The Meyerise hits new psf-price high of $2,771 psf

Freehold condo The Meyerise took the top spot among the private condos that saw a new psf-price high in the week of Nov 29 to Dec 6.

On Dec 6, a 1,270 sq ft, three-bedroom unit on the 24th floor was sold for $3.52 million, achieving a new price peak of $2,771 psf.

The new record is just 0.25% higher than the project’s previous record of $2,764 psf. The former record was established last October when a 1,819 sq ft, four-bedroom unit on the 28th floor was sold for about $5.03 million.

The Meyerise achieved a new price peak of $2,771 psf when a 1,270 sq ft unit was sold for $3.52 million. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

The sellers of the unit sold on Dec 6 had purchased it for about $2.32 million ($1,830 psf) in May 2016. Therefore, they made a profit of about $1.2 million over eight years.

The Meyerise has seen nine units change hands this year at an average price of $2,405 psf. By absolute price, the most expensive unit to sell at the development this year was a 2,056 sq ft, four-bedroom-plus-study unit on the seventh floor. It sold for $4.5 million ($2,189 psf) on Oct 7.

Completed in 2015, The Meyerise is a 239-unit freehold condo. Located on Meyer Road in prime District 15, the development consists of twin 31-storey residential towers housing two- and three-bedroom units ranging between 872 sq ft and 1,313 sq ft, four-bedroom units ranging between 1,819 sq ft and 2,056 sq ft, and a single 5,490 sq ft penthouse unit.

The Meyerise is within 1km of two MRT stations; Tanjong Katong MRT Station and Katong Park MRT Station, both serving the Thomson-East Coast Line. Several schools are located within 2km of the condo, including Kong Hwa School, Tanjong Katong Primary School, Tanjong Katong Girls’ School and Tanjong Katong Secondary School.

The Imperial is a 187-unit freehold condo located along Jalan Rumbia in prime District 9. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

Freehold condo The Imperial placed second among projects that recorded new psf-price highs during the week in review. On Dec 5, a 1,410 sq ft, three-bedroom unit on the 14th floor was sold for $3.7 million, hitting a new top price of $2,624 psf.

The transaction exceeds the project’s previous price high of $2,566 psf by 2.3%. The former record was set in May last year when a 1,356 sq ft, three-bedroom unit on the 12th floor was sold for $3.48 million.

According to URA caveats, the unit sold on Dec 5 last changed hands in September 2004 when it was purchased for about $1.3 million, or $925 psf. Thus, the sellers made a profit of about $2.4 million.

The last 10 resale transactions at The Imperial, tabulated by EdgeProp Buddy. (Source: URA, EdgeProp Singapore)

The Imperial has recorded six resale transactions this year to date at an average price of $2,414 psf. Prior to the Dec 5 transaction, the unit to last change hands at The Imperial was a 1,905 sq ft, four-bedroom unit on the fifth floor that sold for about $4.6 million, or $2,421 psf, on Nov 28.

The Imperial is a 187-unit freehold condo located along Jalan Rumbia in prime District 9. Completed in 2006, the development has a unit mix comprised of two-bedroom units from 980 sq ft to 1,012 sq ft, three-bedroom units from 1,356 sq ft to 1,991 sq ft, and four-bedroom units from 2,034 sq ft to 3,552 sq ft.

Completed in 2016, the 694-unit Sky Vue is located along Bishan Street 15 in District 20. (Photo: Samuel Isaac Chua / EdgeProp Singapore)

Sky Vue came in third during the review period when it recorded a new psf-price high of $2,505 psf. The new high was achieved when a 1,141 sq ft, three-bedroom unit on the 33rd floor fetched about $2.86 million on Dec 2.

The sellers of the unit had purchased it for $1.86 million, or $1,630 psf, in September 2020. Thus, they made a profit of about $1 million.

The new psf-price peak is 5.9% more than the previous record of $2,366 psf. The old record was set in August when a similar 1,141 sq ft, three-bedroom unit on the 14th floor was sold for $2.7 million.

Completed in 2016, the 694-unit Sky Vue is located along Bishan Street 15 in District 20. The 99-year leasehold condo comprises two 37-storey towers with one- to three-bedroom units occupying spaces between 484 sq ft and 1,259 sq ft.

The condo is within walking distance of Bishan MRT Interchange, which serves the North-South and Circle Lines. The station is located directly across from Bishan Bus Interchange and connected to Junction 8 mall along Bishan Place, which offers an assortment of retail and dining outlets.

There were no new psf-price lows recorded during the period of review.

Check out the latest listings for The Meyerise properties