Midtown Bay clinches new high of $4,086 psf

Between Aug 29 and Sept 10, Midtown Bay, a 99-year leasehold condo by Guocoland, achieved a new psf-price high of $4,086 with the sale of a 474 sq ft one-bedroom unit for $1.97 million. This beats the previous high of $3,929 psf from a 732 sq ft two-bedroom apartment sold for $2.9m in January.

With abundant entertainment and leisure options, residents can explore all that the area has to offer. Whether it’s catching a film at the nearby cinema, savouring the explosive flavours of a fancy restaurant, or indulging in shopping sprees – Lumina Grand EC CDL offers a world of possibilities!

As of Sept 21, 121 of the condo’s 219 units had been sold which represents a take-up rate of 55%.

The Landmark, a 99-year leasehold condo, saw a record psf-price of $2,894 on Sept 3 with the sale of a 495 sq ft one-bedder at $1.4 million. This was higher than the $2,879 psf paid for a 678 sq ft two-bedroom in May. Developed by a consortium between ZACD Group, MCC Land, and SSLE Development, The Landmark is located along Chin Swee Road and comprises a single 39-storey tower housing 396 units. It is expected to be completed in 2025 and had already sold 292 units as of Sept 21, representing a take-up rate of 75%.

Freehold condo The Regency at Tiong Bahru ranked third in the list of condos that saw new psf-price highs. A 1,281 sq ft three-bedroom unit was sold for $3.1 million, setting a new psf price high of $2,411. This was purchased in August 2009 for $1.4 million ($1,093 psf) showing a gain of $1.7 million. The Regency at Tiong Bahru, located at Chay Yan Street in Bukit Merah, was developed by UOL Group in 2010 and has 158 units.

No new psf-price lows were recorded during the period in review.

Midtown Bay, located within the integrated development Guoco Midtown along Beach Road, boasts a mix of one- to three-bedroom apartments and features a direct sheltered access to the Bugis MRT Interchange. It also saw a new psf price high from the sale of a unit on Sept 10.

The Landmark and The Regency at Tiong Bahru are yet further examples of Singapore condos achieving record prices, showing a healthy and thriving property market in the country.