GuocoLand’s Midtown Modern introduces ‘Sky-Bungalows’ at S$15.5m to S$17m each

by Albert02

GuocoLand’s Midtown Modern introduces ‘Sky-Bungalows’ at S$15.5m to S$17m each

GuocoLand’s Midtown Modern introduces ‘Sky-Bungalows’ at S$15.5m to S$17m each. GUOCOLAND has unveiled a new collection of six large, double-storey homes at its Midtown Modern condominium in Bugis, with prices ranging from S$15.5 million to S$17 million, or S$4,287 to S$4,701 per square foot (psf).

The “Midtown Modern Sky-Bungalow Collection” was created by stacking together 4-bedroom premium units, an option that the developer offered during its March launch last year. Each of the 6 Sky-Bungalows is 3,616 square feet (sq ft) in size, has 5 bedrooms, and offers panoramic views of the city from the 24-storey North and South Towers of Midtown Modern.

A double-story penthouse on levels 29 and 30 of Midtown Modern’s South Tower, with a 4.2-metre ceiling height on the main living-dining floor, is one of the six. All of the designs will be created by Saporiti Italia, an Italian interior design and furniture company. According to a press release issued on Tuesday, GuocoLand introduced these larger, double-story options in response to “the lifestyle preferences of today’s homeowners, who need larger homes with ample spaces for hosting and entertaining guests, as well as catering to a variety of living and home-working needs” (July 5). The development also has two single-story penthouses that have both been sold: a 4-bedroom, 3,272 sq ft unit and a 5-bedroom, 3,520 sq ft unit.

During the 99-year leasehold condominium’s launch weekend last March, 61% or 340 of its 558 units were sold, with 90% or about 273 of its 1-bedders and 2-bedders transacted. Almost half of the 3-bedroom units were sold at the time, but only 8 of the 110 available 4-bedroom units were purchased. At the launch, the average selling price was close to S$2,800 psf, with transacted prices ranging from S$2,401 psf to S$3,501 psf, or approximately S$1.17 million for a 1-bedroom unit to S$5.63 million for a 4-bedroom unit. At the time, the 5-bedroom penthouse was also sold for S$14.83 million, or S$4,213 per square foot.

According to a spokesperson for the development, it is now 76 percent sold, with “prices based on transactions in 2022” ranging from S$2,562 psf to S$4,279 psf. The 1- and 2-bedders are now sold out, and the remaining sizes are “more than half sold.” The luxury condominium on Tan Quee Lan Street is set to open in 2024 as part of GuocoLand’s massive Guoco Midtown integrated development. Midtown Bay, a 33-story, 219-unit residential development within Guoco Midtown, will open in October 2019.

Lentor Modern, a 605-unit mixed-use development with a 99-year leasehold, is set to open later this year.

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Source:
https://www.businesstimes.com.sg/real-estate/guocolands-midtown-modern-introduces-sky-bungalows-at-s155m-to-s17m-each

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