The Connectivity Premium
Throughout history, commercial and residential areas in the centre of the city attracted the highest real estate prices. Many businesses and high net worth individuals favoured these areas due to one main reason – accessibility. Prominent economist Johann Heinrich von Thunen explained it as such: "If we investigate the reasons why the site rent increases steadily toward the centre of the city, we shall find it in the labour saving, the greater convenience and the reduction of the loss of time in connection with the pursuit of business". In short, people prefer to stay nearer their workplaces so that they can better optimise their time.
Staying in an accessible area allows young professionals to conveniently enjoy nearby amenities such as dining and other entertainment. It is therefore no surprise that developments such as Midtown Bay (one of two residential components of the mega integrated mixed-use development Guoco Midtown in Beach Road-Bugis) has been well received.
Midtown Modern, the only upcoming project with direct interchange station access within the CBD
In 2021, Midtown Modern (the other residential component of Guoco Midtown) is the only upcoming project that has direct access to an interchange station and is within the CBD, making it an appealing choice for both, investors and buyers. Located at Tan Quee Lan Street, Midtown Modern sits directly atop Bugis MRT station interchange which is served by both the East-West Line and the Downtown Line.
Guoco Midtown is set to be a lifestyle hub with facilities and amenities aimed at the young and chic. There will be underground and overhead pedestrian networks that take pedestrians to Suntec City and other shopping malls in under 10 minutes. It is also close to the shophouse enclave at Liang Seah Street and within a short walking distance to Kampong Glam. The area is buzzing with activity with its proximity to iconic monuments and destinations of interest.
The Guoco Midtown project is set to be the centre of innovative business and lifestyle concepts and redefine the vicinity into an exciting confluence of business, lifestyle culture and heritage. Within the development, there is a 5-storey Network Hub building, a first-of-its-kind purpose-built business and social networking club. Despite the buzz, residents can also find tranquillity in the greenery within the development. The development is built around biophilia and, including those found at Midtown Modern, has 30 thematic gardens and public spaces.
Easy access to MRT stations continues to be in strong demand in spite of the pandemic’s impact on our ways of life
Researchers from the National University of Singapore1 found the opening of the new Circle Line raised the value of homes that are at most 400m away from MRT station by approximately 8.6%. Interestingly, the same study further showed that properties near interchange stations have an additional 4% premium in price. These properties appeal most to young professionals that prefer accessibility. According to a survey by CBRE in 2015, the top five concerns when taking a new job are commuting time and office location.
PropertyGuru, in its H1 2020 Consumer Sentiment survey also found that 89% of its respondents cited future MRT lines as critical considerations for future property purchases. Of the upcoming MRT lines, the Thomson-East Coast Line (TEL) is one of the most highly anticipated. The TEL will bring residents in the east and along the North-South Corridor closer to a train station and hence faster access to the City. It will significantly enhance the appeal of upcoming developments such as Meyer Mansion in District 15, which is a freehold seafront development by GuocoLand.
Besides being in close proximity to East Coast Park and reputable educational institutions, the development is located within a short walk to the upcoming Katong Park MRT Station and Tanjong Katong MRT Station. With the TEL, traveling from Marine Parade to Shenton Way will be 20 minutes quicker than by bus, according to the Land Transport Authority. Traveling to Orchard will take 30 minutes less than traveling by bus.
Updates to Singapore’s MRT network continue to benefit close-by developments
Martin Modern is another development that will benefit from the upcoming TEL. The development is within walking distance to the central Orchard Road shopping belt as well as the Robertson Quay and Clarke Quay areas which provide exciting nightlife and entertainment. It is also well connected to the rest of Singapore via roads, walking paths, and river taxi services.
When the new Great World City station is operational, it will further enhance the connectivity of Martin Modern. Residents can travel to Shenton Way in approximately 10 minutes (assuming it takes about two and a half minutes to travel between stations2). Surveys and studies suggest that prices of private homes that are proximate to MRT stations tend to resist downward pressure from shocks. This price resilience is one of the main draws to home buyers.
Connectivity to greenery, lifestyle and retail
The concept of connectivity of a place is not limited to accessibility to public transportation. It also includes the connectivity between people and the proximity to greenery, lifestyle and retail amenities. Employment clusters and areas with strong cultural identity appeal to buyers, tenants and investors alike.
These attributes are consistent in most top projects in gateway cities worldwide. For instance, in New York City, 220 Central Park South, a leading luxury project overseeing Central Park, continued to see sales amid the pandemic. The project is within walking distance to many workplaces, is located in a central district and is close to public transportation.
