By adpOne Bernam, the mixed-use development in Tanjong Pagar, offered 87 units for sale at promotional prices over the weekend of Jan 11 to 12. The project, which has a 99-year leasehold and consists of 351 residential units, is a joint venture by MCC Land and Hao Yuan Investment.
Launched in May 2021, One Bernam has seen healthy sales with over 75% of its units sold as of Jan 10, at an average price of $2,585 psf.
During the weekend promotion, the remaining 87 units – ranging from one-bedroom to three-bedroom units and penthouses – were offered at discounted prices.
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For the one-bedroom units, which range from 441 sq ft to 463 sq ft, discounts of $323,000 to $438,000 were offered, with units sold at prices between $1.295 million ($2,934 psf) and $1.328 million ($2,869 psf).
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Meanwhile, prices of two-bedroom units (700 sq ft to 732 sq ft) were discounted by $437,000 to $668,000, with units sold at prices between $1.752 million ($2,394 psf) and $1.78 million ($2,544 psf).
For the two-bedroom plus study units (807 sq ft to 872 sq ft), discounts ranging from $380,000 to $800,000 were offered, with units sold at prices between $2.139 million ($2,581 psf) and $2.158 million ($2,475 psf).
For three-bedroom units (1,421 sq ft), buyers enjoyed discounts ranging from $616,000 to $830,000, with units sold at prices between $3.496 million ($2,461 psf) and $3.526 million ($2,482 psf).
According to Marcus Chu, CEO of ERA Singapore, the project’s sales performance reflects strong interest and potential for the property as a stable asset. He also shared that about 78% of purchasers bought units as investments, with 87% of the buyers being Singaporeans aged between 31 and 50.
Following the overwhelming response over the weekend, only three penthouses are still available for sale, bringing the total sales to 99%. These include two three-bedroom penthouses of 1,744 sq ft and 1,948 sq ft, and one five-bedroom unit of 4,306 sq ft.
As the project is expected to obtain a Temporary Occupation Permit (TOP) in March 2026, investors can start generating rental income to support their loan instalments. Based on EdgeProp Landlens data, existing apartment projects in the area, such as Altez, Eon Shenton, and 76 Shenton, command rental rates ranging from $6.90 psf to $7.40 psf.
Looking ahead, Chu believes that the reduced competition from foreign buyers due to the increased Additional Buyer’s Stamp Duty (ABSD) in 2023 has opened up more opportunities for local buyers to enter the market. He also states that local demand is expected to continue driving the Central Core Region (CCR) properties, with competitive pricing making these developments an attractive and stable investment choice.
Stay updated on One Bernam properties by checking out the latest listings and price trends on EdgeProp Buddy. You can also compare the price trends of new sale condos and resale condos, as well as check out the buyer profile for One Bernam.
Additionally, browse through upcoming new launch projects and condo rental listings in District 2 to stay informed about the latest property developments.…