SINGAPORE – Freehold condominium Meyer Blue moved 114 units – slightly more than half of its 226 units – over its launch weekend at an average price of $3,260 per square foot (psf).
The range of prices included $2 million, or $3,019 psf, for a two-bedder (from 667 sq ft); just under $3 million, or $2,985 psf, for a three-bedder (from 990 sq ft); $4.5 million, or $2,950 psf, for a four-bedder (from 1,518 sq ft); and $5.6 million, or $2,936 psf, for a five-bedder (1,905 sq ft).
The only two penthouses in the development were also sold, said developer UOL. According to property portal EdgeProp, the 2,949 sq ft penthouse unit was sold for $10.1 million, or $3,418 psf; while the 2,992 sq ft unit went for $10.3 million, or $3,436 psf.
Of the 114 units sold, more than 77 per cent were two- and three-bedroom units, sized from 667 sq ft to 1,141 sq ft, said PropNex chief executive officer Ismail Gafoor.
Almost all buyers, at 99 per cent, were Singaporeans and permanent residents, while just one was a foreigner from the United States, said UOL’s general manager of residential marketing Anson Lim.
The majority of buyers had purchased units for their own occupation and legacy reasons, said ERA CEO Marcus Chu.
This tracks with the area’s general home-buying trend, said Mr Nicholas Mak, chief research officer at Mogul.sg. In the past year, 83.8 per cent of condos in District 15 were purchased by locals and 14.2 per cent by permanent residents.
Foreigners accounted for just 2 per cent of buyers, deterred by the high additional buyer’s stamp duty (ABSD), said Mr Mak.
Located along Meyer Road in District 15, Meyer Blue spans a land area of 96,672 sq ft, with a gross floor area of