One Bernam, the mixed-use development located in Tanjong Pagar, offered 87 units at promotional prices over the weekend of Jan 11 and 12. The project, which has 351 residential units and is jointly developed by MCC Land and Hao Yuan Investment, was first launched in May 2021. As of Jan 10, over 75% of the units have been sold at an average price of $2,585 psf.
The promotional prices applied to all the remaining 87 units, including one-bedroom to three-bedroom units and penthouses. Interested buyers can search for the latest New Launches to get more information on transaction prices and available units.
One-bedroom units, ranging 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). Two-bedroom units, ranging from 700 sq ft to 732 sq ft, saw discounts of $437,000 to $668,000 and were sold at prices ranging from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Two-bedroom plus study units, ranging from 807 sq ft to 872 sq ft, saw discounts of $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). Three-bedroom units, at 1,421 sq ft, saw discounts of $616,000 to $830,000, with prices ranging from $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).
Marcus Chu, CEO of ERA Singapore, commented that the strong sales performance reflects the high interest in the property as a stable and valuable asset. He added that 78% of the purchasers bought their units as investments, with 87% being Singaporeans and 70% being aged between 31 and 50.
As a result of the overwhelming response over the weekend, only three penthouses are now available for sale, bringing the total sales to 99%. The remaining penthouses include two units of three-bedroom penthouses with sizes of 1,744 sq ft and 1,948 sq ft, and one unit of 4,306 sq ft with five bedrooms.
According to Chu, the project is due for completion in March 2026 and by then, investors can expect to start generating rental income, which will help with their loan instalments. Data from EdgeProp Landlens shows that existing condos in the area such as Altez, 76 Shenton, and EON Shenton are able to fetch monthly rents ranging from $6.90 psf to $7.40 psf.
Chu also noted that the reduced competition from foreign buyers due to the increase in Additional Buyer’s Stamp Duty (ABSD) in 2023 has opened up more opportunities for local buyers to enter the market. Moving forward, he believes that local demand will continue to be the key driver for CCR properties, 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 enquire for more information.