Over the weekend of Jan 11 to 12, One Bernam, a mixed-use development with 351 residential units located in the heart of Tanjong Pagar, launched a promotion for 87 of its remaining units.
Developed by joint developers MCC Land and Hao Yuan Investment, the 99-year leasehold apartment tower had initially launched in May 2021 and has already recorded a strong sales record. As of Jan 10, over 75% of the units have been sold at an average price of $2,585 psf based on caveats lodged.
During the weekend promotion, all remaining units, including one-bedroom to three-bedroom units and penthouses, were offered at promotional prices.
Interested buyers can visit New Launches to find out the available units and transaction prices.
The one-bedroom units, which range from 441 sq ft to 463 sq ft, saw discounts of $323,000 to $438,000, with prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). Similarly, the two-bedroom units, with sizes ranging from 700 sq ft to 732 sq ft, offered discounts from $437,000 to $668,000, with prices from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). The two-bedroom plus study units, which range from 807 sq ft to 872 sq ft, had discounts ranging from $380,000 to $800,000, and were sold at prices from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf).
The three-bedroom units, with a size of 1,421 sq ft, offered discounts ranging from $616,000 to $830,000, with prices from $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).
Out of all the units sold, about 78% were purchased as investments, according to Marcus Chu, CEO of ERA Singapore. Additionally, 87% of the buyers were Singaporeans, with 70% falling in the age range of 31 to 50.
Following the overwhelming response over the weekend, only three penthouses remain available for sale, bringing the total sales to 99%. These include two units of three-bedroom penthouses with sizes of 1,744 sq ft and 1,948 sq ft, and a five-bedroom unit with a size of 4,306 sq ft.
To sum up, the decision to invest in a condominium in Singapore can bring about numerous benefits. These include a high demand for the property, potential for growth in value, and attractive rental yields. However, it is crucial to carefully take into account various factors such as the condominium’s location, financing options, government regulations, and the current market conditions. By conducting thorough research and seeking professional advice, investors can make well-informed decisions and maximize their returns in the dynamic real estate market of Singapore. Whether you are a local investor looking to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, the latest launches of new condos in Singapore provide a compelling opportunity to achieve your investment goals. So, consider all aspects carefully and make a wise investment choice. Don’t forget to check out New Condo Launches for the latest updates and options.
One Bernam is scheduled to obtain a Temporary Occupation Permit (TOP) in March 2026, which is expected to start generating rental income for investors and supporting their loan instalments.
Based on rental data from EdgeProp Landlens, existing condo projects in the area, such as Altez, Eon Shenton, and 76 Shenton, have average monthly rents ranging from $6.90 psf to $7.40 psf.
Looking ahead, Chu believes that the reduced competition from foreign buyers due to the hike in Additional Buyer’s Stamp Duty (ABSD) imposed in 2023 will open up more opportunities for local buyers to enter the market. He also expects local demand to continue driving the property market in the Central Core Region (CCR), with competitive pricing making developments like One Bernam an attractive and stable investment option.
For more information on One Bernam properties, interested buyers can visit Ask Buddy, view recent sale transactions, compare prices of HDBs, condos, and landed properties, view the total number of units in One Bernam, and track the price trend for the development.