THE MAKENA
UrbanLens Analysis
THE MAKENA commands $2,127 PSF -- 26% above what District 15 typically fetches ($1,689 PSF). Tanjong Katong MRT sits just 396m away (5-min walk), a clear connectivity win. Against MEYER BLUE at $3,205 PSF, the 34% discount is worth examining closely.
Prices have surged 16.0% in two years. That is strong performance, though buyers entering now face elevated downside risk. With 30 deals in two years, the pricing data has reasonable statistical weight. For context, TEMBUSU GRAND has lost 1.7% over the same period.
Being freehold means zero lease-decay anxiety. Full CPF eligibility, maximum LTV, and a universally bankable asset. The 2.5% yield trails the RCR average of 3.5%. At $5,934/month median rent, this is a capital-appreciation bet, not an income play.
At 504 units, this is a mega-development. Maintenance economies and extensive amenities are the upside; oversupply during downturns is the risk.
Nearby Comparables
| Development | Median PSF | Yield | 2Y Change |
|---|---|---|---|
| EMERALD OF KATONG | $2,628 | — | 0.0% |
| THE CONTINUUM | $2,869 | — | +5.0% |
| GRAND DUNMAN | $2,533 | — | +0.4% |
| TEMBUSU GRAND | $2,419 | — | -1.7% |
| MEYER BLUE | $3,205 | — | 0.0% |
PSF Trend
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