Very soon the Tan Queen Lan Street, located in Bugis, will officially enjoy a brand-new Singapore condominium. The project developed by GuocoLand is almost done and getting ready to be launched. Those interested in units in this condominium should know that prices will start around $1.1 million for one-bedroom units ranging between 409 and 474 square feet. Penthouses with five bedrooms, on the other hand, which measure 3,500 square feet, will have selling prices of around $14.98 million. The good news is that you’ll have a good offer to choose from, as the condominium offers 558 units for all types of homebuyers.
Scheduled to be put up for sale on the 20th of March, the completion date for this project was set for 2024. The new launch condo, Midtown Modern will feature two towers, each providing 30 storeys, and a podium for retail stores. Called Midtown Modern, this is the second project of the kind for the developer. The interchange station Bugis MRT will make sure the residents of this condominium get access to easy transportation. Both the Downtown and East-West lines serve this MRT station.
Besides the building itself, the project also includes 10 gardens and landscapes, each with its own theme, and other features for the enjoyment and wellbeing of residents, such as a swimming pool, tennis court, teahouse, clubhouse, and many more. Despite the background created by the pandemic, the demand for units located in the Central Business District remained high as ever, according to the statements of Ms. Sun, the research and analytics senior vice-president of Orange Tee & Tie. She added that the increased interest in units located in CBD is noticeable over the past years, as demand grew steadily. If 2018 brought the sale of 602 units, 674 units were sold in 2019, all of these being topped by the sale of 896 units last year alone. All of these units were sold in the CBD region, more precisely in Districts 1, 2, and 7.
Analyzing the sale of units in the previously mentioned region, it can be noticed that the last half of 2020 recorded significant growths. Specialists believe that investors or homebuyers realized that units located in CBD have a great potential in the long run, choosing to pump their finances in this direction. But what makes the Midtown Modern different from all the rest? Ms. Wong Siew Ying, PropNex’s head of research and content, said the selling prices of units in this project is what might place it on top of preferences. With one-bedroom units prepared to be sold around $1.1 million, such an option will easily fit in the budget of most homebuyers that are willing to spend between $1.2 and $1.5 million for such a unit. Because of this, the project may sell out quickly once it is launched.