Developer GuocoLand recently launched its newest project, the Midtown Modern condominium, located at Tan Quee Lan Street. Over 60% of the available units provided by the project were sold on the weekend of the launch alone, which is a great success for the developer. According to the developer, the majority of the customers were residents of Singapore, part of them being owners and part investors. Thus, it is possible to say that the launch went great since 340 units were sold immediately after the launch was made official, considering that 558 is the total number of units available.
The most sought-after units were the one- and two-bedroom apartments, which were sold in a proportion of 90%. Three-bedroom units were also highly appreciated since half of them found new owners right away. Regarding prices, the units of this project had price tags ranging between $2,401 and $3,501 per square foot, most of the apartments sold recording an average of $2,800 per square foot. Created to be a complex condominium, ready to deliver solutions for all types of homebuyers, Midtown Modern also provided four-bedroom units and penthouses with five bedrooms. Some of these units sold fast as well. Buyers purchased four units with four bedrooms and one penthouse, showing that large apartments have their place on the market.
How soon will buyers be able to get their apartments in this new launch condo? GuocoLand said that the completion of this project will be based on phases and will start next year. Once it is done, the condominium will feature 30 stories and will offer more than just a place to live. It is designed to provide space for retail stores, beautiful landscapes and gardens, and recreational options, such as a swimming pool, tennis court, tea house, clubhouse, and many more. Developments like Midtown Modern represent great options for families or older homeowners, due to the convenient location, a wide range of amenities, and within-reach transportation options. More precisely, the Bugis MRT interchange station is right there, making commuting a comfortable part of life.
For the moment, only smaller families are interested in this project, and younger homeowners. But, based on the provided feedback, people might be interested in the location as they grow older, because it provides the possibility to enjoy an easier life. Also, the developer expects larger families to manifest their interest in the condominium soon, once they discover the opportunity and get used to the new project. Regarding the completion day, Midtown Modern is expected to be finished by 2024, which is not such a distant date.
Above information can be found at the webpage below
https://www.straitstimes.com/business/property/more-than-60-of-units-at-midtown-modern-condo-sold-on-launch-weekend
