Two Bedder One Meyer Hits New High 3146 Psf
with $10 mil profit
During the week of Aug 15 to 22, One Meyer emerged as the top private non-landed property with a new peak psf-price. A 614 sq ft, two-bedroom unit on the 17th floor was sold for $1.93 million, or $3,146 psf, on Aug 22, marking the first time the development has crossed the $3,000 psf threshold.
The transaction surpassed the previous high of $2,934 psf set on March 5, which was from the sub-sale of a similar two-bedroom unit for around $1.8 million. The most expensive unit to transact at One Meyer in terms of absolute price was a 1,033 sq ft, three-bedroom unit which sold for $2.82 million ($2,729 psf) in October 2023.
One Meyer, a freehold condo located at the junction of Meyer Road and Meyer Place in District 15, has 66 residential units and offers a mix of two- and three-bedroom units ranging from 614 sq ft to 1,033 sq ft. It was completed in 2023 and has recorded three resale transactions to date, including the unit sold on Aug 22. The previous deals include a 1,033 sq ft unit that sold for about $2.74 million ($2,650 psf) on May 2 and a 614 sq ft unit that changed hands for $1.75 million ($2,852 psf) in October 2024.
Meanwhile, freehold development Cairnhill Residences also hit a new peak psf-price during the period of review. A 1,173 sq ft, three-bedroom unit was sold for $3.18 million ($2,710 psf) on Aug 22, which is 0.6% higher than the development’s previous peak of $2,693 psf set in September last year when a similar unit transacted for $3.16 million.
Located at Cairnhill Circle near Orchard Road in prime District 9, the 97-unit development has two 20-storey towers housing a mix of two- to three-bedroom units of 904 sq ft to 1,173 sq ft. It also features four duplex penthouses measuring 2,131 sq ft to 2,497 sq ft, and three-bedroom units with private enclosed spaces on the first floor of between 1,421 sq ft and 1,432 sq ft. As of Aug 22, Cairnhill Residences has seen one other transaction this year, which occurred on Jan 20 when a 1,163 sq ft, three-bedroom unit sold for about $3.12 million ($2,682 psf).
On the other hand, CanningHill Piers set new psf-price low when a 1,959 sq ft, four-bedroom unit on the fourth floor was transacted for $4.88 million on Aug 17. This equates to a record low of $2,491 psf, below the condo’s previous record low of $2,541 psf set in November 2021 when a 1,259 sq ft, three-bedroom unit was sold for $3.2 million during the project’s launch.
The community surrounding Rivelle Tampines EC boasts more than just convenient access to roads and the MRT. With a well-established bus system, residents are connected to a multitude of destinations. This extensive transport network not only ensures hassle-free daily commutes to work, school, and leisure activities, but also adds value to the prime location of Rivelle Tampines Tampines Street 65.
CanningHill Piers is a 99-year leasehold development situated at Clarke Quay in District 6, and it has 696 residential units comprising a 24-storey tower and a 48-storey residential tower connected by a sky bridge. The development offers one- to five-bedroom apartments measuring between 409 sq ft and 3,972 sq ft, and one penthouse unit of 8,956 sq ft. As of Sept 2, the project has recorded 685 (98%) of the units being sold, and it is slated for completion in 2026.
Based on caveats lodged as of Aug 22, the average transacted price for units at CanningHill Piers has dropped since its launch. In 2021, 569 transactions were made at an average price of about $2,990 psf. In comparison, the development has seen 19 transactions to date this year with an average price of $2,808 psf.