Midtown Bay Highest Price $3492 psf since launch
Midtown Bay Highest Price i.e. the highest psf transaction was for a one-bedroom apartment at Midtown Bay, a premium condominium at mixed-use property Guoco Midtown, during the week of April 5 to 16. The 409-square-foot apartment sits on the 16th floor of the 99-year leasehold tower.
On April 10, developer GuocoLand sold the apartment for $1.43 million ($3,492 psf), a new psf high for the development since its October opening. On October 10, 2019, a 484 sq ft unit sold for $1.84 million, setting a psf high of $3,804 in Midtown Bay.
The 219 units at Midtown Bay span 33 stories and include one-, two-, and three-bedroom apartments with sizes ranging from 409 to 1,324 square feet. Since its debut, 85 apartments have been sold based on caveats at an average price of $2,963 psf, representing a 39 percent take-up rate.
Midtown Bay is one of two residential subdivisions in the Bugis-Beach Road district’s Guoco Midtown integrated development. The other residential project is the 558-unit Midtown Modern, which opened in March 2021 and has sold 74 percent of its units at an average price of $2,740 per square foot. Guoco Midtown also features 770,000 square feet of Grade A office space, an 80,000 square foot business and lifestyle centre, and over 30,000 square feet of retail space. From 4Q2022, the development will be finished in stages.
Guoco Midtown will connect directly to Bugis MRT interchange station for the Downtown and East-West lines, as well as three other MRT stations: City Hall (interchange for East-West and North-South lines), Promenade (interchange for Circle and Downtown lines), and Esplanade (interchange for Circle and Downtown lines) (Circle line). A continuous shielded link connects the project to Suntec City, Marina Square, and Millenia Walk, in addition to providing easy access to public transportation. This would be similar to Lentor Modern, another upcoming project by Guocoland in 2H2022.
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