Meraprime
Overview & Key Facts
Meraprime rises 36 storeys above Jalan Bukit Ho Swee in District 3, occupying one of the most strategically positioned inner-city plots in Singapore’s Rest of Central Region. Developed by MCL Land (Balmoral 2) Pte Ltd — a subsidiary of the Hong Kong-listed MCL Land group with a long track record of mid-to-premium residential projects across Singapore — the development was completed in 2006 and comprises 213 units on a 99-year leasehold tenure from 2003, leaving approximately 76 years remaining as of 2026.
What sets Meraprime apart from the broader RCR inventory is its precise positioning: the development sits at the convergence of two distinct Singaporean worlds. To the north and west lies the Tiong Bahru conservation estate — one of the island’s most celebrated heritage neighbourhoods, known for its pre-war art deco walk-ups, independent bakeries, literary bookshops, and the vibrant Seng Poh hawker market. To the east, the CBD skyline is visible from upper floors, and the financial district is reachable in under ten minutes by MRT. This dual identity — lifestyle neighbourhood and commuter asset — gives Meraprime unusual cross-buyer appeal.
The investment case is among the most compelling of any 213-unit condo in Singapore. Our transaction data records 293 rental transactions against only 33 resale transactions — a ratio exceeding 8:1 that is exceptional for a development of this size. This is not circumstantial; it reflects a deep, sustained structural demand from CBD-based professionals and expats who want Tiong Bahru lifestyle but cannot afford or do not wish to own in CCR. The resulting gross yield of approximately 3.5% is solid for a D3 inner-city asset, and the low resale-to-rental ratio implies minimal speculative churn — owners hold, tenants rotate.
The 36-storey tower format is another point of distinction. For a 213-unit development, the high-rise configuration delivers elevated views from a significant share of units — a rarity at this unit count. EdgeProp records show a buyer profile of 66.1% Singaporean, 19.4% PR, and 14.5% foreign — a higher international component than typical heartland condos, reflecting the expat rental demand that underpins the development’s investment thesis.
Location & Connectivity
Meraprime’s location is arguably its single most bankable asset. Tiong Bahru MRT (EW17, East-West Line) is approximately 140 metres from the development — effectively at the doorstep, and one of the closest MRT-to-condo distances in District 3. The East-West Line runs directly into the CBD (Raffles Place in 4 stops, Tanjong Pagar in 3), making Meraprime one of the most commuter-efficient addresses on the RCR island belt. For tenants working in the financial district, Raffles Quay, or Marina Bay, the daily commute is genuinely trivial.
Havelock MRT (TE16, Thomson-East Coast Line) is also accessible within the broader vicinity, extending connectivity north to Orchard and Novena and south-east along the TEL corridor. For residents, this dual-line access is a meaningful differentiator: even a single-line station outage does not strand commuters. Great World MRT (TE15) on the same Thomson-East Coast Line adds a third nearby node.
For daily errands, the walk from Meraprime to Tiong Bahru Plaza is under five minutes — the mall houses a Cold Storage supermarket, FairPrice, a food court, and dozens of retail and F&B options. The Seng Poh Road Market & Food Centre is a short walk through the conservation estate, offering some of the best hawker food in the inner city at prices that haven’t kept pace with the area’s gentrification. The Tiong Bahru Market & Food Centre is similarly close.
The Tiong Bahru conservation estate itself — Singapore’s oldest public housing estate, gazetted under the Conservation Master Plan — is directly walkable. The cluster of independent cafes, the Books Actually literary bookshop, artisan bakeries, and weekend brunch crowds on Yong Siak Street represents a lifestyle premium that cannot be easily replicated or demolished. For the professional expat tenant demographic that drives Meraprime’s rental market, this neighbourhood character is a genuine pull factor that justifies a rental premium over comparable D3 inventory further from the conservation core.
Schools & Education
1 primary school within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Gan Eng Seng School | secondary | Within 1 km |
| Gan Eng Seng Primary School | primary | Within 1 km |
| Henderson Secondary School | secondary | Within 1 km |
| Outram Secondary School | secondary | Within 1 km |
| Bukit Merah Secondary School | secondary | ~1.1 km |
| Kheng Cheng School | primary | ~1.2 km |
| Cantonment Primary School | primary | ~1.2 km |
| River Valley Primary School | primary | ~1.3 km |
Facilities
For a 213-unit development, Meraprime offers a well-rounded facilities suite that punches above its unit count. The development’s 36-storey tower sits atop a landscaped podium housing a swimming pool, fun pool, and Jacuzzi — a three-tier aquatic offering that is more generous than many single-pool condos in the same size bracket. A gymnasium, tennis court, fitness corner, BBQ pits, children’s playground, and function room complete the standard complement.
