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District 15 East Coast has traditionally been a highly sought-after district for property, whether to buy for investment or own stay.
In this article, we will dive deep into this district, specifically the Meyer Road and Amber Road areas.
Meyer Road and Amber Road are the prime residential areas of District 15. Both are classified under the Rest of Central Region (RCR) and offer mainly freehold properties.
We will discuss the resale and new home markets. What are the average prices transacted here over the past 12 months?
For new home sales, prices are hitting above $3,000psf and above for some units. Are they worth the buy?
Are the properties in District 15 good investments?
Location Scan
District 15
District 15 includes Tanjong Rhu, Meyer Road, Amber Road, Katong, Marine Parade, Joo Chiat and the area around the East Coast. A large proportion of the district is zoned for residential development.
There are both freehold and leasehold properties here. Generally, the residential properties in Tanjong Rhu and Marine Parade are 99-year leasehold (except for a few, like Waterside and Parkshore in Tg Rhu, which has the freehold status).
Properties in Meyer Road, Amber Road, Katong, Joo Chiat and East Coast are generally freehold (except The Shore Residences, where the developer, Far East, has decided to sell the property at 103 years leasehold instead of freehold).
What is the potential upside for properties in the Meyer Road and Amber Road area?
Meyer Road and Amber Road Areas
On the map, Meyer Road and Amber Road are adjacent neighbourhoods, separated only by Tanjong Katong Road.
However, a visit to these two neighbourhoods will reveal stark differences in their vibes, each catering to a distinct demographic.
Meyer Road area is a unique, quiet neighbourhood. A significant portion of the area is designated for landed housing, with a segment exclusively for bungalows, adding to its charm and exclusivity.
High-rise condos lined in front of the highway form a "wall" between the sea and the landed housing.
It is relaxing to walk around the neighbourhood and enjoy the lush greenery and tranquil environment.
On the other hand, there are more developments in the Amber Road area.
You will find a few big condos here with hundreds of units each and many boutique condos with fewer units.
Many amenities are within walking distance - eateries, pubs, shopping malls etc.
There is a lot of vibrancy in the Amber Road area.
What Are The Average Prices in Meyer and Amber Area?
Meyer Road
It is very interesting when we look at the age of the major condominiums on Meyer Road. Broadly speaking, we can classify them into four eras of condos:
Built Between 1970 to 1985
Peach Garden (TOP 1975)
Hawaii Tower (TOP 1984)
Built Between 1986 to 2000
The Sovereign (TOP 1993)
The Atria @ Meyer (TOP 1996)
The Makena (TOP 1998)
Built Between 2001 to 2015
The Belvedere (TOP 2007)
The Seafront on Meyer (TOP 2010)
Aalto (TOP 2010)
The Meyerise (TOP 2014)
Built From 2022 onwards
Meyer House (TOP 2022)
One Meyer (TOP 2023)
Meyer Mansion (TOP 2024)
Meyer Blue - previous Meyer Park site (Est TOP 2027)
Price comparison of older condos along Meyer Road
The chart above shows the average price of the older condos along Meyer Road over the past 12 months.
Older condos like Peach Garden and Hawaii Tower have an average price of around $1,775 psf. However, these condos offer larger units, resulting in a higher total purchase cost.
The newer condos typically average above $2,000 psf, except The Makena. A review of recent transactions at The Makena reveals that prices have ranged between $1,700 and $1,800 psf over the past year.
Price comparison of newer condos along Meyer Road
The chart displays the average prices of newer completed condos on Meyer Road.
Transactions in these condos have been fewer.
Boutique condos like One Meyer and Meyer House typically have fewer transactions than the larger condominiums.
Many owners at Meyer Mansion bought their units less than three years ago, making them less likely to sell due to the Seller's Stamp Duty (SSD).
Despite the limited number of transactions, prices at Meyer Mansion are showing positive trends, with some units exceeding the $3,000 psf mark, indicating a potential for high returns.
Related reading: Is Meyer Mansion A Good Investment?
