Meyer Mansion hits new high of $3,293 psf

By Felicia Tan
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - In this column, we look at condominium projects that have achieved new highs in terms of psf price and those that have seen new lows, based on URA Realis data for the period of Sept 20 to 24.

Highest psf transactions

The highest transaction recorded on a psf price basis was for a 484 sq ft unit at Meyer Mansion. The one-bedroom apartment on the 24th floor was sold for $1.60 million, or $3,293 psf, on Sept 20.
meyer mansion - EDGEPROP SINGAPORE
The scale model of Meyer Mansion. Photo: Samuel Isaac Chua/EdgeProp Singapore
The transaction comes more than two weeks after the development logged its lowest psf price of $2,403 for the sale of a 2,142 sq ft, four-bedroom premium unit on Sept 1. The psf price in the Sept 1 transaction may be attributable to the size of the four-bedroom premium unit, which is one of the largest apartments in the development.
Meyer Mansion is a freehold, single-block residential project with 200 units spread across 25 floors. The units comprise one- to four-bedders ranging from 484 sq ft to 2,142 sq ft. Developed by GuocoLand, the development is part of the seafront skyline in Marine Parade, in District 15.
Located in the East Coast area, Meyer Mansion is within close proximity of East Coast Park, Parkway Parade, as well as the upcoming Katong Park MRT Station on the Thomson-East Coast Line. The development is also a 10-minute drive away from the CBD, as well as central locations such as Marina Bay, Suntec City and the Civic District.
The freehold The Iveria, developed by niche developer Macly Group, also saw a new high in terms of psf price. The Iveria is a boutique development comprising 51 units over a single block, with only three-bedroom units ranging from 904 sq ft to 947 sq ft.
The scale model of The Iveria. Photo: Samuel Isaac Chua/EdgeProp Singapore
On Sept 20, a 915 sq ft, three-bedroom unit changed hands for $2.52 million, which translates to $2,751 psf. The unit is located on the top floor of the 18-storey block.
The Iveria, which is nestled along Kim Yam Road and River Valley Road in prime District 9, is a redevelopment of the former Riviera Point which was purchased en bloc by Macly Group for $72 million in February 2018. (See potential condos with en bloc calculator)
High-floor units at the development have unblocked views of Orchard Road, while the lower-floor units overlook the quiet neighbourhood of Oxley Road.
The Iveria is located within walking distance of Robertson Walk and Mohamed Sultan. It is also within close proximity of Great World City, Killiney Road, Orchard Road, as well as Great World MRT Station on the Thomson-East Coast Line and Somerset MRT Station on the North South Line.

Lowest psf prices

Lincoln Suites recorded a new low in terms of psf price after a 5,597 sq ft unit was sold for $7.77 million, or $1,388 psf, on Sept 24. This figure ties with the development’s lowest psf price on July 27 last year when a 4,898 sq ft, four-bedroom penthouse apartment was transacted for $6.8 million, or $1,388 psf.
The pool at one of Lincoln Suites' penthouse units. Photo: Samuel Isaac Chua/EdgeProp Singapore
The unit sold on Sept 24 is a five-bedroom duplex penthouse apartment on the 29th floor and is one of the three penthouse units in the development. The low psf price could be attributed to the fact that it is the largest unit in the development.
Lincoln Suites is a freehold development on Khiang Guan Avenue, off Lincoln Road and Newton Road in prime District 11. It has 175 units in twin 30-storey towers. Units are a mix of one- to four-bedroom apartments with sizes ranging from 463 to 3,143 sq ft.
The project was developed by a consortium made up of Koh Brothers, Heeton Holdings, Lian Beng Group and KSH Holdings, and completed in 2014.
Lincoln Suites is within walking distance of Novena MRT Station on the North-South Line, and close to shopping malls such as United Square, Goldhill Plaza, Velocity @ Novena Square and Square 2. The development is within 1km of St Joseph’s Institution Junior on Essex Road as well as Healthcity Novena.

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