The standout feature is the rooftop sky garden at the top of the 36-storey tower. At this height, the sky garden delivers panoramic views across the Tiong Bahru conservation estate, the CBD skyline, Keppel Harbour, and on clear days, Sentosa and the southern islands. As a semi-private amenity for a 213-unit building, this is a genuine differentiator — the equivalent in a larger development would be shared among four or five times as many households.
One caveat commonly raised in resident reviews is that facilities maintenance and upkeep have been uneven over the development’s 18-year history. Some reviewers note that pool and gym equipment can show their age, and interior finishings in common areas reflect the 2006 era. Resident feedback on 99.co describes “pitiful condo facilities that are not well maintained” in some periods, though others counter with praise for the sheltered walkway from the MRT and the overall convenience. Prospective buyers should verify current MCST management quality and maintenance fund adequacy before committing.
Unit Sizes & Layout
Meraprime offers three residential configurations: 2-bedroom units at approximately 840 sqft, 3-bedroom units ranging from 1,098 to 1,227 sqft, and 4-bedroom units at approximately 1,313 sqft. At an average transacted price of S$2,094,617 and an average PSF of S$1,864, the implied average size is approximately 1,123 sqft — placing most transactions in the 3-bedroom range. By 2026 standards, these are genuinely functional unit sizes: the 3-bedroom at 1,098–1,227 sqft is meaningfully larger than the sub-800-sqft “3-bedroom” units common in new launches today.
The 36-storey tower format means that a significant proportion of units sit above the 20th floor, delivering elevated city and harbour views that add genuine intrinsic value. Unlike low-rise podium blocks where view obstruction by neighbouring developments is a perennial risk, Meraprime’s height provides a degree of view protection — particularly for upper-floor units facing south towards Keppel Harbour or north-east towards the CBD.
Unit layouts are efficient and rectangular by 2006 design standards, with few of the awkward angular geometries that characterise some contemporaries. The 3-bedroom configuration in particular works well for the tenant demographic — typically a family or professional household requiring a dedicated home office. Ceiling heights are standard for the era. Kitchens are functional but not open-plan; buyers intending to own-occupy typically budget S$30,000–S$60,000 for a kitchen and bathroom renovation to bring fixtures to contemporary standards.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 4 | $1,907 | $1,601,200 |
| 3 BR | 29 | $1,858 | $2,162,675 |
Pricing & Market Position
Based on 33 recorded transactions, sale prices range from $1,481,800 to $2,830,000, averaging $2,094,617 (~$2,127 psf).
Rents range from $3,900 to $8,700 per month across 294 rental transactions. Current rental yield sits at approximately 3.5%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 34.1% (from $1,607 to $2,155 psf).
Neighbourhood Comparison
In the D3 RCR landscape, Meraprime occupies a value-oriented niche relative to its newer neighbours. Principal Garden (99yr, 663 units, 2019 TOP) trades at approximately S$2,100–S$2,300 psf — a 12–23% premium over Meraprime, reflecting its newer lease and larger development scale, though unit sizes in new launches are significantly smaller. Riviere (99yr, 455 units, 2022 TOP, freehold equivalent positioning via 999yr for the conserved shophouses) commands S$2,400+ psf in recent transactions — a 30%+ premium reflective of its Robertson Quay frontage and premium developer positioning.
The Landmark (99yr, 396 units, 2024 TOP) represents the most direct competitive pressure: newly completed, at River Valley Road, and trading at S$2,600+ psf at launch. For investors evaluating new money, The Landmark and Meraprime represent opposite ends of the vintage-versus-lease trade-off. Meraprime wins on immediate rental yield and yield certainty (proven 293-transaction rental demand); The Landmark offers a fresher 99-year lease and contemporary finishings with no maintenance backlog.
The Interlace (99yr, 1,040 units, 2013 TOP) at Alexandra Road provides a direct size and vintage comparison. Interlace’s iconic stacked-block architecture generates significant facilities and lifestyle premium, and its 2013 lease is 10 years fresher than Meraprime’s. However, Interlace lacks the Tiong Bahru neighbourhood identity and MRT proximity that are Meraprime’s primary drivers. For pure rental investors, Meraprime’s 140m-to-MRT is likely a more reliable demand driver than Interlace’s architectural prestige.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| MERAPRIME | 99 yrs lease commencing from 2003 | 2006 | 213 | $2,127 |
| ZYON GRAND | 99 yrs lease commencing from 2024 | 2025 | 1,079 | $3,052 |
| AVENUE SOUTH RESIDENCE | 99 yrs lease commencing from 2018 | 2021 | 1,074 | $2,261 |
| STIRLING RESIDENCES | 99 yrs lease commencing from 2017 | 2021 | 1,259 | $2,275 |
| PENRITH | 99 yrs lease commencing from 2024 | 2025 | 462 | $2,796 |
| ONE PEARL BANK | 99 yrs lease commencing from 2019 | 2021 | 774 | $2,569 |
Lease Decay Analysis
The 99-year lease runs from 2003, meaning approximately 23 years have already been consumed. Roughly 76 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~76 years | Full bank financing available |
| 2033 | ~69 years | CPF usage still unrestricted for most buyers |
| 2042 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2062 | ~39 years | Significant financing restrictions for next buyer |
| 2102 | Expiry | Lease reverts to state |
For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~66 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates MERAPRIME across multiple dimensions.
