Overview Score
our consideration
Our Verdict
Meyer Blue is an impressive luxury development that offers a prime location, a diverse range of unit types, and top-notch amenities. While the high prices may be a deterrent for some, the freehold tenure and excellent connectivity make it a valuable long-term investment. The development’s proximity to East Coast Park and various cultural and recreational facilities further enhances its appeal.
Overview
Meyer Blue, formerly known as Meyer Park, is a newly proposed residential development located at 83 Meyer Road in the highly sought-after District 15 of Singapore. Developed by United Venture Development (Meyer) Pte. Ltd., a joint venture between UOL Group Limited and Singapore Land Group Limited, Meyer Blue is set to redefine luxury living with its meticulously designed units and exceptional amenities.
| Feature | Details |
|---|---|
| Project | Meyer Blue |
| Developer | UOL Group & Singapore Land Group |
| Status | Condominium |
| Address | 81, 83 Meyer Road, Singapore |
| District | 15 |
| Expected TOP | 2028 |
| Site Area | 96,672 sqft (8,981 sqm) |
| Neighbourhood | Marine Parade |
| Plot Ratio | 2.8 |
| Tenure | Freehold |
| No. of Storeys | Estimated 26 storeys |
| No. of Units | 226 units |
Floor Plans
Unit Mix & Distribution
Meyer Blue offers a diverse range of unit types, catering to different family sizes and preferences. The development comprises 226 units, with options ranging from 2-bedroom apartments to luxurious penthouses.
| Unit Types | Unit Types | No. of Units | Area (sq m) | Area (sq ft) |
| 2-Bedroom Premium | BP1 / BP1(p) | 50 | 62 | 667 |
| 2-Bedroom Premium + Study | BPS1 / BPS1(p) | 25 | 66 | 710 |
| 3-Bedroom | C1 / C1(p) | 25 | 92 | 990 |
| 3-Bedroom Premium | CP1 | 24 | 106 | 1,141 |
| 4-Bedroom Premium (with Private Lift) | DP1 / DP1(p) | 25 | 142 | 1,528 |
| DP2 / DP2(p) | 25 | 141 | 1,518 | |
| 4-Bedroom Premium + Study (with Private Lift) | DPS1 / DPS1(p) | 25 | 161 | 1,733 |
| 5-Bedroom Suite (with Private Lift) | E1 / E1(p) | 25 | 177 | 1,905 |
| Penthouse | PH1 | 1 | 278 | 2,992 |
| PH2 | 1 | 274 | 2,949 | |
| Total Units | 226 | |||
Site Plan
Meyer Blue’s site plan is designed to offer residents a harmonious blend of luxury and nature. Key features include:
- Swimming Pool: Central feature for relaxation and recreation.
- Basement Carpark: One carpark lot per unit, ensuring convenience.
- Communal Facilities: Includes a gym, clubhouse, and landscaped gardens.
- Sustainable Features: Energy-efficient designs and eco-friendly materials.
Price & Affordability
Meyer Blue is positioned as a luxury development, with prices reflecting its prime location and high-end features. The starting prices are as follows:
| Unit Type | Estimated Size (Sqft) | Price Range (SGD) |
|---|---|---|
| 2 Bedroom Types | 670 – 700 | $2,010,000 – $2,450,000 |
| 3 Bedroom Types | 1,000 – 1,200 | $3,000,000 – $4,200,000 |
| 4 Bedroom Types | 1,500 – 1,700 | $4,500,000 – $5,950,000 |
| 5 Bedroom Suite | 1,900 | $5,700,000 – $6,650,000 |
Meyer Blue
Urban Living with Impeccable Design
In urban environments, the fusion of functionality and aesthetics is crucial for creating living spaces that are both practical and visually appealing. Impeccable design principles play a key role in optimizing the layout and utilization of space in urban dwellings.
Location
Meyer Blue is strategically situated in District 15, one of Singapore’s most coveted addresses. The development enjoys excellent connectivity and proximity to various amenities.
- Nearby MRT Station: Katong Park MRT station (TE24) on the Thomson-East Coast Line, 6-minute walk
- Expressways: Close to East Coast Parkway (ECP), Marina Coastal Expressway (MCE), and Kallang-Paya Lebar Expressway (KPE)
- Shopping & Dining: Parkway Parade, 112 Katong, Katong V, Paya Lebar Quarter (PLQ), Marine Parade Central Market and Food Centre, Geylang Serai Market
- Schools: Tao Nan Primary School, Tanjong Katong Girls’ School, Victoria Junior College
Nearby Amenities
Meyer Blue offers a wealth of nearby amenities, enhancing the living experience for its residents.
