevelopment from the old Tulip Garden through a joint partnership with MCL Land and Yanlord Land. The project began in January 2020. As of now there have been the project has sold 58% of the units in Leedon Green have been sold at an average cost of $2,687 based on caveats filed.

Avenue South Residence also set an all-time record in terms of psf rates. On April 14a two-bedroom 657 square feet unit sold for $1.72 million, or $2,620 per square foot. The property sold is in the upper floor on the 5th of the 99 year leasehold.

Avenue South Residence is located in Silat Avenue off Kampong Bahru Road in District 3. It comprises 1,074 units spread across 2 towers. The development is designed in partnership with UOL Group. Each tower is 56 stories and offers the top units stunning perspectives of downtown as well as in the Greater Southern Waterfront precinct. The tower was completed in February and is set to be granted a temporary occupancy permit in the 2nd quarter of 2023. It is the highest residential tower constructed using prefabricated volumetric construction that is prefinished (PPVC). As of today it has been sold the tower has sold 93% of the units in Avenue South Residence have been sold for an average of $2,075 per square foot.

There were no new lows in the price of psf were observed during the period.