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  • Writer's pictureVivian Chong

District 15 East Coast Property - Is Meyer Mansion A Good Investment (Updated 2024)

Updated: 17 hours ago


Is Meyer Mansion a good investment


Meyer Mansion, located on Meyer Road in prime District 15, finally obtained its Temporary Occupation Permit (TOP) on 28 February 2024!


Meyer Mansion was launched in September 2019. This condo saw 21 units snapped up on the launch day. The condo was fully sold before TOP.




Location : 79 Meyer Road (Former site of Casa Meyfort)

Site Area : 85,249sqf

Developer : GuocoLand

Tenure : Freehold

TOP : February 2024

No. of Towers : 1 Tower

Tower Height : 25 storeys

Total units : 200


Unit Types

1 Bedroom (Stack 01) - 25 units (484sqft)

2 Bedroom (Stack 05) - 25 units (689sqft)

3 Bedroom (Stack 02 and 06) - 50 units (1,109sqft)

3 Bedroom Premium (Stack 03 and 04) - 50 units (1,399sqft, 1,496sqft)

4 Bedroom Premium (Stack 07 and 08) - 50 units (1,722sqft, 1,765sqft)


liv@mb
Panoramic unblocked landed view from units in Meyer Mansion.

Location


District 15 has always been a highly sought-after location, both for personal use and investment. According to an article by Edgeprop, it is one of the Top Five most-searched districts by property buyers.


Meyer Road is the prime of District 15. It is zoned mainly for residential developments. A considerable part of Meyer Road is reserved for landed properties, with even a segment zoned only for bungalows.


High-rise condos line the highway, forming a "wall" between the sea and the landed housing. Most of the condos' units enjoy either an unblocked seaview or an unblocked landed view.


Meyer Mansion unblocked seavew landed view
Condos in Meyer Road (boxed in blue) face either the unblocked seaview or landed view.

Meyer Road is located at the city fringe. This area has always been popular with both locals and foreigners.


You may want to read more about the detailed analysis of properties in District 15 - Meyer Road and Amber Road. Where Should I Invest?


Transport Accessibility


Thomson East Coast Line Katong Park MRT station
Meyer Mansion is located 6 minutes' walk away to Katong Park MRT Station.

Thomson-East Coast Line (TEL) is finally in service. Six stations serve the residents of District 15: Tanjong Rhu, Katong Park, Tanjong Katong, Marine Parade, Marine Terrace, and Siglap stations.


Residents can take a 6-minute walk to Katong Park station, which is 500m away, or an 8-minute walk to Tanjong Katong station, around 750m away.


With just 6 MRT stops, residents can reach Marina Bay station. And a mere 10 stops will take them to Changi Airport, making travel quick and efficient.


In terms of driving, Meyer Mansion is just a 2-minute drive to ECP and a 4-minute drive to MCE. It takes only 10 minutes to reach the Central Business District (CBD) and 15 minutes to reach Changi Airport.


Transport is easily accessible for residents of Meyer Mansion.




Surrounding Amenities


District 15 is well known for the East Coast Park. Exit from the back gate of Meyer Mansion, and you will reach the underpass leading to East Coast Park within a few minutes.


Take a stroll along Meyer Road, and you will reach Katong Park—one of the oldest parks in Singapore. Between 1879 and 1910, Katong Park was a fort protecting the southeastern coast of Singapore. It has now become a popular place with playgrounds, fitness corners, and even dog-run corners!


The popular shopping mall in the East, Parkway Parade, is just two MRT stops or a 5-minute drive away. Kallang Wave Mall is also within a 5-minute drive.


Property in meyer road amber road near to Parkway Parade

Local schools nearby include Dunman High School, Chung Cheng High School, Tanjong Katong Primary and Secondary School.


No primary schools are within the 1km range for parents with young kids attending primary school. However, Kong Hwa School and Tanjong Katong Primary School are within 2km of Meyer Mansion.


For more information on how the distance of residential address affects primary one registration, please visit https://www.moe.gov.sg/schoolfinder



Condo Facilities

facilities in meyer mansion

For a site of this size, it is rare to see two swimming pools—a 40m lap pool and a leisure pool (excluding a children's pool). However, like many newer condos of this size, this condo does not have a tennis court.


I like that there are two areas for residents to hold their functions. The first one is the alfresco dining beside the clubhouse, and the second is the beach alfresco beside the beach house. There are two themes for different functions, which is not very common in other condos.


It is interesting to find a grand lawn in Meyer Mansion. According to the developer, bungalows along the coastline in the past were required to be set back at least 15m from the shore. Thus, they recreate this by having a generous lawn fronting Meyer Mansion.





The developer, Guocoland, devoted up to 80% of the condo to landscaping and amenities, including this grand lawn just beside the leisure pool and in front of the clubhouse.


With a total of 203 carpark lots, including 3 handicap lots, each unit is allocated a dedicated parking space.


There are no visitors lots. However, based on experience in other condos along Meyer Road, the carpark lots are normally not fully subscribed. This is especially true if a high percentage of the units are tenanted.


Two common lifts serve the units, and four private lifts for the premium stacks.