In Singapore, Guoco Tower is another prime example of connectivity with community. The development, which was awarded the 2019 Urban Land Institute (ULI) Global awards for excellence, was designed with users in mind and with a strong focus on building a place that the community feels connected to. About 150,000 sq ft was set aside for the Urban Park, which includes the 30,000 sq ft City Room. It is sheltered with a 16-metre high glass canopy that comes with in-built sound and lighting systems and can accommodate up to 2,000 people.
Additionally, GuocoLand is supportive of the Live-Work-Play Concept through a series of events programming at the Urban Park. The events focus on three core pillars – fitness, music and play, and these have created opportunities for people to connect and engage.
Developments with high connectivity are set to enjoy continued demand
Developments with high connectivity, defined as easy access to workplaces, communities and amenities continue to be in high demand. Being close to everything and the availability of space to engage, entertain and be entertained enables people to utilise their time better and have a higher quality of life. According to H2 2020 Consumer Sentiment Survey by PropertyGuru, about 61% of respondents said that proximity to food and beverage outlets and shopping malls are more important to them following the break out of COVID-19.
Offices of highly connected integrated developments particularly appeal to multinational companies, especially those in the forefront of the technology sector. This is because the accessibility and connectivity enable them to accommodate flexible work arrangements, that appeal to the creative workers of the future. A project with excellent connectivity and accessibility will be the best hedge against future disruption and uncertainty and a guarantee for future capital appreciation in the long run.
1 Mi Diao, Delon Leonard, Tien Foo Sing, Spatial-difference-in-differences models for impact of new mass rapid transit line on private housing values, Regional Science and Urban Economics, Volume 67, 2017, Pages 64-77
2 The time take to travel between two stations is assumed to be 2 and half minutes, derived from the examples LTA provided.
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- Wallich Residence
- Martin Modern
- Meyer Mansion
- Midtown Bay
- Midtown Modern
SINGAPORE’S TALLEST ADDRESS
181 LUXURIOUS HOMES WITH UNPARALLELED VIEWS
Project Name:
Wallich Residence
Project Type:
Condominium
Project Address:
3 Wallich Street, Singapore (078882) / District 01.
Tenure:
Leasehold up to 99 years
Completion Year:
2017
KEY FEATURES
- Guoco Tower is a unique 5-in-1 integrated landmark development located in the heart of Singapore’s Central Business District, linked to and atop Tanjong Pagar MRT station.
- It integrates Grade A office space, 181 prestigious homes at Wallich Residence, dedicated retail and F&B space, a five-star business hotel designed for privileged experiences, and Singapore’s first double storey urban park.
- Inspired by Mr. Nathaniel Wallich, whose passion for botany led to the creation of Singapore’s first-ever Botanical and Experimental Garden at Fort Canning
- Wallich Residence is situated at the top of Singapore’s tallest building, starting from level 39 / 180m above sea level to level 64 / 290m above sea level
- Four levels of generous recreational facilities – including glass observation AirDecks at the Apex located on level 62 which offer a sweeping view from the city’s highest point
- Unit ranges from 1, 2, 3, 4 Bedroom, penthouses and one and only Super Penthouse
- Concierge services designed for privileged luxury
- A 150,000 sq ft Urban Park and a unique 30,000 sq ft City Room A vibrant hub for events and activities
LUXE BOTANICAL GARDEN HOME IN DISTRICT 9
Project Name:
Martin Modern
Project Type:
Condominium
Project Address:
8 Martin Place, Singapore (237992) / District 09 Junction Of Martin Place And River Valley Close, Orchard / River Valley,
Tenure:
Leasehold up to 99 years
Completion Year:
2022
KEY FEATURES
- 99 Years, District 9, A Home within a Botanical Garden
- Sprawling 1.6-ha land
- Luxurious amenities including a Secret Garden
- Walking Distance to Great World, Somerset and Fort Canning MRT
- Within close proximity to lifestyle amenities such as Robertson Quay, Orchard Road and Clarke Quay
- Within close proximity to established schools such as River Valley Primary School, School of the Arts and Singapore Management University
- Attractively priced 2, 3 and 4 bedroom units
THE FUTURE OF CITY LIVING
A collection of luxury homes at Guoco Midtown
Project Name:
Midtown Bay
Project Type:
Condominium
Project Address:
122 Beach Road, Singapore (189768) / District 07
Tenure:
Leasehold up to 99 years
Completion Year:
2022
KEY FEATURES
- Part of a mixed-use development Guoco Midtown that comprises premium Grade A office space, exclusive residences, public and retail spaces and the former Beach Road Police Station, a conserved building.
- Located within Central Business District, at the intersection of two key development corridors along Beach Road and Ophir-Rochor Road.
