DEAL WATCH: The View @ Meyer unit selling at $1,598 psf

A 1,690 sq ft unit at The View @ Meyer is on the market for $2.7 million ($1,598 psf). The three-bedroom unit is currently vacant, according Javier Koh, a property agent from ERA Realty who is marketing the property. The unit is very well-maintained and retains most of its original fittings, he adds.

No transactions have taken place at the development since October 2015. The latest comparable transaction of a similar-sized unit was in September 2015 when another 1,690 sq ft three-bedroom unit on the 13th floor was sold for $2.77 million ($1,638 psf).

That year also saw the sale of two four-bedroom units at the development: a 1,798 sq ft unit on the 19th floor changed hands for $2.97 million ($1,652 psf), while a 1,851 sq ft unit on the 20th floor was sold for $3 million ($1,620 psf).

A 1,690 sq ft unit at The View @ Meyer is on the market for $2.7 million ($1,598 psf)

The last time prices for a three-bedroom unit fell below the $1,600 psf mark was in April 2014 when a 1,690 unit on the 11th floor changed hands for $2.68 million ($1,586 psf).

The View @ Meyer is a freehold apartment across the road from Katong Park in District 15. The single 23-storey tower with 45 apartments was developed by GuocoLand and completed in 2010. Buyers of the property will benefit from the upcoming Katong Park MRT station of the Thomson-East Coast Line, which is scheduled to be completed by 2023.

There was one rental contract for a 1,600-to-1,700 sq ft, three-bedroom unit in April 2016. The monthly rent was $6,200, which translates into a potential gross rental yield of 2.8% based on the asking price.

This article appeared in The Edge Property Pullout, Issue 768 (Feb 27, 2017) of The Edge Singapore

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