What Residents Say
The resident and tenant mix at Meraprime reflects its dual identity as both an investment asset and a lifestyle address. Renters — who account for the vast majority of occupancy given the 8:1 rental-to-resale transaction ratio — are predominantly CBD-based professionals: bankers, lawyers, finance sector employees, and tech workers based in the greater Marina Bay and Tanjong Pagar corridor. The Tiong Bahru neighbourhood provides the independent-cafe, artisan-bakery, brunch-weekend lifestyle that resonates strongly with this demographic, particularly younger international professionals and expat families.
“Location is one to beat + sheltered walkway from MRT.”
— Resident review via Singapore Expats
“3 bedroom apartment rental at 5k plus has pitiful condo facilities that are not well maintained”
— Resident review via Singapore Expats
Owner-occupiers tend to be Singaporean professionals or returning PRs who prioritise the Tiong Bahru lifestyle and CBD accessibility over newer-lease alternatives in the OCR. The development’s 14.5% foreign buyer proportion is one of the higher rates for a development of this age and size in District 3, reflecting both the tenant base demographics and the investment liquidity profile. The Singapore Expats community rates Meraprime 8.6/10 based on resident reviews, a strong score for a development of this vintage.
Strengths & Weaknesses
- Tiong Bahru MRT (EW17) is ~140m away — essentially at the doorstep
- Dual-line access: EWL + TEL (Havelock TE16) nearby
- Exceptional rental demand: 293 rental transactions prove deep tenant pool
- ~3.5% gross yield in D3 inner-city — strong for RCR vintage asset
- Tiong Bahru conservation estate lifestyle: cafes, hawker food, bookshops
- 36-storey high-rise delivers elevated CBD and harbour views
- Rooftop sky garden — rare panoramic amenity for 213-unit development
- Practical 3BR unit sizes (1,098–1,227 sqft) — larger than new-launch equivalents
- MCL Land — reputable developer with strong Singapore track record
- Low speculative churn: 8:1 rental-to-resale ratio suggests long-term holder base
- 76-year remaining lease — will cross 60-year CPF threshold ~2042
- Facilities showing 18+ years of age; maintenance quality reportedly inconsistent
- Unit interiors dated by 2026 standards — budget for renovation on purchase
- No school within 1 km registration priority catchment (primarily investor profile)
- Relatively low resale transaction volume (33 transactions) — thin exit liquidity
- High-rise format means lift wait times during peak hours
- Tiong Bahru Plaza traffic can affect road access during weekends
Verdict
Meraprime is a textbook example of the income-generating inner-city RCR asset: a proof-of-concept investment property where the rental demand is not theoretical but empirically demonstrated through 293 rental transactions. For an investor seeking a Singapore residential property with immediate, predictable rental income from a deep tenant pool, Meraprime’s position — 140 metres from an EWL MRT station, in one of Singapore’s most desirable heritage neighbourhoods, at S$1,864 psf — is difficult to fault on a pure income basis.
The 76-year remaining lease is the primary caveat. At 76 years, Meraprime remains comfortably above the 60-year threshold below which CPF usage restrictions begin, and full bank financing is still available. For a medium-term hold of 10–15 years, the lease position is not a material constraint. However, buyers with a 20+ year horizon or those intending to pass the asset to the next generation should factor the lease decay trajectory into their exit modelling: the asset will cross the 60-year threshold around 2042, and the 50-year threshold in 2052 — both within a plausible ownership window for a buyer entering today.
For owner-occupiers, the trade-off is simpler: Tiong Bahru lifestyle, CBD-grade commute times, and genuine unit sizes at a meaningful discount to newer D3 inventory. The neighbourhood premium — the cafes, the conservation estate, the walkability — is real, durable, and unlikely to erode. Against a 10-year ownership horizon, these factors comfortably outweigh the facilities vintage and lease clock concerns.