Amber Road
The developments in Amber Road areas consist mainly of two types: large land parcels with a large number of units and smaller land parcels with high-rise condos.
Large Developments
The Seaview (TOP 2008, freehold, total units 546)
The Esta (TOP 2008, freehold, total units 400 )
One Amber (TOP 2010, freehold, total units 562)
The Shore Residences (TOP 2014, leasehold 103 years, total units 408)
Amber Park (TOP 2023, freehold, total units 592)
Boutique Developments
King's Mansion (TOP 1982, total units 196)
Amber Point (TOP 1991, total units 100)
Amber Residences (TOP 2011, total units 114)
The Cape (TOP 2014, total units 76)
Amber Skye (TOP 2017, total units 109)
Amber 45 (TOP 2020, total units 139)
Nyon (TOP 2022, total units 92)
Coastline Residences (TOP 2023, total units 144)
Price comparison of large developments in Amber area
Large land parcels with a significant number of units are popular with families.
Condos like The Seaview, The Esta, One Amber, and Amber Park each have more than 400 units. The average unit size is also bigger, with more 3 and 4-bedroom types.
Facilities like swimming pools, gyms, and function rooms are more family-oriented. As there are more units, maintenance fees are also normally lower.
Let's look at the prices of these larger developments over the past 12 months.
The chart above shows that the larger developments in the Amber areas transacted at an average of $1,957 to $2,871psf.
The Shore Residences has the lowest average price at $1,957psf. This is mainly due to its leasehold nature, as opposed to the other developments in the Amber area, which are freehold.
Amber Park, the newest condo ready for occupation in the area, surprisingly commands the highest price among these developments.
Price comparison of boutique developments in Amber area
Smaller land parcels with high-rise condos can commonly be found in the Amber Road areas. These developments consist mainly of smaller units and are targeted more at singles or couples without kids.
Let's check out the prices of the major boutique developments in Amber.
The chart above shows that the prices of these smaller developments range from $1,910 to $2,751psf.
However, do note that King's Mansion and Amber Point are older developments built in the 1980s and 1990s. Naturally, their prices will be lower than the newer ones.
The average price for the newer boutique condos is between $2,066 and $2,751psf.
Coastline Residences and Amber 45 command the highest price at $2,724psf and $2,751psf, respectively.
Both Coastline Residences and Amber Park have received TOP in 2023. However, their average transacted price differs by more than $100psf.
Prices of smaller developments tend to be lower than those of larger ones due to the lack of facilities.
How is District 15 as compared to District 9, 10 and 11?
According to an article by Edgeprop, District 15 is one of the Top five most searched-for districts by property buyers.
Let's compare District 15 to the three popular districts, Districts 9, 10, and 11.
The chart above tabulates the prices of condos and apartments in Districts 9, 10, 11, and 15 over the past ten years.
Prices in District 15 grew by more than 34% over the past ten years. This is only bettered by properties in District 10, where prices increased by 56%!
Districts 9 and 11, which are more popular with real estate investors purchasing for rental purposes, saw price growth of only 13% and 29%, respectively.
Properties in D15 are popular with both homeowners and property investors.
MRT Finally Accessible In 2024
For many years, no MRT lines ran in District 15. The nearest MRT stations to the East Coast area are Paya Lebar, Eunos, and Kembangan stations on the East-West Line or Mountbatten and Stadium stations on the Circle Line.
However, with the Thomson-East Coast Line (TEL) finally ready, six stations now serve the residents of D15.
These stations, namely Tanjong Rhu, Katong Park, Tanjong Katong, Marine Parade, Marine Terrace, and Siglap, now offer a more convenient and accessible mode of transportation for the residents of District 15.
Condos on Meyer Road are accessible to 2 MRT stations - Katong Park and Tanjong Katong.
Residents in the Amber area are served by Tanjong Katong station.
TEL is an important MRT line as it leads to Woodlands (with the possibility that the line might be extended to Malaysia) on one end and Changi Airport on the other.
