When considering a new property investment, especially in prestigious areas like Meyer Road, making an informed decision is crucial. Meyer Blue, a recent development by UOL and Sing Land, has sparked significant interest among home buyers and investors alike. To help you navigate this decision, we’ve analyzed Meyer Blue using the QPE (Quality, Point, Exit Strategy) Framework. Here’s what you need to know to determine if Meyer Blue is the right choice for you.

Introduction to Meyer Blue

In February 2023, UOL and Sing Land en bloc the former Meyer Park for a substantial $392 million. Meyer Blue comprises one block with 226 units, ranging from 2 to 5 bedrooms, situated on a 96,000 sq ft land parcel. The development offers unblocked views of the East Coast and Mountbatten from the northern side, while the southern side features either expressway views or, for higher floors, an unobstructed sea view. 

The land rate stands at approximately $1,668 per square foot, with a breakeven point around $2,725 per square foot.

 

Quality: Assessing the Essentials

Land Size and Facilities
Meyer Blue is built on a 96,000 sq ft land area, positioning it as a smaller yet well-equipped development. Residents can enjoy amenities such as a lap pool separating the building from the highway, a lazy pool at the front, a Sky Gym on level 27, a club lounge, and a Sky Lawn. The modern, upmarket façade with glassy finishes and gold trimming adds to its appeal, though it may not fully meet the high expectations typically associated with upscale East Coast developments.

Layout and Unit Design
Meyer Blue offers a variety of unit types:

• 2-Bedroom Units (667 sq ft): These units feature semi-enclosed kitchens and safe configurations, though the size may feel too compact for high net worth individuals accustomed to larger spaces. However, the smaller size translates to a lower quantum, making them more affordable.
• 3-Bedroom Units (990 sq ft): Available in compact and premium versions, the compact units offer sea-facing dumbbell layouts but may lack the spacious feel users expect.
• 4-Bedroom Units (1,432 sq ft): These units, including those with private lifts, are comparable to offerings in nearby Grand Dunman or Tembusu Grand and are likely to be popular despite their smaller size.
• 5-Bedroom Units (1,905 sq ft): As the largest non-penthouse units, these offer a reasonable entry-level range in Meyer Road, though room sizes for larger units may feel limited.

Location, MRT Accessibility, and Amenities

Located between Tanjong Katong and Katong Park MRT stations, Meyer Blue benefits from Meyer Road’s prestigious status. 

The area is favored for its exclusive Mountbatten enclave and single-loaded road offering unobstructed views on both sides. While amenities within Meyer Road itself may be limited, the strategic location ensures easy access to nearby recreational facilities and avoids the claustrophobic feel found in areas like Tanjong Rhu and Amber.

Views and Noise Considerations

Meyer Blue offers unblocked sea views on the southern side and landed views on the northern side. However, sea-facing units come with the downside of traffic noise from the expressway. Despite this, the quality of the views remains a strong selling point, especially for higher-floor units.

Exit Strategy: Resale Potential

East Coast properties generally maintain a strong resale market unless the development is poorly constructed. Meyer Road’s limited supply creates sustained demand, with prospective buyers including landed downgraders, affluent families, and middle to high-income earners. However, factors like the Long Island reclamation project may influence future developments in District 15, potentially reshaping the area’s landscape over the coming decades.

Pricing: Understanding the Value

Meyer Blue is positioned at a premium price point:

• 2-Bedroom Units: Priced between $3,200 and $3,500 per square foot, totaling approximately $2.15 to $2.33 million.
• 3-Bedroom Units: Compact units may feel overpriced at $3,200 to $3,500 per square foot, whereas premium units are slightly more justified at $3,000 to $3,200 per square foot.
• 4 and 5-Bedroom Units: These units range from $4.8 to $6.6 million, aligning with resale prices in the neighborhood and offering competitive entry-level options for larger families.

Comparison with Nearby Developments

Meyer Blue’s location is superior to its neighbors, but that doesn’t make it better in every way. It attracts a different buyer demographic compared to Dunman Grand and Tembusu Grand.

Continuum is a reasonable comparison, being freehold and priced at $2,600-$3,000 psf. Arena Residences at Fort Road is another upcoming project to consider. However, Meyer Road’s prestige sets it apart from other eastern areas like Paya Lebar, much like comparing Ardmore Park to Stevens Road or Newton Circus.

Meyer Blue’s closest rival will be the recently completed Meyer Mansion, with both sharing a similar visual appeal. Given the scarcity of land on Meyer Road, these two may be the only luxury freehold options for buyers in the near future, competing for the same pool despite differences in facilities, layouts, and pricing.

While Meyer Blue has a locational advantage, its unique selling points and target audience must be considered when comparing it to other new launches. Its true competition is limited to a few projects offering similar prestige and exclusivity, making it a niche product attracting buyers willing to pay a premium for the address.

Final Verdict: Good Buy or Goodbye?

Good Buy If You:

• Seek a freehold property for long-term ownership or estate planning.
• Desire larger units like 4 or 5 bedrooms, which are scarce on Meyer Road.
• Are looking for sea-facing units with solid resale potential.

Consider Goodbye If You:

• Plan to flip the property within a short-term horizon of 3-5 years.
• Prioritize proximity to schools, amenities, and MRT within a 5-minute radius.
• Find the pricing too high relative to the perceived value, especially for smaller units.

Overall, Meyer Blue presents a mixed bag. It’s a solid investment for those looking to hold long-term or seeking specific unit types that are in limited supply. However, for those focused on short-term gains or seeking more immediate amenities and value, exploring upcoming projects like Emerald Of Katong or other new launches may be more advantageous.

Ultimately, your decision should align with your financial goals, lifestyle preferences, and long-term property vision. Meyer Blue offers a prestigious address and modern amenities, but it’s essential to weigh these against the price and your specific needs to determine if it’s the right fit for you.