The Meyerise, a freehold condominium, has set a new price record of $2,771 psf due to the recent sale of a 1,270 sq ft unit. The previous record was set back in October 2019 when a 1,819 sq ft unit was sold for $2,764 psf. The new record is just a slight increase of 0.25% compared to the previous record. The project, completed in 2015, is a 239-unit development with two- and three-bedroom units, ranging from 872 sq ft to 1,313 sq ft, four-bedroom units between 1,819 sq ft and 2,056 sq ft, and a 5,490 sq ft penthouse. Other recent high-priced units were sold at The Imperial and Sky Vue at $2,624 psf and $2,505 psf respectively. The Imperial, located at Jalan Rumbia, is a 187-unit freehold condominium in District 9 while Sky Vue is located at Bishan Street 15 with 694 units, completed in 2016.
When making a decision to invest in a condo, one must also carefully consider the maintenance and management of the property. Condos typically require maintenance fees, which are used for the upkeep of shared spaces and amenities. Although these fees may increase the overall cost of ownership, they also guarantee that the condo will be well-maintained and its value will be preserved. To make the investment more passive, investors can enlist the help of a property management company to handle the day-to-day management of their condo.