Over the weekend of Jan 11 to 12, One Bernam, a mixed-use development in Tanjong Pagar consisting of 351 residential units, launched a promotional sale of 87 units. Developed by MCC Land and Hao Yuan Investment, the 99-year leasehold apartment tower had its first launch in May 2021. As of Jan 10, more than 75% of the units had been sold at an average price of $2,585 psf based on caveats lodged.
During the weekend promotion, the discounted prices were applicable to all the remaining 87 units, which included one-bedroom, two-bedroom, three-bedroom, and penthouse units. Interested buyers can visit the website to check for the latest New Launches to find out the transaction prices and available units.
One-bedroom units ranging from 441 sq ft to 463 sq ft were offered with discounts of $323,000 to $438,000, with prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). The two-bedroom apartments (700 sq ft to 732 sq ft) were offered with discounts of $437,000 to $668,000, with prices ranging from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Similarly, the two-bedroom plus study units (807 sq ft to 872 sq ft) had discounts ranging from $380,000 to $800,000 and were sold at prices ranging from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf).
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For the three-bedroom units (1,421 sq ft), discounts of $616,000 to $830,000 were given, with prices ranging from $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf). Only three penthouses are currently available for sale, bringing total sales to 99%. These include two three-bedroom penthouses with sizes of 1,744 sq ft and 1,948 sq ft, while the remaining unit is a 4,306 sq ft five-bedroom penthouse.
According to Marcus Chu, CEO of ERA Singapore, the sales performance of One Bernam highlights “the strong interest in the property as a stable and high-potential asset”. He adds that approximately 78% of the buyers bought their units as investments, and 87% of the buyers were Singaporeans, with 70% of them aged between 31 and 50.
Following the “overwhelming response” during the weekend launch, only three penthouses are currently available for sale, bringing total sales to 99%. The project is scheduled to obtain a Temporary Occupation Permit (TOP) in March 2026, and investors are expected to start generating rental income, which could support their loan instalments. Based on EdgeProp Landlens data, the average monthly rental rates of 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 says that the reduced competition from foreign buyers due to the hike in Additional Buyer’s Stamp Duty (ABSD) imposed in 2023 has opened up more opportunities for local buyers to enter the market. He adds that local demand is expected to continue being the key driver for properties in the Central Core Region (CCR), with competitive pricing making these developments a desirable and stable investment choice.
Interested buyers can check out the latest listings for One Bernam properties and ask Buddy for assistance. They can also compare the price trend of new sale condos vs resale condos or check the buyer profile for One Bernam on the website.