Overview Rating
Overall, Midtown Modern presents a compelling investment opportunity with its prime location, well-designed facilities, and proximity to amenities. Its versatility in catering to modern households’ changing needs also adds value to the property.
Tenure
Midtown Modern is sold under a leasehold tenure of 99 years, which may be less attractive to some buyers compared to freehold properties. However, given its prime location and well-designed facilities, it still presents a good investment opportunity.
Amenities
Midtown Modern is located in District 7, which is a highly convenient area with many amenities within walking distance. The Bugis MRT station is right at the doorstep of the development, providing easy access to other parts of Singapore. There are also plenty of options for shopping and dining nearby.
Future Development
According to URA’s Master Plan, District 7 will undergo further development with plans for new mixed-use developments, public spaces and infrastructure improvements. This bodes well for the appreciation of Midtown Modern’s value over time.
Sale PSF Price
The average PSF price for Midtown Modern ranges from $2,081 to $4,358 depending on the unit type and size. This falls within the range of condos in the Rest of Central Region (RCR), which have an average PSF price of around $2,294. While this may be considered high by some buyers, it is justifiable given the premium facilities and location.
Resale Potential
Midtown Modern’s prime location in District 7 and proximity to various amenities make it highly attractive for resale potential. Additionally, being part of Guoco Midtown community adds value to the property.
Rental Yield
Given its central location and proximity to public transport options, Midtown Modern has good potential for rental yield. The average rental yield in Singapore is approximately 3%, and based on current market conditions and demand in this area, there may be room for higher yields.
Midtown Modern is a 99-year leasehold mixed-use development located at 16-20 Tan Quee Lan Street, in the Downtown Core planning area of Singapore. Jointly developed by GuocoLand, Hong Leong Holdings, and Hong Realty, the development comprises three towers with a total of 558 units, ranging from one- to four-bedroom apartments and penthouses. Midtown Modern is also complemented by premium offices for lease, three retail villages, and over 20 concept gardens.
Location: Midtown Modern’s location benefits from excellent connectivity to public transportation. The development has direct access to Bugis MRT station and is only 13 minutes’ walk from Promenade MRT station on the Circle Line. City Hall MRT station is also nearby via Bugis MRT station. Residents can enjoy easy access to major expressways such as the ECP and KPE. Midtown Modern’s central location provides easy access to amenities like shopping malls (Bugis Junction, Suntec City), supermarkets (FairPrice Xtra at South Beach) as well as cultural institutions like National Gallery Singapore.
Units: The units at Midtown Modern are thoughtfully designed with practicality and aesthetics in mind. The interiors feature a mix of porcelain, granite, timber finishes that exude class and quality. The layout of the units prioritizes privacy with master bedrooms situated at opposite corners of the unit while fulfilling various lifestyle needs such as flexible spaces that can accommodate furniture beyond typical living room essentials.
Price: With prices ranging from $2,081 to $4,358 psf depending on unit size and configuration, Midtown Modern’s pricing represents a premium offering for its prime location and high-quality finishes. However, given its proximity to various amenities like schools, hospitals or cultural attractions it presents itself as an attractive investment opportunity for both homebuyers looking for convenience or investors who seek long-term growth potential within this vibrant district.
Conclusion: Midtown Modern presents a well-executed mixed-use development that offers residents the convenience of a central location, quality finishes, and access to a wide range of amenities. The thoughtful unit layouts are designed to accommodate different lifestyles and preferences, making it an attractive option for both homebuyers and investors. While the pricing may be on the higher side, Midtown Modern’s potential for growth makes it a viable investment opportunity that is worth considering.
