The Model for City Living
The private residential market in Singapore saw continued growth in 2021 despite the on-going pandemic. Developers sold 1,296 new private homes in March this year. The number of transactions in the most expensive region (the Core Central Region or CCR) was 546 units, an eight-year high figure, and accounted for 42.1% of all new home sales for the month.
About 85.5% of the 4,111 new private residential homes1 in the first quarter of 2021 were purchased by Singaporeans. There is a high probability that most of them are first-time buyers, considering Singaporeans buying their second residential property will incur 12% additional buyers’ stamp duty (ABSD), while Singapore Permanent Residents will incur an ABSD of 15%.
Given the low interest-rate environment, people are attracted to the appreciation potential of Singapore residential properties. A report released by property firm Knight Frank in March ranked Singapore as the top Asia territory of choice for Asians looking to buy a new investment home. Singapore’s management of the pandemic has been further highlighted as an appealing factor for property investment decisions.
The population of Asian high-net wealth individuals has been trending upwards. In 2020, the number of tycoons in Asia Pacific with net wealth exceeding US$30 million jumped by 10.2 per cent, totalling 3,732. This growth facilitates continued demand for high-end luxury homes as the new rich are drawn to Singapore. The demand from Singapore and foreigners who build their wealth in the new economy will set new price benchmarks of luxury apartments in the Central Business District (CBD). During the launch of GuocoLand’s Midtown Modern in March, a 5-bedroom, 3250 sq ft penthouse was sold for a whopping S$14.83 million.
District 7: The new hotspot for luxury living
Projects in the central region are expected to be increasingly popular in 2021. The PropertyGuru Q1 Property Market Index report highlighted Districts 2 and 7 as places to watch this year.
According to PropertyGuru, having access to amenities within and around a project is proving more important than ever. The accessibility of nearby amenities such as shopping centres, supermarkets and fitness facilities was most popular amongst buyers in 2020 and 2021. Additionally, more buyers placed a greater preference to properties closer to parks or greenery, allowing them to balance the sedentary nature of working from home.
The demand for luxury apartments is expected to grow as the CBD will continue to be a magnet for talent and high-net-worth individuals. José Antonio Ondiviela, PhD, author of WorldWide Observatory for Attractive Cities, studied 140 most attractive cities in the world using dozens of indicators. He found that talented residents of a city are attracted to its identity (past), its dynamism (present), and its future strategy while considering its services, high level of well-being and development opportunities for the city and themselves.
In Singapore, the Beach Road-Bugis district has attracted many multinational companies including Rabobank, Lego, Abbott Laboratories, Mastercard, Chevron, and Tableau, to set up their regional headquarters. GuocoLand’s upcoming Guoco Midtown is set to reposition and transform the neighbourhood into a new vibrant hub.
Midtown Modern: A “Nature in the City” for families
Midtown Modern, the luxury development newly launched by GuocoLand, will provide a level of well-being that talented citizens and high-net-worth individuals are looking for. Adopting a “Nature in the City” concept, Midtown Modern is the only condominium in the CBD with full facilities and more than 1 hectare of gardens and landscape areas. Several of the thematic gardens are designed to recreate the seasonal ambience of Spring, Summer and Autumn. The project is highly suited for entrepreneurs, knowledge workers and forward-thinking individuals and families.
Unlike other developments in the CBD, Midtown Modern is one of the first developments in the CBD that is conceptualised for family living. Ms Dora Chng, General Manager (Residential) of GuocoLand, said, “Many projects in the CBD are targeted at the business community or investment buyers who seek rental returns. With the direct connection to Bugis MRT interchange station, Midtown Modern is just a train ride away from top schools, tertiary institutions and job clusters. In addition, the facilities, services as well as the amenities nearby adds to the attractiveness of living at the heart of the city.”
True Luxury Living with Space in the CBD
Given its family-centric concept, Midtown Modern is one of the few developments in District 7 that offer new four-bedroom units. Besides Midtown Modern, there are only 35 four-bedroom units at South Beach Residences and 34 four-bedroom units at Duo Residences, all of which are sold.
According to URA REALIS, the number of four-bedroom units transacted in the Central Area (Core CBD) has been growing over time. The pace of growth is expected to hasten, as more high-net-worth individuals are drawn to the four-bedroom units due to the new normal of working-from-home.
Prices of four-bedroom units have appreciated due to strong demand. The limited supply of four-bedroom units among newer developments in District 7 and the rest of the CBD makes the prices of four-bedroom units resilient against economic shocks. Mr Alan Cheong, Executive Director of Research & Consultancy of Savills Singapore, said, “Well-heeled individuals both local and overseas prefer the Core Central Region because they are familiar with the area and they feel that they can access the rest of the island easily since transport infrastructure ultimately fan out to the rest of the island for work, school, food and play from here.”
Midtown Modern offers two types of four-bedroom designs. The 1,808 sqft premium unit is designed with residents in mind, focussing on comfort and practicality. The squarish layout is efficient, and the generous amount of liveable space offered by these units make them ideal for families. There are also four-bedroom units ranging from 1,442 to 1,464 sqft.
The bedrooms are all regular shaped, with a well-sized Master Bedroom (15.2 sq m) which can easily fit a King-sized bed and a dresser. Some units’ Master Bedrooms also come with a balcony for residents to relax in their private sanctuary.
All four-bedroom units feature a private lift, a rarity in itself. Unlike other developments, there is no long entryway, and the private lift lobby affords residents additional exclusivity and privacy.
The living and dining room of the four-bedroom unit is spacious and can fit a ten-seater dining set comfortably. This will appeal to families who enjoy hosting guests. The flooring in the living and dining room is patterned, natural marble and provides a classy, luxurious setting. The balcony, that extends from the living room, is rectangular and can accommodate an additional alfresco dining area.
A dry kitchen that comes with a wine chiller, wine racks and a sink, is perfect when it comes to entertaining friends. Separately, an enclosed kitchen provide home owners with two sides of countertop space, one induction cooker and three gas hobs for heavy cooking.
The timeless design of Midtown Modern and its overall theme is aligned with the future megatrends that are transforming the city. It represents the future of urban living for high-net-worth individuals and professional talent. The development’s human-centric and sustainable concepts will be the model for future developments.
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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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