Over the weekend of Jan 11 to 12, One Bernam, a mixed-use development in Tanjong Pagar, offered 87 units for sale at promotional prices. Developed by MCC Land and Hao Yuan Investment, the 99-year leasehold apartment tower was initially launched in May 2021. As of Jan 10, over 75% of the units had already been sold at an average price of $2,585 psf, according to caveats lodged.
During the weekend promotion, all remaining 87 units, ranging from one-bedroom to three-bedroom units and penthouses, were offered at discounted prices. Interested buyers can browse New Launches to view the latest transaction prices and available units.
One-bedroom units, ranging from 441 sq ft to 463 sq ft, were sold at prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf), with discounts of $323,000 to $438,000. Two-bedroom apartments, sized from 700 sq ft to 732 sq ft, had discounts of $437,000 to $668,000, and were sold at prices of $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Two-bedroom plus study apartments, ranging from 807 sq ft to 872 sq ft, saw discounts of $380,000 to $800,000 and were sold at prices from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf). Three-bedroom apartments, sized at 1,421 sq ft, had discounts of $616,000 to $830,000, with units sold at prices ranging from $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).
As of now, only three penthouses are still available for sale, bringing the total sales to 99%. These include two three-bedroom penthouses, sized at 1,744 sq ft and 1,948 sq ft, and one five-bedroom penthouse, sized at 4,306 sq ft.
According to Marcus Chu, CEO of ERA Singapore, the strong sales performance reflects the interest in One Bernam as a stable and high-potential asset. He also notes that 78% of the purchasers bought their units as investments, and 87% of them are Singaporeans, with 70% aged between 31 and 50.
Following the overwhelming response over the weekend, only three penthouses are currently available for sale, bringing the total sales to 99%. It includes two units of three-bedroom penthouses with sizes of 1,744 sq ft and 1,948 sq ft, while the remaining unit is 4,306 sq ft in size and comprises five bedrooms.
With the project expected to obtain Temporary Occupation Permit (TOP) in March 2026, investors are expected to start generating rental income, which can help support their loan payments. According to data from EdgeProp Landlens, existing condos in the area, such as Altez, 76 Shenton, and EON Shenton, are commanding monthly rents ranging from $6.90 psf to $7.40 psf.
Chu also notes that the reduction in competition from foreign buyers due to the increased Additional Buyer’s Stamp Duty (ABSD) imposed in 2023 has opened up more opportunities for local buyers to enter the market. He predicts that local demand will continue to be the main driver for properties in the Central Core Region (CCR), with competitive pricing making these developments an attractive and stable investment option.