Two Bedder One Meyer Hits New High 3146 Psf

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for a studio unitThe iconic One Meyer development has set the record for the highest psf-price peak among private non-landed properties during the week of Aug 15 to 22. The achievement was marked by the sale of a two-bedroom unit on the 17th floor for $1.93 million, or a staggering $3,146 psf. This is the first time the prestigious development has crossed the $3,000 psf threshold, breaking its previous high of $2,934 psf which was set on March 5 through a sub-sale of a similar two-bedroom unit for approximately $1.8 million. The new record-breaking transaction highlights the desirability and exclusivity of the development, further reinforcing its luxury status in the market.The 614 sq ft unit that sold for $1.93 million is a testament to the continued demand for prime real estate in the city fringe. One Meyer is a freehold condo situated at the junction of Meyer Road and Meyer Place in District 15, just a stone’s throw away from the upcoming Katong Park MRT Station on the Thomson-East Coast Line. This boutique development consists of 66 residential units, offering a mix of two- and three-bedroom apartments ranging from 614 sq ft to 1,033 sq ft. Since its completion in 2023, the development has seen a total of three resale transactions, including the recent one.Due to its prime location and luxurious offerings, One Meyer has consistently attracted high net-worth investors and buyers. The most expensive unit to transact at One Meyer since its completion is a 1,033 sq ft, three-bedroom unit that was sold for $2.74 million ($2,650 psf) on May 2, 2021. This was followed by a 614 sq ft unit that changed hands for $1.75 million ($2,852 psf) in October 2024. With its prime location and record-breaking psf-price peaks, One Meyer is undoubtedly one of the top luxury developments in the city fringe.In terms of absolute prices, the prestigious One Meyer has set the benchmark for record-breaking psf-price peaks, followed closely by the freehold development, Cairnhill Residences. The latter has also achieved a new psf-price high during the week of Aug 15 to 22 with the sale of a 1,173 sq ft, three-bedroom unit for $3.18 million ($2,710 psf) on Aug 22. This surpassed the previous record of $2,693 psf set in September 2020 when a similar 1,173 sq ft unit was sold for $3.16 million. Cairnhill Residences is a freehold condo located on Cairnhill Circle, near Orchard Road in prime District 9. The luxurious development comprises 97 units in two 20-storey towers offering a range of two- to three-bedroom units between 904 sq ft to 1,173 sq ft. The development 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 to 1,432 sq ft. With its prime location and prestigious offerings, Cairnhill Residences has consistently attracted high net-worth investors and buyers. As of Aug 22, the development has recorded one other transaction this year, while the latest transaction further reinforces the development’s record-breaking price peaks, making it one of the top luxury developments in prime District 9.On the other hand, CanningHill Piers has set a new psf-price low after developers sold 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, falling below 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 during its launch in November 2021. CanningHill Piers is a 99-year leasehold development situated at Clarke Quay in District 6. The development comprises 696 units in a 24-storey tower and a 48-storey residential tower linked by a sky bridge. The development offers one- to five-bedroom apartments spanning between 409 sq ft and 3,972 sq ft, as well as one penthouse unit of 8,956 sq ft. As of Sept 2, the development has seen 685 (98%) of units sold with an expected completion date in 2026.According to caveats lodged, the average transacted price for units at CanningHill Piers has dropped since its launch. In 2021, the development recorded 569 transactions at an average price of $2,990 psf. In comparison, the development has seen 19 transactions this year with an average price of $2,808 psf, further reinforcing the desirability of prime real estate in the city. With its prime location and prestigious offerings, CanningHill Piers is poised to be one of the top luxury developments along the Singapore River, catering to affluent buyers and investors in the market.