Meyer Blue, a luxurious freehold condo in District 15, sold 114 of its 226 units during its launch weekend, achieving an average price of $3,260 per square foot (psf). Units ranged from two-bedrooms priced at $2 million to five-bedroom suites sold for $5.6 million.
The two penthouses in the development also found buyers, with prices reaching $10.3 million for the largest unit, marking a price of $3,436 psf. The strong sales performance attracted mostly local buyers, with 99% being Singaporeans or permanent residents.
Many buyers were drawn to Meyer Blue’s larger units, with two- and three-bedroom apartments accounting for 77% of the sales. PropNex CEO Ismail Gafoor noted that the property’s location and limited supply of new homes in the Meyer area boosted demand.
Developers UOL Group and Singapore Land Group acquired the land through a collective sale of the former Meyer Park condominium. The project’s prime location along Meyer Road offers residents unobstructed sea views and proximity to the newly opened Thomson-East Coast Line, which enhances connectivity to the city.
Huttons Asia CEO Mark Yip added that the rarity of new homes in this neighborhood, coupled with the freehold tenure, significantly contributed to the success of the launch. Fewer than 12 plots in the area offer unblocked sea views, and all have been fully developed.
The launch also coincided with recent interest rate cuts by the US Federal Reserve, further lifting buyer confidence in the market. This positive sentiment is expected to sustain momentum for upcoming property launches in the last quarter of the year.
As transformation plans unfold in Singapore’s eastern regions, including the Kallang Alive Masterplan, Meyer Blue’s prime positioning ensures its long-term appeal for both homebuyers and investors.
