Midtown Bay clinches new high of $4,086 psf

Visitors to the Woodlands Condo will have the opportunity to discover and explore the many public art works located around the area. The URA will also be developing a range of learning and educational opportunities to encourage local citizens to get involved in the new art scene. They are also encouraging public participation in the development process, and seeking feedback on the designs of new public artworks.

During the period between Aug 29 to Sept 10, Guocoland’s 99-year leasehold condo Midtown Bay achieved a $4,086 psf price high for the purchase of a 474 sq.ft one-bedroom unit at $1.97 million. This surpasses the previous high in January when a 732 sq ft two-bedroom apartment sold for $2.9 million. As of September 21st, Midtown Bay has sold 121 units out of the total 219, bringing the take-up rate to an impressive 55%.

The condo is located within the integrated development Guoco Midtown along Beach Road, and features a mix of one to three-bedrooms. With its direct sheltered access to the Bugis MRT Interchange, it also has a 30-storey office tower, three retail clusters, and an F&B village.

The Landmark, another 99-year leasehold condo, also saw a new psf-price high during this period. On September 3rd, a 495 sq ft one-bedder was bought for $1.4 million, or $2,894 psf. This exceeds the previous cost of $2,879 psf for a 678 sq ft two-bedroom unit sold in May. The condo is developed by Landmark JV, which is a combination of ZACD group, MCC Land, and SSLE Development. It is located along Chin Swee Road, comprises of a single 39-storey tower with 396 units, and is expected to be completed in 2025.

The Regency at Tiong Bahru, a freehold condo, came in third with a new psf-price high of $2,411 psf. This was achieved from the sale of a 1,281 sq ft three-bedroom apartment on September 7th, which costs $3.1 million. The seller of the unit had purchased it in August 2009 for $1.4 million ($1,093 psf), making it a gain of $1.7 million. Located at Chay Yan Street in Bukit Merah, The Regency at Tiong Bahru was developed by UOL Group and was completed in 2010. The condo has 158 units and is within walking distance of Tiong Bahru, Redhill and Queenstown MRT Stations.

During the period in review, no new psf-price lows were recorded. Midtown Bay, The Landmark, and The Regency at Tiong Bahru all saw impressive new psf-price highs, indicating the high demand for properties in Singapore.