{"id":63296,"date":"2017-08-10T11:40:34","date_gmt":"2017-08-10T04:40:34","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-cuts-back-unit-releases-at-martin-modern\/"},"modified":"2017-08-10T11:41:17","modified_gmt":"2017-08-10T04:41:17","slug":"guocoland-cuts-back-unit-releases-at-martin-modern","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-cuts-back-unit-releases-at-martin-modern\/","title":{"rendered":"GuocoLand cuts back unit releases at Martin Modern"},"content":{"rendered":"


\nThe developer plans to increase the selling price of Martin Modern in 2018.
\nBelieving that private home prices will increase, property developer GuocoLand trimmed the number of units offered for sale at its luxury condominium Martin Modern in Martin Place, reported the Straits Times.
\nIt noted that 110 out of the 450 units at the project have already been sold about two weeks following its launch, with the average selling price ranging from $2,009 psf to more than $2,500 psf.
\nGuocoLand also revealed plans to increase the selling price in 2018.
\nSEE ALSO: Property prices to increase by up to 10%
\n\u201cWe\u2019ve already started to moderate the releases\u2026 you want to achieve a good start so there is confidence in the project, I think we already achieved that. We should not be selling too much too fast,\u201d said GuocoLand (Singapore) group managing director Cheng Hsing Yao.
\nOther developers also have the same sentiment.
\nChinese developer Qingjian Realty put off the second phase of its sales launch at mixed-use development Le Quest, while Lendlease held back on releasing new units at Park Place Residences in Paya Lebar \u2013 in the hope of offering the remaining units at higher prices.
\nWhile Cheng declined to comment on how much prices may increase next year, he acknowledged the existence of \u201cpressure for prices to go up\u201d given the aggressive bidding of developers and fewer condo completions.
\n\u201cThe margin is already quite thin among developers, and land constitutes 60 percent to 70 percent of total cost, so when the land cost goes up so much, it is not a choice for the developers not to sell higher.\u201d
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…GuocoLand cuts back unit releases at Martin Modern<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The developer plans to increase the selling price of Martin Modern in 2018. Believing that...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-63296","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-gsU","jetpack-related-posts":[{"id":52814,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-to-launch-martin-modern-in-second-half-of-2017\/","url_meta":{"origin":63296,"position":0},"title":"GuocoLand to launch Martin Modern in second half of 2017","date":"April 25, 2017","format":false,"excerpt":"\r More than 80 percent of the Martin Modern site will be turned into a botanic garden. Image source: GuocoLand Property developer GuocoLand is targeting to launch Martin Modern, a new luxury condominium in District 9, in the second half of this year. Located at the corner of Martin Place\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61680,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/90-units-at-martin-modern-sold-amounting-to-220m\/","url_meta":{"origin":63296,"position":1},"title":"90 units at Martin Modern sold amounting to $220m","date":"July 25, 2017","format":false,"excerpt":"\r First phase of Martin Modern condo sold out. (Photo: GuocoLand Singapore) The official launch of Martin Modern last weekend (22-23 July) saw close to 90 units sold at a total value of more than $220 million, said developer GuocoLand. Although more than 2,000 people visited the luxury condominium\u2019s showflat\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":60066,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-launches-first-large-scale-launch-in-robertson-quay-area-in-eight-years\/","url_meta":{"origin":63296,"position":2},"title":"GuocoLand launches first large-scale launch in Robertson Quay area in eight years","date":"July 7, 2017","format":false,"excerpt":"\r Landscaping, gardens and pools will utilise 80 percent of the 1.6-ha site. Source: GuocoLand Developer GuocoLand is launching luxury project Martin Modern on 22 July. The development is the first major condominium launch in the last eight years in the Robertson Quay area. Nearby amenities include the upcoming Great\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111050,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-tales-at-recent-condo-launches\/","url_meta":{"origin":63296,"position":3},"title":"Two tales at recent condo launches","date":"September 25, 2019","format":false,"excerpt":"\r Despite the slim profit margin, the developers of Cuscaden Reserve and The Antares probably deemed it better to launch the projects now considering the significant supply.\u00a0However, both GuocoLand and Low Keng Huat had enough room to price their projects more attractively and sell more units at launch.\u00a0 Four new\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63696,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-and-developers-turn-attention-to-river-valley\/","url_meta":{"origin":63296,"position":4},"title":"Buyers and developers turn attention to River Valley","date":"August 15, 2017","format":false,"excerpt":"\r View of high-end apartments in Robertson Quay. (Photo: Christopher Chitty) Move over Marina Bay and Sentosa Cove because there is a growing number of luxury home buyers in Singapore who are turning their attention to the River Valley area in District 9, particularly the Robertson Quay stretch. Already an\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110501,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-to-preview-meyer-mansion-this-saturday\/","url_meta":{"origin":63296,"position":5},"title":"GuocoLand to preview Meyer Mansion this Saturday","date":"September 5, 2019","format":false,"excerpt":"\r The latest edition of GuocoLand\u2019s collection of luxury residential properties in prime districts, Meyer Mansion follows the success of projects such as Leedon Residence, Goodwood Residence, Martin Modern and Wallich Residence. Meyer Mansion, GuocoLand\u2019s freehold seafront residential development at Meyer Road, will be opened for preview this Saturday (7\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/63296"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=63296"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/63296\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=63296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=63296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=63296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}