Layout Efficiency


Let's examine the layout of each unit type.


1 Bedroom Type


1 bedroom units in meyer road
1 Bedroom Stack 01, 484sqf

The layout is typical of a 1-bedroom unit, with an area of 484sqf.


This layout has only one bathroom, so it is suitable for buyers who do not want to pay for a second bathroom if they don't need it.


One thing I don't like about this layout is the balcony. It measures around 3.75m by 1m. The narrow shape of the balcony makes it challenging to place an outdoor dining table and chair to enjoy my American breakfast in front of the beautiful sea (though I can still put a nice comfy bench to watch my sunrise while sipping on my coffee :))


There is only one stack of 1-bedroom units in Meyer Mansion. 1-bedroom units are rare here, as there are no other condos offering 1-bedroom units on Meyer Road.


Tips: Investors may want to consider a 1-bedroom unit here due to its rarity and proximity to the MRT station!


2 Bedrooms Type

2 bedrooms unit in Meyer mansion
2 Bedrooms Stack 05, 689sqf

The 2-bedroom unit has an area of 689sqf.


It features the dumbbell layout, which cuts down corridor space and makes the design more efficient.


The balcony measures around 3m by 1.75m, which is a good size relative to the size of the unit. The balcony and the two bedrooms face the low-rise, open-landed view of the Mountbatten area. This is a great view if you do not like the traffic noise from ECP and prefer a quiet view.


I like the lower floor units of this 2-bedroom stack. It faces the grand lawn and swimming pool. Just imagine how beautiful the view will be on a lazy weekday afternoon!

3 Bedrooms Type


3 Bedrooms Stack 06, 1109sqf
3 Bedrooms Stack 06, 1109sqf

3 Bedrooms Stack 02, 1109sqf
3 Bedrooms Stack 02, 1109sqf

The 3-bedroom typical units are in Stack 2 and 6. Both are 1109sqf.


Stack 2 faces the sea, and Stack 6 faces the landed area. Apart from the view, the main difference between these two stacks is the kitchen layout.


Stack 2 has an open-concept kitchen, while stack 6 allows an enclosed kitchen. Personally, I like the stack 2 unit. I will put an island in place of the dining table. That will make the unit look bigger and brighter. The kitchen will have a good view of the sea, too!


The typical 3-bedroom unit is smaller than the premium units, so the total quantum is lower. This will appeal to buyers who prefer not to pay a higher quantum for a 3-bedroom unit.


3 Bedrooms Type (Premium Unit)

Meyer Mansion 3 bedroom type
3 Bedrooms Stack 03 (Premium), 1496sqf

3 Bedrooms Stack 04 (Premium), 1399sqf
3 Bedrooms Stack 04 (Premium), 1399sqf

Two stacks of 3-bedroom units are classified as premium units, the 03 and 04 stacks. These premium units enhance the class of Meyer Mansion.


A private lift opens up to the individual units, providing total privacy to residents.


There is also a junior suite with an attached bathroom. The kitchen is also oversized. There is an Asian kitchen on top of the regular kitchen. There is also a storeroom that can be used as a helper's room or a laundry room.


The premium units at Meyer Mansion are designed with a focus on space and efficiency. Despite the higher quantum due to their larger size compared to the typical units, these units are sure to appeal to homeowners seeking comfort and convenience for their own stay.


4 Bedrooms Type (Premium Units)



4 Bedrooms Stack 07 (Premium), 1765sqf
4 Bedrooms Stack 07 (Premium), 1765sqf

4 Bedrooms Stack 08 (Premium), 1722sqf
4 Bedrooms Stack 08 (Premium), 1722sqf

There are 2 stacks of 4-bedrooms units, and they are both classified as the premium units.


I love the generous space for the 4-bedroom units. At 1722sqf and 1765sqf, they offer good space throughout.


Each unit has two balconies. The high-floor units in Stack 08 offer the best view of the sea. The unit layout means you will get an unblocked seaview throughout the unit—from the living room, both balconies and all bedrooms!


These 4-bedroom units will be popular with homeowners who are buying a unit for their stay. Condos in Meyer Road typically appeal to high-net-worth individuals who are looking at generous space and premium amenities for their own use.

Pricing


Different eras of condos along Meyer Road


It is exciting to look at the age of the significant condominiums on Meyer Road. We can classify them into four eras of condos:


Built Between 1970 to 1985

  • Peach Garden (TOP 1975)

  • Hawaii Tower (TOP 1984)

Built Between 1986 to 2000

  • The Sovereign (TOP 1993)

  • The Atria @ Meyer (TOP 1996)

  • The Makena (TOP 1998)


Built Between 2001 to 2015

  • The Belvedere (TOP 2007)

  • The Seafront on Meyer (TOP 2010)

  • Aalto (TOP 2010)

  • The Meyerise (TOP 2014)

Built From 2022 onwards

  • Meyer House (TOP 2022)

  • One Meyer (TOP 2023)

  • Meyer Mansion (TOP 2024)

  • Meyer Blue - previous Meyer Park site (Est TOP 2027)

Price comparison of older condos along Meyer Road


district 15 condos prices
Average past 12 months (Jun 2023 to May 2024) prices for the older condos along Meyer Road. (Source: EdgeProp)

From the above chart, we can see the average price of condos along Meyer Road.