- Recreational Facilities: East Coast Park, Marine Cove, Coastal PlayCove, Singapore Sports Hub
- Cultural Attractions: Katong-Joo Chiat district, Goodman Arts Centre
- Future Developments: Long Island development, Kallang Alive Master Plan
Developer Reputation
United Venture Development (Meyer) Pte. Ltd., a joint venture between UOL Group Limited and Singapore Land Group Limited, is the developer behind Meyer Blue. Both developers are renowned for their high-quality residential projects and have a strong track record in Singapore’s real estate market. Their previous collaborations include prestigious addresses like Watten House and MeyerHouse, showcasing their ability to deliver luxurious and award-winning developments.
Pricing Comparison with Nearby Condominiums
Comparing Meyer Blue with nearby condominiums:
- Meyer Mansion (Freehold, 200 units): Launched in September 2019, price appreciation of +4.46%.
- MeyerHouse (Freehold, 56 units): Launched in May 2019, price appreciation of +19.70%.
- Meyerise (Freehold, 239 units): Launched in September 2011, price appreciation of +28.29%.
- The Seafront On Meyer (Freehold, 327 units): Launched in March 2007, price appreciation of +41.67%.
Investment Considerations for Meyer Blue
Meyer Blue is a luxury freehold condominium located in Singapore’s District 15. Here are some factors to consider if you’re thinking about investing:
Pros of Investing in Meyer Blue
Prime Location
Situated on the prestigious Meyer Road, Meyer Blue offers an enviable address with excellent proximity to East Coast Park and the upcoming Katong Park MRT station. This enhances connectivity and lifestyle convenience.
Freehold Tenure
In a market where freehold properties are scarce, Meyer Blue stands out. Investors can look forward to potential long-term capital appreciation, making it an attractive option for legacy planning.
Strong Demand
The development’s popularity was evident from its launch day, with more than 50% of units sold immediately. This indicates a robust demand, which could translate to future price appreciation.
Reputable Developers
Meyer Blue is developed by UOL Group and Singapore Land Group, both esteemed names in the real estate sector. Their involvement assures buyers of quality construction and reliable delivery.
Luxurious Features
With unobstructed sea views and high-end amenities, Meyer Blue appeals to both homeowners and investors seeking a premium living experience.
Cons of Investing in Meyer Blue
High Price Point
Meyer Blue commands a premium price, ranging from $3,000 to $3,300 per square foot. This is higher compared to other developments in the vicinity.
Potential Risks
Future developments pose risks of view obstructions and possible price decreases. It’s essential to consider these factors when making an investment decision.
Market Conditions
The Singapore property market is subject to government cooling measures which can impact investment returns. Investors should be aware of these regulatory conditions.
Key Takeaways
- Location: Proximity to East Coast Park and Katong Park MRT station.
- Tenure: Freehold; rare and valuable in the Singapore market.
- Demand: Strong initial sales indicate high demand.
- Developers: Backed by reputable firms like UOL Group and Singapore Land Group.
- Amenities: Luxurious features with sea views.
Consider the Risks
- Premium Pricing: Higher cost per square foot.
- Future Developments: Potential for view obstructions and price fluctuations.
- Regulatory Conditions: Impact from government cooling measures.
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Potential Long-Term Rental Yields for Meyer Blue
Meyer Blue, a luxury freehold condominium in Singapore’s coveted District 15, promises attractive long-term rental yields. With its prime location on Meyer Road, unblocked sea views, proximity to the upcoming Katong Park MRT station, and high-end amenities, it stands out as a desirable choice for tenants seeking luxurious living. Based on current market trends and specific factors influencing rental yields, Meyer Blue is well-positioned to achieve competitive returns for investors.
Current Market Context
- Average Rental Yield in District 15: The East Coast/Marine Parade area, home to Meyer Blue, boasts an average rental yield of approximately 4.12% as of Q2 2024.
- Rental Price Range: Given the average PSF price of $3,000 to $3,300, Meyer Blue has the potential to align with or exceed these yields due to its unique attributes and premium status.
Factors Affecting Rental Yields
Prime Location
Meyer Blue benefits from its strategic location on Meyer Road, offering unblocked sea views and easy access to amenities via the upcoming Katong Park MRT station. This makes it highly attractive to tenants looking for upscale living with convenience.
Freehold Status
As a freehold property, Meyer Blue can command higher rental rates compared to leasehold properties. This freehold status contributes significantly to its potential for enhanced rental yields.
Unit Mix and Size
The development offers a diverse range of unit sizes, from two-bedroom to five-bedroom suites, catering to various tenant profiles. This flexibility can positively impact rental demand and yield, attracting both small families and high-net-worth individuals.
Luxury Features
Meyer Blue’s high-end amenities and finishes are designed to appeal to premium tenants who are willing to pay higher rents. These luxury features include state-of-the-art facilities, which can significantly boost rental yield.
Estimated Rental Yield
Based on the current market context and the factors outlined above, Meyer Blue is projected to achieve rental yields that are comparable or slightly higher than the district average of 4.12%. Its prime location, freehold status, varied unit mix, and luxury features collectively enhance its appeal, making it a promising investment for long-term rental income.
