“Cosy community on the urban fringe”
Huh, I didn’t know about this area, and I’m surprised rents and starting prices would be so high…
From Straits Times – June 10, 2007
NEW DEVELOPMENTS along Mayor Road include CapitaLand’s The Seafront @ Meyer (right), coming up just beside The Belvedere. — ALPHONSUS CHERN
THE tranquil Meyer area, tucked away just north of the East Coast Parkway, offers a fairly wide mix of housing choices.
There is a clear delineation between the condominiums and the semi-detached houses on opposite sides of Meyer Road.
But both ends share the purely residential area’s relative peace and quiet.
The area is popular with Indian expatriates, who like it for its proximity to both East Coast Park and the city.
Lifted by new launches, prices in the area hit about $950 to $1,200 per sq ft (psf) on average in the first quarter of the year, up 35 to 50 per cent from a year earlier, said CB Richard Ellis.
The newest project launched for sale this year is CapitaLand’s The Seafront @ Meyer, following the launch of GuocoLand’s The View @ Meyer. Sing Holdings’ Meyer Residence was first marketed more than a year ago.
Some of the older projects – particularly those where owners are keen to attempt collective sales, such as Hawaii Tower – have attracted higher offers.
Deals done this year have averaged about $957 psf at Hawaii Tower and $1,075 psf at The Sovereign, said Savills Research, citing data from the Urban Redevelopment Authority.
Asking rents for a two- to three-bedroom unit in the area average $3,500 to $5,000 a month, Savills said.
But rents can be much higher. At The Sovereign, which has relatively large units, landlords are asking $9,500 to $11,000 a month for the larger 3,300 sq ft units, it said.