Investing in a condo in Singapore is a smart move for several reasons, one of which is the potential for significant capital appreciation. This is primarily due to Singapore’s advantageous location as a leading global business hub and its stable economy, which create a constant demand for real estate. Over the years, the property market in Singapore has consistently shown an upward trend, particularly in prime locations where condos have seen impressive appreciation. By entering the market at the right time and holding onto their properties for an extended period, investors can reap the rewards of substantial capital gains. This is further supported by the launch of new condos, which add even more potential for appreciation. So, investing in a condo in Singapore not only provides a great living space, but it also serves as a smart financial investment.
may trigger potential en bloc salesRECENTLY SOLDPrices at The Meyerise amidst the data from the last six months, there were 3 transactions at a median above $2.1 milFreehold condo The Meyerise achieves new psf-price high Freehold condo The Meyerise is continuing its upward trajectory, as it recorded a new psf-price high in the week of Nov 29 to Dec 6. This comes just a month after another unit hit a new psf-price peak, showcasing the development’s strong resale market.In the week of Nov 29 to Dec 6, a 1,270 sq ft unit on the 24th floor was sold for $3.52 million, achieving a new price high of $2,771 psf. The new record is just 0.25% higher than the project’s previous record of $2,764 psf that was established last October when a 1,819 sq ft unit was sold for $5.03 million.Read also: Grange 1866 sets new high of $3,393 psfAdvertisementAdvertisementThe Meyerise has managed to maintain its high prices, as seen by the profit made by the sellers of the unit sold on Dec 6. They had purchased it for $2.32 million ($1,830 psf) in May 2016, and this latest sale will see them make a profit of $1.2 million over eight years. The Meyerise has seen a total of nine units change hands this year at an average of $2,405 psf.By absolute price, the most expensive unit sold this year was a 2,056 sq ft unit on the seventh floor that fetched $4.5 million ($2,189 psf) on Oct 7. However, the most impressive part of Meyerise’s resale market is that its newest unit sold for $3.52 million — $1.5 million lesser than the unit sold in October 2019. This suggests that the development has continued to record sales at consistently high prices since it began operating.The Meyerise is also conveniently located within 1km of two MRT stations, as well as near several schools, including Kong Hwa School, Tanjong Katong Primary School, Tanjong Katong Girls’ School and Tanjong Katong Secondary School. The freehold condo has a unit mix that consists of two- and three-bedroom units ranging from 872 sq ft to 1,313 sq ft, four-bedroom units ranging from 1,819 sq ft to 2,056 sq ft, and a single 5,490 sq ft penthouse unit. It is a popular choice for both families and couples, as the condo is equipped with plenty of family-friendly facilities and offers convenient access to a variety of amenities. Upcoming new launch condo in District 15Sign up for free to access more dataAre the Meyerise units selling profitably?Record rentals at MeyeriseAdvertisementAs the Meyerise steadily records transactions above $2.1 million, with its rental prices also peaking at $2,195, it has proven to be a desirable location for both young families and couples. From the most expensive unit to be sold at the development this year — a 2,056 sq ft unit that fetched $4.5 million in October — we can determine that the unit was rented out for $7,500 on June 2020, making it a very profitable investment.In addition, this data is supported by the substantial gap between the rental and selling price of all units. For example, the most expensive unit (2,056 sq ft) is being rented at $7,500, while the most expensive unit (1,819 sq ft) is being rented at only $8,000. This shows that the median of $2,195 might even be below market selling price, suggesting that investors to the Meyerise are most likely receiving a rental yield of at least 2.6%.Related stories:Prime condos in District 15 with most profitable transactionsReal Estate Suggestions in Singapore, SingaporeMy NotesMore
The Meyerise achieved a new price high of $2,771 psf when a 1,270 sq ft unit was sold for $3.52 million on Dec 6. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The Meyerise achieved a new price high of $2,771 psf when a 1,270 sq ft unit was sold for $3.52 million on Dec 6. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
Private condo along Jalan Rumbia, The Imperial, placed second in the private residential segment. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
Sky Vue is located along Bishan Street 15 in District 20. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
In the competitive world of private condos, The Meyerise managed to take the top spot among other private condos in the week of Nov 29 to Dec 6. This feat was achieved by a 1,270 sq ft, three-bedroom unit on the 24th floor sold for $3.52 million, achieving a new price peak of $2,771 psf. The new record surpassed the project’s previous price record of $2,764 psf by a minimal 0.25%. This record was set in October last year when a 1,819 sq ft, four-bedroom unit on the 28th floor was sold for $5.03 million. This shows that The Meyerise has managed to maintain its high prices despite fluctuations in the market.
The Meyerise has recorded a total of nine units changing hands this year at an average of $2,405 psf. The most expensive unit to be sold this year was a 2,056 sq ft, four-bedroom-plus-study unit on the seventh floor that fetched $4.5 million on Oct 7. The sellers of the unit that was sold on Dec 6 had purchased it for $2.32 million ($1,830 psf) in May 2016, making a profit of $1.2 million over eight years. This suggests that The Meyerise has consistently recorded sales at high prices since its completion in 2015.
The Meyerise is located on Meyer Road in prime District 15 and 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.
Tabulated by EdgeProp Buddy, here’s a summary of the price trends at The Meyerise in relation to its counterparts:
Project Unit Floor Size Sold Price Price per sq ft Purchased on Sold on Profit The Meyerise 1,270 sq ft $3.52m $2,771 2016 2020 $1.2m The Meyerise 1,819 sq ft $5.03m $2,765 2016 2019 $2.3m The Meyerise 2,056 sq ft $4.5m $2,189 2019 2020 $1.5m
Table 1: Recent transactions at The Meyerise that set a new record. (Source: URA) Unit Floor Size Average Selling Price Average Price per sq ft Average Rental Price Average Rental Price per sq ft Most profitable rental unit 1,813 sq ft $4.8m $2,646 $5,300 $3 The Meyerise 1,303 sq ft $3.1m $2,402 $5,500 $4 The Meyerise 1,012 sq ft $2.4m $2,363 $3,300 $3
Table 2: Rental and selling price data. (Source: URA)
According to the URA Caveats, there have been six resale transactions at The Meyerise this year, at an average sale price of $2,405 psf. Of these, only one transaction was recorded to have incurred a loss of slightly over $200,000. However, this is negligible as compared to the profits gained by the other five transactions, which ranged from $700,000 to slightly over $1.2 million.
Private condo The Imperial, located along Jalan Rumbia in District 9, placed second among the top projects with a new psf-price high during the review period. On Dec 5, a 1,410 sq ft, three-bedroom unit on the 14th floor was sold for $3.7 million, hitting a new price peak of $2,624 psf – a 2.3% increase from the project’s previous high of $2,566 psf in May last year. On the other hand, there were no new price lows recorded during the period of review.
Completed in 2006, The Imperial comprises of two 37-storey towers housing two- and three-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. The Imperial has recorded six resale transactions from an average selling price of $2,414 psf this year to date.
Situated along Bishan Street 15, Sky Vue clinched the third spot for private residential projects that recorded a new psf-price high. It did so when a 1,141 sq ft, three-bedroom unit on the 33rd floor was sold for $2.86 million on Dec 2, setting a new peak