Two Bedder One Meyer Hits New High 3146 Psf

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One Meyer has emerged as the top private non-landed residential property in terms of reaching a new psf price peak during the week of Aug 15 to 22. This was achieved with the sale of a 614 sq ft, two-bedroom unit on the 17th floor for $1.93 million, or $3,146 psf, on Aug 22.

This transaction marks the first time that One Meyer has crossed the $3,000 psf threshold, surpassing the previous high of $2,934 psf set on March 5 from the sub-sale of a similar two-bedroom unit for around $1.8 million. In terms of absolute price, the most expensive unit transacted at One Meyer was a 1,033 sq ft, three-bedroom unit which sold for $2.82 million ($2,729 psf) in October 2023.

One Meyer is a freehold condominium situated at the junction of Meyer Road and Meyer Place in District 15. The property is located near Katong Park MRT Station on the Thomson-East Coast Line and boasts a boutique development with 66 residential units. The development features a mix of two- and three-bedroom units ranging from 614 sq ft to 1,033 sq ft.

Completed in 2023, One Meyer has seen three resale transactions thus far, including the unit sold on Aug 22. Prior to this, there was a 1,033 sq ft unit that was sold for approximately $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.

Another freehold property, Cairnhill Residences, has also achieved a new psf price high during the same period. This was accomplished with the sale of a 1,173 sq ft, three-bedroom unit for $3.18 million ($2,710 psf) on Aug 22.

The new psf price high at Cairnhill Residences is 0.6% higher than the development’s previous record of $2,693 psf, set in September last year when a similar 1,173 sq ft unit was sold for $3.16 million.

Cairnhill Residences is located on Cairnhill Circle, near Orchard Road in prime District 9. The property, which was completed in 2009, comprises 97 units spread across two 20-storey towers. The units offer a mix of two- to three-bedroom apartments measuring 904 sq ft to 1,173 sq ft. Additionally, there are four duplex penthouses spanning 2,131 sq ft to 2,497 sq ft, and three-bedroom units with private enclosed spaces on the first floor measuring between 1,421 sq ft and 1,432 sq ft.

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As of Aug 22, Cairnhill Residences has recorded only one other transaction this year, based on lodged caveats. On Jan 20, a 1,163 sq ft, three-bedroom unit was sold for about $3.12 million ($2,682 psf).

Conversely, CanningHill Piers hit a new psf price low for the development with the sale of a 1,959 sq ft, four-bedroom unit on the fourth floor for $4.88 million on Aug 17. This translates to a record low of $2,491 psf, which is lower than the development’s previous record low of $2,541 psf, when a 1,259 sq ft, three-bedroom unit was sold for $3.2 million in September 2021 at the project’s launch.

CanningHill Piers is a 99-year leasehold development located at Clarke Quay in District 6. The property boasts a 696-unit condo, which stands along the Singapore River and is comprised of a 24-storey tower and a 48-storey residential tower connected by a sky bridge. The development features one- to five-bedroom apartments measuring between 409 sq ft and 3,972 sq ft, and one penthouse measuring 8,956 sq ft. Based on lodged caveats as of Sept 2, 685 units (98%) have been sold, and the development is set to be completed in 2026.

Caveats lodged also offer confirmation that the average transacted price for units at CanningHill Piers has eased since its launch. In 2021, the development boasted 569 transactions at an average price of approximately $2,990 psf. In comparison, the development has only seen 19 transactions thus far this year with an average price of $2,808 psf.