There was a successful sales weekend for One Bernam, the mixed-use development located in Tanjong Pagar with 351 residential units. The joint developers, MCC Land and Hao Yuan Investment, offered 87 units for sale at promotional prices from Jan 11 to 12.
First launched in May 2021, this 99-year leasehold apartment tower has already sold over 75% of its units as of Jan 10. The average price per square foot (psf) stands at $2,585 based on caveats lodged.
The promotional prices applied to all remaining 87 units, including one-bedroom to three-bedroom units, and penthouses. Interested buyers can search for the latest New Launches to find out transaction prices and available units.
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Investing in condos can bring numerous benefits, one of which is the opportunity to leverage the property’s value for further investments. This means that condo owners can use their units as collateral to secure additional financing for new investments. This allows them to grow their real estate portfolio by diversifying their investments. With the constant introduction of New Condo Launches, there are plenty of options for investors to consider. However, this strategy also comes with risks, so it is important to have a solid financial plan in place and carefully consider the potential impact of market fluctuations before making any decisions.
One-bedroom units, ranging from 441 sq ft to 463 sq ft, received price discounts of $323,000 to $438,000, with units sold between $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). Two-bedroom units measuring between 700 sq ft to 732 sq ft saw discounts from $437,000 to $668,000, with units sold for $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Two-bedroom plus study units, which range from 807 sq ft to 872 sq ft, received discounted prices from $380,000 to $800,000. The units were sold between $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf).
The three-bedroom apartments, with sizes of 1,421 sq ft, had discounts from $616,000 to $830,000 and were sold for $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).
Out of the buyers, 78% purchased units as investments, according to ERA Singapore CEO Marcus Chu. He also mentioned that 87% of the buyers were Singaporeans, with 70% between the ages of 31 to 50.
With the overwhelming response over the weekend, only three penthouses are now available for sale, and sales have reached 99%. Two three-bedroom penthouses with sizes of 1,744 sq ft and 1,948 sq ft, and one five-bedroom unit with 4,306 sq ft are still available.
As the project is expected to obtain a Temporary Occupation Permit (TOP) in March 2026, investors can start generating rental income, which can support their loan instalments, according to Chu.
The average monthly rents for existing apartment projects in the area, like Altez, Eon Shenton, and 76 Shenton, range from $6.90 psf to $7.40 psf, according to EdgeProp Landlens data. In the future, Chu believes that local demand will continue to be the key driver for Central Core Region (CCR) properties, with competitive pricing making these developments an attractive and stable investment option.
Due to the increase in Additional Buyer’s Stamp Duty (ABSD) imposed in 2023, the reduced competition from foreign buyers has opened up more opportunities for local buyers to enter the market.
Search for the latest listings for One Bernam properties to see what’s available. You can also check out the price trend chart for One Bernam and compare the price trend of new sale condos vs resale condos. For more information on the buyer profile of One Bernam, there are many resources available, including the price chart, upcoming new launch projects, any condo rental listings in District 2, and condo rental listings in the area.