On the weekend of Jan 11 to 12, One Bernam, a mixed-use development with 351 residential units located in Tanjong Pagar, launched a promotional sale of 87 units. The 99-year leasehold apartment tower, developed by MCC Land and Hao Yuan Investment, was first introduced to the market in May 2021. As of Jan 10, over 75% of the units have been sold at an average price of $2,585 psf, based on caveats lodged.
For the weekend promotion, all remaining units, including one-bedroom to three-bedroom units and penthouses, were sold at discounted prices. Interested buyers can check the latest New Launches to find out transaction prices and available units.
Prices for one-bedroom units, ranging from 441 sq ft to 463 sq ft, received discounts of $323,000 to $438,000, with units selling at prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). Meanwhile, two-bedroom apartments, ranging from 700 sq ft to 732 sq ft, were offered at discounted prices of $437,000 to $668,000, with units selling at prices between $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). The two-bedroom plus study units, ranging from 807 sq ft to 872 sq ft, also received discounts ranging from $380,000 to $800,000. These units were sold at prices ranging from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf).
Three-bedroom units, measuring 1,421 sq ft, received discounts of $616,000 to $830,000, with units selling at $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).
According to Marcus Chu, CEO of ERA Singapore, the strong sales performance indicates a high level of interest in the property as a stable and high-potential asset. He also notes that 78% of the purchasers bought their units as investments, with 87% of the buyers being Singaporeans, with 70% between the ages of 31 and 50.
Following the overwhelming response over the weekend, only three penthouses are still available for sale, bringing total sales to 99%. These include two three-bedroom penthouses, measuring 1,744 sq ft and 1,948 sq ft, and a five-bedroom penthouse measuring 4,306 sq ft.
As the project is expected to obtain a Temporary Occupation Permit (TOP) in March 2026, investors can look forward to generating rental income that can support their loan instalments, Chu believes. Based on data from EdgeProp Landlens, average monthly rents for existing apartment projects in the area, such as Altez, Eon Shenton and 76 Shenton, range from $6.90 psf to $7.40 psf.
Looking ahead, Chu notes that the current reduction in competition from foreign buyers due to the hike in Additional Buyer’s Stamp Duty (ABSD) imposed in 2023 presents more opportunities for local buyers to enter the market. He believes that local demand will continue to be the key driver for properties in the Central Core Region (CCR), with competitive pricing making these developments an attractive and stable investment choice. Interested buyers can check out the latest listings for One Bernam properties, or compare the price trend of HDB, condo, and landed homes. They can also browse through recently launched projects and projects that have recently obtained TOP, and find out more about the tenure of One Bernam and the buyer profile for this development.