Reaching Marina Bay takes only 6 to 7 MRT stops from Meyer Road and Amber Road areas.
Let's take a pause now and think about this question:
How many freehold properties in Singapore are within minutes walk to the MRT station?
En-bloc Potential
Developments in the Meyer Road area typically sit on a larger land parcel. Many of them were built in older eras, and their land is under-utilised. Condos like Hawaii Tower and The Sovereign have huge development potential.
Hawaii Tower is on a land area of 17,869 sqm, and there are currently 135 units in the development. This compares to The Seafront on Meyer, which has a slightly bigger land area at 18,684 sqm but 327 units.
Next, look at The Sovereign. This development has a land size of 13,370sqm and only 87 units. Compare this to The Meyerise, the newest condo on Meyer Road. The Meyerise has a smaller land size of 10,613sqm but 239 units.
Of course, Meyer Park was enbloc successfully and is now launching soon as Meyer Blue.
The en-bloc potential on Meyer Road is huge.
About Meyer Blue
Meyer Blue, previously known as Meyer Park, has been sold successfully to United Venture Development, a joint venture between UOL Group and Singapore Land Group.
Meyer Blue has a land size of 8,981 sqm, which is slightly bigger than another nearby condo, The Belvedere, which has a smaller land size of 7,551 sqm and 167 units.
At the point of writing, we received the latest updates from the developer on the unit breakdown in this condo, as follows:
2 Bedroom Premium & 2 Bedroom+study Premium - 75 units (Estimated 670 to 700sqf)
3 Bedroom & 3 Bedroom Premium - 49 units (Estimated 1,000 to 1,200sqf)
4 Bedroom Premium & 4 Bedroom+study Premium - 75 units (Estimated 1,500 to 1,700sqf)
5 Bedroom Suite - 25 units (Estimated 1,900sqf)
5 Bedroom Penthouse - 2 units (Estimated 3,000sqf)
Contact me to receive the floorplan and VIP showflat viewing!
A couple of developments are also underdeveloped in the Amber area.
Kings Mansion was built in 1982. It has a land size of 16,419 sqm and 196 units. At a plot ratio of 2.8, there is a huge potential for redevelopment.
Amber Point was built in 1991. It has a land size of 8,168 sqm and 100 units, all above 1600sf. There is also potential for redevelopment.
How can property investors capitalise on this?
There are 2 strategic ways to capitalise on this:
Firstly, investors can invest in an older property with en-bloc potential. This is because properties that were en-bloc successfully will fetch a higher market price than if listed in the market.
Secondly, investors can purchase a unit in an area where there are developments with en-bloc potential. When these developments are successfully en-bloc, the prices of the new development will, in turn, raise the prices of surrounding properties.
Conclusion
District 15 has always been highly sought after. It is home to many generations. Many East Coast dwellers are hardcore East Siders and will not move to any other part of Singapore.
Properties in D15, with their prime location, are also favoured by many tenants. The district's strategic position, just a 10-minute drive from both the CBD and Changi Airport, coupled with the TEL MRT, further enhances its appeal to tenants.
As a home for own-stay or property to be rented for passive income, D15 properties appeal to both. That is why property buyers have searched this district extensively.
If you are interested in investing in a property or need further opinions on which one makes a good investment. Do make an appointment, and let's share our opinions :)
Related Readings
About The Author
Vivian joined the real estate industry in 2002.
Over the years, she has transacted numerous property deals, including HDB and private properties. She is well-versed in policies and regulations involving selling and purchasing residential properties. She has also handled complicated transactions like contra, divorce, administration/probate cases, and decoupling / part-share purchases.
Aside from her professional achievements, Vivian is a dedicated mother to 2 boys. Her role as a real estate mom has allowed her to strike a balance between her career and family, spending quality time with her children as they were growing up. Both boys are passionate footballers, and she takes great joy in supporting them at their school and club games.
Vivian is an active real estate salesperson and team leader. Call her at 98577714 for your real estate matters or if you are looking to join the industry.