Midtown Bay achieves a new high of $4,190 psf

February 1, 2024

Midtown Bay has topped the list of condos that hit a new psf-price high from Jan 12 to 20. This follows the developer sale of a one-bedroom unit on the 22nd floor measuring 484 sq ft for $2.028 million on Jan 19. The price works out to $4,190 psf, marking a new high for the 99-year leasehold apartment located on Beach Road in District 7.

Midtown Bay is part of the Guoco Midtown integrated development in the Beach Road and Bugis area. This 219-unit condominium is one of two residential projects within the development, the other being Midtown Modern, a 588-unit complex situated on Tan Quee Lan Street. Guoco Midtown features residential spaces, a 30-storey Grade A office tower, a business and lifestyle hub and retail spaces. It is connected to the Bugis MRT Interchange Station, serving both the Downtown and EastWest Lines. Construction of the mixed-use development is progressing in phases, with the completion of the office tower, network hub and retail podium in the last year. The residential developments are expected to be finished by the middle of the year.

Midtown Bay comprises a single tower consisting of one-bedroom apartments from 409 sq ft, two-bedders from 723 sq ft, two-bedroom duplex units from 990 sq ft and three-bedroom duplexes of 1,324 sq ft. The development was launched for sale in October 2019. Caveats lodged as of Jan 30 show that 129 (59%) units have been taken up at an average price of $3,068 psf.

Leedon Green also hit a new psf-price high during the period in review after a 1,356 sq ft, three-bedroom unit on the 10th floor was sold by the developer for $4.71 million or $3,471 psf on Jan 12. This beats the previous high of $3,467 psf established last March following the sale of a 1,496 sq ft unit for $5.19 million.

Leedon Green is a freehold condo on Leedon Heights in prime District 10, within walking distance of the Farrer Road MRT Station on the Circle Line. It has 638 units across seven blocks. Units include one-bedders from 474 sq ft, one-bedroomplus-study units from 538 sq ft, two-bedroom units from 614 sq ft, two-bedroom-plus-study units from 818 sq ft, three-bedroom units from 958 sq ft, four-bedders from 1,496 sq ft and duplex garden villas from 2,400 sq ft.

The condo received its temporary occupation permit at the end of last year. Caveats lodged show that 633 or 99% of units at Leedon Green have been sold since its launch in January 2020, with units transacted at an average price of $2,753 psf.

Another development that clinched a new high during the period in review is Residences @ Evelyn. On Jan 16, a three-bedroom unit spanning 1,539 sq ft changed hands for $3.76 million or $2,441 psf, marking a new psf-price record for the condo. It is also the first time a unit transacted at the development has crossed the $2,400 psf threshold.

Located on Evelyn Road, off Dunearn Road and Newton Road in District 11, Residences @ Evelyn is a freehold condo completed in 2007. The 208-unit development consists of two 33-storey towers, with units comprising a mix of two-bedders between 1,033 sq ft and 1,141 sq ft, three-bedroom units between 1,528 sq ft and 1,539 sq ft and four-bedders of 2,250 sq ft. There are also penthouses between 2,067 sq ft and 3,466 sq ft.

The condo is an eight-minute walk to the Newton MRT Station, an interchange between the Downtown and North-South Lines.

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

More at: https://www.edgeprop.sg/property-new...-high-4190-psf