- Served by four MRT lines and Nicoll Highway, as well as the North-South Expressway in the future.
- It will rejuvenate the Beach Road by being the final critical piece of jigsaw that completes the transformation of the precinct.
- It will introduce a new way of luxury city living in response to the growing trend of live, work and socializing.
- Residents will have direct access to Midtown Hub -an exclusive urban social club that incorporates the best of business and leisure, it is a place to connect like-minded people to create opportunities for collaboration, and ideas to thrive.
THE SEASIDE ADDRESS FOR THE DISCERNING
Project Name:
Meyer Mansion
Project Type:
Condominium
Project Address:
79 Meyer Rd, Singapore (437906) / District 15
Tenure:
Freehold
Completion Year:
2024
KEY FEATURES
- The esteemed name of Meyer Road carries the prestige of a prime seafront residential district, where many affluent businessmen once built their holiday mansions along the coast in the 1800s. Today the Meyer Road address represents the most prime and coveted estate in the East Coast of Singapore and new freehold projects here are extremely rare.
- Inspired by the seafront mansions, 80% of the entire development will be devoted to landscaping and amenities.
- Through deliberate and careful design, Meyer Mansion’s vantage is elevated with floor to ceiling windows to maximise the stunning unblocked views of the sea and the surrounding landed enclave.
- There are 8 unique layout types, designed to capture the best views and to suit different demographic and lifestyle needs. Each layout has only 25 units.
- All units are thoughtfully designed to be efficient, functional and provide flexibility for adapting one of the bedrooms into multiple functions.
- About 80% of the entire development will be devoted to landscaping and amenities.
- Its strategic location gives you quick and easy access to major expressways such as ECP and MCE, which can get you to the city or the airport in less than 10 minutes.
- When the Thomson-East Coast MRT line’s target completion in 2023, the Katong Park MRT station will be just 6 minutes’ walk away, which will be directly connected to the Gardens By The Bay, Marina Bay and Orchard MRT stations.
NATURE IN THE CITY
Project Name:
Midtown Modern
Project Type:
Condominium
Project Address:
16, 18 and 20 Tan Quee Lan Street
Tenure:
Leasehold up to 99 years
Completion Year:
2026
KEY FEATURES
- A luxury residential project at the mega integrated development Guoco Midtown, a world class integrated development in the heart of CBD.
- Located directly above the Bugis MRT interchange station, Midtown Modern offers residents super-connectivity at their doorstep. They will enjoy the convenience of having direct access to both the East-West and Downtown Lines.
- Through Guoco Midtown’s network of underpasses and sheltered walkways, residents can have uninterrupted access to many shopping malls, offices, and two other MRT lines, namely the North-South and Circle Lines.
- Midtown Modern's twin towers are strategically orientated to maximise the views towards the magnificent scenery all around, including Marina Bay, Raffles Place, Orchard Road and Kallang Basin.
- With 558 units, full condo facilities amidst a lush natural setting, as well as concierge and networking amenities, Midtown Modern is perfect for family living in the city.
- Crafted by the same team that created Martin Modern, including four-time President's Design Award winner master architect Yip Yuen Hong of ipli Architects and project architect ADDP Architects; and landscape architect Chia Jui Siang, now a Partner of Ortus Design.
SINGAPORE’S TALLEST ADDRESS
181 LUXURIOUS HOMES WITH UNPARALLELED VIEWS
Project Name:
Wallich Residence
Project Type:
Condominium
Project Address:
3 Wallich Street, Singapore (078882) / District 01.
Tenure:
Leasehold up to 99 years
Completion Year:
2017
KEY FEATURES
- Located at the heart of Tanjong Pagar district and close proximity to the future Greater Southern Waterfront
- Within minutes to prominent cultural and lifestyle areas
- Inspired by Mr. Nathaniel Wallich, whose passion for botany led to the creation of Singapore’s first-ever Botanical and Experimental Garden at Fort Canning
- Wallich Residence sits at the pinnacle of Singapore tallest building, Tanjong Pagar Centre which is designed by world-renowned architects - Skidmore, Owings & Merrill
- Located from 39th to 64th floor, Wallich Residence is Singapore’s tallest residential development
- 181 exclusive residences consisting of 1 – 4 bedroom, units, four Penthouses and one Super Penthouse
- Four levels of generous recreational facilities – including a stunning infinity pool at level 39 / 180m and a glass observation AirDeck at Apex which offers a sweeping view from the city’s highest point
- Signature Wallich Concierge Service catered to the needs of residents
- A 150,000 sq ft Urban Park and a unique 32,000 sq ft City Room, a vibrant hub for events and activities
LUXE BOTANICAL GARDEN HOME IN DISTRICT 9
Project Name:
Martin Modern
Project Type:
Condominium
Project Address:
8 Martin Place, Singapore (237992) / District 09 Junction Of Martin Place And River Valley Close, Orchard / River Valley,
Tenure:
Leasehold up to 99 years
Completion Year:
2022
KEY FEATURES
- 99 Years, District 9, A Home within a Botanical Garden
- Sprawling 1.6-ha land
- Luxurious amenities including a Secret Garden
- Walking Distance to Great World, Somerset and Fort Canning MRT
- Within close proximity to lifestyle amenities such as Robertson Quay, Orchard Road and Clarke Quay
- Within close proximity to established schools such as River Valley Primary School, School of the Arts and Singapore Management University
- Attractively priced 2, 3 and 4 bedroom units
THE SEASIDE ADDRESS FOR THE DISCERNING
Project Name:
Meyer Mansion
Project Type:
Condominium
Project Address:
79 Meyer Rd, Singapore (437906) / District 15
Tenure:
Freehold
Completion Year:
2024
KEY FEATURES
- The esteemed name of Meyer Road carries the prestige of a prime seafront residential district, where many affluent businessmen once built their holiday mansions along the coast in the 1800s. Today the Meyer Road address represents the most prime and coveted estate in the East Coast of Singapore and new freehold projects here are extremely rare.
- Inspired by the seafront mansions, 80% of the entire development will be devoted to landscaping and amenities.
- Through deliberate and careful design, Meyer Mansion’s vantage is elevated with floor to ceiling windows to maximise the stunning unblocked views of the sea and the surrounding landed enclave.
- There are 8 unique layout types, designed to capture the best views and to suit different demographic and lifestyle needs. Each layout has only 25 units.
- All units are thoughtfully designed to be efficient, functional and provide flexibility for adapting one of the bedrooms into multiple functions.
- About 80% of the entire development will be devoted to landscaping and amenities.
- Its strategic location gives you quick and easy access to major expressways such as ECP and MCE, which can get you to the city or the airport in less than 10 minutes.
- When the Thomson-East Coast MRT line’s target completion in 2023, the Katong Park MRT station will be just 6 minutes’ walk away, which will be directly connected to the Gardens By The Bay, Marina Bay and Orchard MRT stations.
THE FUTURE OF CITY LIVING
A collection of luxury homes at Guoco Midtown
Project Name:
Midtown Bay
Project Type:
Condominium
Project Address:
122 Beach Road, Singapore (189768) / District 07
Tenure:
Leasehold up to 99 years
Completion Year:
2022
KEY FEATURES
- Part of a mixed-use development Guoco Midtown that comprises premium Grade A office space, exclusive residences, public and retail spaces and the former Beach Road Police Station, a conserved building.
- Located within Central Business District, at the intersection of two key development corridors along Beach Road and Ophir-Rochor Road.
- Served by four MRT lines and Nicoll Highway, as well as the North-South Expressway in the future.
- It will rejuvenate the Beach Road by being the final critical piece of jigsaw that completes the transformation of the precinct.
- It will introduce a new way of luxury city living in response to the growing trend of live, work and socializing.
- Residents will have direct access to Midtown Hub -an exclusive urban social club that incorporates the best of business and leisure, it is a place to connect like-minded people to create opportunities for collaboration, and ideas to thrive.
NATURE IN THE CITY
Project Name:
Midtown Modern
Project Type:
Condominium
Project Address:
16, 18 and 20 Tan Quee Lan Street
Tenure:
Leasehold up to 99 years
Completion Year:
2026
KEY FEATURES
- A luxury residential project at the mega integrated development Guoco Midtown, a world class integrated development in the heart of CBD.
- Located directly above the Bugis MRT interchange station, Midtown Modern offers residents super-connectivity at their doorstep. They will enjoy the convenience of having direct access to both the East-West and Downtown Lines.
- Through Guoco Midtown’s network of underpasses and sheltered walkways, residents can have uninterrupted access to many shopping malls, offices, and two other MRT lines, namely the North-South and Circle Lines.
- Midtown Modern's twin towers are strategically orientated to maximise the views towards the magnificent scenery all around, including Marina Bay, Raffles Place, Orchard Road and Kallang Basin.
- With 558 units, full condo facilities amidst a lush natural setting, as well as concierge and networking amenities, Midtown Modern is perfect for family living in the city.
- Crafted by the same team that created Martin Modern, including four-time President's Design Award winner master architect Yip Yuen Hong of ipli Architects and project architect ADDP Architects; and landscape architect Chia Jui Siang, now a Partner of Ortus Design.
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