In recent years, you may have seen or heard countless new launches in Singapore – be it in the north, south, east or west. But if there’s one place that will steal a property buyer’s heart for sure, it will definitely be the grand District 9, which comprises of Orchard, Somerset and River Valley precincts. This is where the new Martin Modern condo will be.
What makes Martin Modern condo so special and a project not to be missed is its excellent location in the city centre. In fact, it’s one of the rarest locations in Singapore where you will see a land sale from government taking place. The last one was in fact at Mount Sophia back in 2013, which currently sits Sophia Hills condo by Hoi Hup Realty.
The subject plot of land was, in fact, one of the most eye-catching land tenders in 2016. It drew a total of 13 bids with a top bid coming in from GuocoLand at $595.1 million (or $1,239 psf ppr), making it even more pricey than the last government land sale (GLS) at Mount Sophia.
Let’s take a look at what Martin Modern has to offer to Singapore’s property market.
Martin Modern Developer
This developer for Martin Modern needs no further introduction – seriously. Being branded as a luxury developer and one of the real estate arms of Hong Leong Group, GuocoLand is a prime real estate developer in Singapore which is very well-known for delivering some of the finest real estate projects.
If you’ve seen some of their newest projects, such as Leedon Residence and Goodwood Residence, you will totally appreciate the kind of quality which GuocoLand is capable of offering – at an unmatched value.
With the property market being subdued for the last couple of years, Sims Urban Oasis at Aljunied is, in fact, their only ongoing new launch project right now. Despite being in the suburban region, GuocoLand is not shortchanging buyers and is not compromising on the quality being offered.
Martin Modern Location
Martin Modern is perhaps most attractive in terms of its location. Being located in one of the most highly sought-after locations by expatriates, this classy condo development already has several dining and entertainment options within the Robertson Quay neighborhood.
Further down, there are established shopping malls and complexes around its vicinity, including [email protected], Orchard Central, UE Shopping Mall, Liang Court and Great World City.
Living at Martin Modern is where you will probably get the best of both worlds – living in the city centre and yet you are situated away from the hustle and bustle. Rarely you will find exclusive living and convenience blending into one.
Apart from shopping malls, however, some renowned primary schools and international schools are also located nearby. So if you are concerned about where your child will go to school, you have plenty of options at your disposal. One of the top draw and parents’ favorite will be River Valley Primary School. At Martin Modern, you are almost guaranteed an entry into one of the top primary schools in Singapore.
Other than that, the likes of Chatsworth International School, Singapore Management University, Overseas Family School and Anglo-Chinese Junior School are all pretty close as well.
In terms of connectivity, thanks to its close proximity to major arterial expressways like Ayer Rajah Expressway (AYE) and Central Expressway (CTE), residents at Martin Modern will have easier access traveling around the island. Apart from that, the condo is situated within walking distance to the upcoming Fort Canning, Great World and Somerset MRT stations, which connects you to the rest of Singapore in a jiffy!
Martin Modern Condo Facilities
If condo facilities are something you will consider when buying a home, Martin Modern is prepared to attract prospects who are looking for a wide range of amenities from a prime real estate development.
As it states, Martin Modern will have more than 80% of the land area being turned into an exclusive botanic garden with a pasture of primitive trees and vegetation – more than 200 different species of plants and over 50 different breeds of palms and trees.
Besides a swimming pool, pool spa, tennis court, clubhouse, and deck, the condo also boasts of a well-equipped gym and a BBQ facility for you to spend lazy weekends with friends and family.
As mentioned earlier in the post, if you have seen some of GuocoLand’s earlier projects, you can be sure that they will be able to offer the similar standard grade of facilities for the future residents at Martin Modern.
Martin Modern Floor Plan and Unit Types
Martin Modern consists a total of 450 units, spreading across two 30-storey residential towers.
As of now, GuocoLand has only released the following floor plans for Martin Modern. On top of that, here is the list of unit types and their estimated sizes which will be available in this development:
- 2-Bedroom (~800 sq ft)
- 2-Bedroom + Study (~880 sq ft)
- 3-Bedroom ( ~1,000 sq ft)
- 3-Bedroom + Study (~1,300 sq ft)
- 4-Bedroom (1,800 sq ft)
We will follow up with the Martin Modern floor plan. So do check out this space for updates.
Martin Modern Price
According to reports, Martin Modern price indication will be around the average of S$2,300 per square foot (psf), which means a 2-bedroom be easily in the price range of S$1.84 million. We will update more as soon as we get closer to the launch date.
