The launch of Mayfair Modern will be an exclusive private event at the sales gallery. Registration is required. The event will begin with a sharing by DP Architects, before the release of price and booking.
Are you aware that there will 2 new launches very close to Mayfair Modern? The new developments will be Former Royalville and Fourth Avenue Residences by Allgreen Properties Limited. Former Royalville is sitting on a Freehold land tenure, while Fourth Avenue Residences is a Government Land Sales, 99 years leasehold tenure.
Former Royalville, within a short distance walk to Sixth Avenue MRT, was enbloc successfully in 2017. Base on the enbloc price, indicative construction and other costs, the estimated breakeven price for this development will be $2581psf.
With an estimated of 20% developer profit, launch price will be around the range of $3100psf onwards.
Fourth Avenue Residences
Selling at an estimated average $2400psf, Fourth Avenue Residences was launched at the beginning of 2019, achieving 80 units of sale till date. Based on statistics, more of the 2 bedrooms premium units were sold.
The above shows the successful land sales bid for Fourth Avenue Residences, and the estimated breakeven price at $2101 psf. Base on the current sale price at $2400psf, developer estimated profit is about 14% above the estimated land sales price.
Therefore, our estimation for Former Royalville should be a good indicative.
Is Mayfair Modern Launch Price Realistic?
Considering the current launch price of Fourth Avenue Residences, and the estimated launch price of Former Royalville, Mayfair Modern launch price will be at least $400psf lower than Fourth Avenue Residences, and much lower as compared to Former Royalville.
Although both are of different districts, will you as a buyer pay $400 psf more for this property? Mayfair Modern is nearer to primary schools, while Fourth Avenue Residences will be closer to tertiary institutions. In terms of MRT and amentities, based on my opinion I would say they are very much similar.