The older condos, like Peach Garden and Hawaii Tower, average around $1,775psf. Do also note that these two condos have huge area, so the total quantum to purchase a unit there is high.


The slightly newer condos all average above $2,000psf, except The Makena.


A quick check on the past transactions in Makena shows that the prices there hovered around $1,700 to $1,800psf over the past year.



Price comparison of newer condos along Meyer Road


district 15 property prices
Average past 12 months (Jun 2023 to May 2024) for newer condos along Meyer Road. (Source: EdgeProp)

The above chart shows the average prices of the newer completed condos here.


There were fewer transactions occurred in these condos. One Meyer and Meyer House are boutique condos, which means they will not have as many transactions as the bigger condominiums.


Many owners in Meyer Mansion purchased the units less than three years ago, and they will not be inclined to sell as they will incur the Seller's Stamp Duty (SSD).


Despite the limited transactions, prices in Meyer Mansion are showing promising signs, with some units surpassing the $3,000psf mark. This suggests a potential for high returns.


Let's delve deeper into the price trend of Meyer Mansion.



Price and sales volume trend of Meyer Mansion


District 15 condo
Price and sales volume trend for Meyer Mansion (Source: EdgeProp)

The above chart shows the average prices of the newer completed condos here.


Average price for Meyer Mansion is $2,764psf.


The historical high unit sold here is a 1-bedroom, 484sqf unit that was sold in September 2021 at $3,293psf, while the historical low unit sold is a 4-bedroom, 2,142sqf unit that was sold in the same month at $2,403psf.


Some units in Meyer Mansion were sold above $3,000psf. These were mainly the 1 and 2-bedroom units.


Sub-sale Transactions


At the point of updating this article (June 2024), a sub-sale unit has taken place here.


A 4-bedroom unit was sold at $5m. This translates to $2,832psf, and a $400k profit for the previous owner who bought it in 2019.


There are a couple of units currently in the market and we should see more sub-sale transactions soon.


Contact me if you want to sell your unit in Meyer Mansion.



En-bloc potential in the Meyer Road area


Meyer Road is undergoing a revamp. Older condos are being en bloc and replaced with new condos.


The Belvedere (Former Viewpoint Condo), The Seafront on Meyer (Former Meyer Tower & First Mansion), Aalto (Former Eastern Mansion), Meyer House (Former Nanak Mansions), One Meyer (Former The Albracca) and Meyer Mansion (Former Casa Meyfort) were all built on sites which were en-bloc.


The latest kid on the block is Meyer Blue (former Meyer Park), which is likely to launch in Q3 of 2024.



About Meyer Blue


Meyer Blue, previously. known as Meyer Park, has been sold successfully to United Venture Development, which is a joint venture between UOL Group and Singapore Land Group.


Meyer Blue has a land size of 8,981sqm. This is slightly bigger than another condo nearby, The Belvedere, which has a smaller land size of 7,551sqm and 167 units.


At the point of writing, we received the latest updates from developer on the units breakdown in this condo, as follow:


2 Bedroom Premium & 2 Bedroom+study Premium - 75 units (Estimated 670 to 700sqf)

3 Bedroom & 3 Bedroom Premium - 49 units (Estimated 1,000 to 1,200sqf)

4 Bedroom Premium & 4 Bedroom+study Premium - 75 units (Estimated 1,500 to 1,700sqf)

5 Bedroom Suite - 25 units (Estimated 1,900sqf)

5 Bedroom Penthouse - 2 units (Estimated 3,000sqf)


Contact me to receive the floorplan and VIP showflat viewing!


enbloc potential in meyer road
Meyer Park has been enbloc and will be launched soon as Meyer Blue.

Conclusion


Meyer Road has traditionally been the most prestigious road in the East. Properties along Meyer Road command a higher price due to their freehold tenure, prime location, and proximity to amenities in the East Coast area.


Meyer Mansion, the newest addition to the area with its recent TOP attainment, is a hot spot for tenants and a must-see for homeowners and investors eyeing the sub-sale units.


Whether you are an owner of Meyer Mansion looking to sell your unit or a buyer looking to invest in a property in the East Coast area, I would love to share my views with you.


Make an appointment, and let's chat!




 

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About The Author

Vivian Chong

Vivian joined the real estate industry in 2002.


Over the years, she has transacted numerous property deals, including HDB and private properties. She is well-versed in policies and regulations involving selling and purchasing residential properties. She has also handled complicated transactions like contra, divorce, administration/probate cases, and decoupling / part-share purchases.


Aside from her professional achievements, Vivian is a dedicated mother to 2 boys. Her role as a real estate mom has allowed her to strike a balance between her career and family, spending quality time with her children as they were growing up. Both boys are passionate footballers, and she takes great joy in supporting them at their school and club games.


Vivian is an active real estate salesperson and team leader. Call her at 98577714 for your real estate matters or if you are looking to join the industry.

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