Martin Modern Review
The Robertson Quay precinct has always been one of the top spots in District 9 as the perfect choice for the yuppies and those who choose affordable luxury living along with a stress-free life.
Martin Modern offers an array of attractive options for people who enjoy the outdoors, as it is located near the Singapore riverside.
The number of amenities and living concept provided at the condo is perhaps unmatched in the area. Not surprisingly, thanks to its developer GuocoLand who has successfully delivered a number of real estate projects in the past and made a name for itself as one of the most reputable developers in Singapore’s property market.
The newest developments in the area would be [email protected] Quay by City Developments Ltd – completed in 2016 and Starlight Suites by TA Corporation – completed back in 2015.
[email protected] Quay by CDL
Given the indication of an average psf price of S$2,300, it does sound kinda steep if you were to compare to the other current launch in District 9 – Sophia Hills, which is only averaging around S$1,965 psf for the past 6 months (as of 05 June 2017).
However, if you are just comparing between projects within the Robertson Quay and Martin Place precincts, you may want to put some serious consideration into Martin Modern for your next property acquisition.
As usual, we will start off our Martin Modern review with some apple-to-apple comparisons.
Martin Modern is a 99-year leasehold project, which certainly puts it at a disadvantage among some its neighbouring projects – with the majority of them being either freehold or 999-year.
The newest 99-year project in the precinct is, in fact, [email protected] Quay – a mixed hotel (M Social) & residential development by CDL. Here are some of their latest transactions:
|Contract Date||Address||Size (sq ft)||PSF Price (S$)||Total (S$)|
|20-Jan-16||92 ROBERTSON QUAY #06-08||1,119||1,985||2,222,000|
|20-Jan-16||92 ROBERTSON QUAY #07-09||570||2,652||1,513,000|
|12-Jun-13||92 ROBERTSON QUAY #05-05||753||2,856||2,152,000|
|5-Apr-13||92 ROBERTSON QUAY #05-09||570||2,638||1,505,000|
|25-Jan-13||92 ROBERTSON QUAY #04-09||721||2,011||1,450,000|
|13-Dec-12||92 ROBERTSON QUAY #08-09||570||2,363||1,348,000|
|11-Dec-12||92 ROBERTSON QUAY #07-02||463||2,761||1,278,000|
|6-Dec-12||92 ROBERTSON QUAY #06-10||570||2,351||1,341,000|
|5-Dec-12||92 ROBERTSON QUAY #08-10||570||2,363||1,348,000|
|5-Dec-12||92 ROBERTSON QUAY #09-01||463||2,772||1,283,000|
The above transactions are averaging around S$2,475 psf, which is pretty similar to the indicative price of Martin Modern. However, most of the transactions were done before the market reached its previous peak in 2013. And we all knew what happened after that.
So technically, Martin Modern is somehow pricing itself at the previous peak. Although recent market sentiments have shown signs of recovery, I doubt there will be much appreciation or capital gain in future if you were to commit at this psf price.
If you are someone who is looking at investment opportunities (not a short-term one please) in the area – which I feel is a fantastic location for owning a property, you should probably look at some of the ready or resale projects (and yes, they are all freehold).
|Project Name||Completion||Tenure||Average PSF (S$)||Price Range|
|RIVERGATE||2009||Freehold||1,948||$2.8 – $6m|
|WATERMARK ROBERTSON QUAY||2008||Freehold||1,626||$1.58 – $2.8m|
|MARTIN NO 38||2011||Freehold||2,274||$2.18m – $2.22m|
|MARTIN PLACE RESIDENCES||2011||Freehold||1,930||$2.23m – $2.7m|
**The data above is based on the last 6 months of transaction (as of 05 June 2017)
It’s no doubt that Martin Modern will still be a great development for buyers looking to purchase for own consumption and prefers a brand new condo, as it provides accessibility to the whole of Singapore through its close connection to major arterial roads and expressways.
It is no surprise that Martin Modern will appeal to the mass buyers who have the budget for District 9 properties with all the plus points in the development. It gives homeowners the epitome of luxury class living, at the same time affordable, in one of the prime districts in Singapore.
For future “protection” in terms of price appreciation, I’ll probably pass for now – unless there are some perks to help mitigate the potential risks. However if you have plenty of spare cash on hand and gains are not your priority, why not?