The official launch of GuocoLand’s Martin Modern at Martin Place on 22 July 2017 sold close to 90 units at a total value of more than $220 million. The initial plan was to only launch 50 to 60 units of the various unit types, but due to the overwhelming response, more units were released.
More than 2,000 visitors visited the GuocoLand‘s latest high-end luxury condominium’s show gallery during its first weekend preview on 8 and 9 July, the sales result was better than expected with all first phase released unit being snapped up.
The 450 unit development consist of two to four bedrooms. Unit size ranges from 764 sqft to 1798 sqft. The bigger apartments come with private lift. The average size of the units in Martin Modern is about 1000 sqft. The unit sizes are on the larger size as compared to all the recent new launches.
The units sold during the launch were priced from $1.75 million all the way to $4.55 million, or from $2,009 psf to over $2,500 psf. The released prices were slightly lower than expected and hence the positive sales response. The initial indicative given by the developer was from $2300 psf. Buyers who purchased on the launch day enjoyed at least 5% ADDITIONAL discount! Loyalty customers of GuocoLand were given an additional 1% discount for their purchase.
“The response is fantastic as this is a high-end project and each unit is relatively big-ticket,” said Cheng Hsing Yao, Group Managing Director at GuocoLand Singapore.
The sales results have been very encouraging as more than 70 percent of the sold units were the bigger apartments and 80 percent of the buyers were Singaporeans with higher income. Bulk of the purchasers we understood were buying for the own stay in the future given its very unique botanical garden concept.
Martin Modern located at Robertson Quay, in the River Valley (District 09) area sits on a huge 171,535 sqft land. 80% of the land area will be kept for landscaping and greenery.
District 09 is undergoing a massive transformation and revitalisation with two upcoming MRT stations, Great World and Fort Canning, both different MRT lines that will bring you to different parts of Singapore.