The Meyerise, a 239-unit freehold project at Meyer Road, saw strong interest from buyers during its weekend preview, with nearly 70 percent of the 120 units released sold.

Of the total units sold, approximately 50 percent were three-bedroom units, with prices ranging between S$1,400 psf and S$2,540 psf.

“Location proved to be a strong deciding factor for buyers of The Meyerise, particularly since about 50 percent of buyers already live in District 15,” said Betsy Chng, Head of Sales and Marketing for Hong Leong Holdings.

“Coupled with the fact that new freehold projects are becoming a rarity, many buyers felt that this was a good deal.”

More than 90 percent of the buyers are Singaporeans and permanent residents (PRs). The project is located near Katong Shopping Centre, 112 Katong and Parkway Parade. The development is near amenities like banks, grocery stores, retail outlets and eateries, while the CBD is easily accessible through Nicoll Highway and East Coast Expressway.

“Residents in this area often prefer to continue keeping their address within the district because it’s an excellent location with good amenities and value,” said Joseph Tan, Executive Director for Residential Services at CBRE.

“New freehold properties across the island are few and far between, much less within the district.”

Source : PropertyGuru – 6 Sep 2011