One Bernam, the mixed-use development in Tanjong Pagar, launched 87 units for sale over the weekend of Jan 11 to 12. The project, which has a total of 351 residential units, is a collaboration between developers MCC Land and Hao Yuan Investment.
According to data from caveats lodged as at Jan 10, over 75% of the units have already been sold at an average price of $2,585 per square foot (psf). The developers are offering promotional prices for the remaining units, consisting of one to three-bedroom apartments and penthouses.
Buyers can find out more about One Bernam by searching for the latest new launches. This will provide information on transaction prices and available units for those interested in the project.
Discounts are available for one-bedroom units ranging from 441 to 463 square feet, with price cuts of $323,000 to $438,000. These units have been sold at prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). Two-bedroom units of 700 to 732 square feet also saw discounts of $437,000 to $668,000, with units selling for $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf).
Meanwhile, two-bedroom plus study units of 807 to 872 square feet have discounts ranging from $380,000 to $800,000, and have been sold at prices between $2.139 million ($2,581 psf) and $2.158 million ($2,475 psf).
Three-bedroom apartments of 1,421 square feet have been sold at $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf), with discounts ranging from $616,000 to $830,000.
Out of the total buyers, about 78% purchased the units as investments, according to ERA Singapore CEO Marcus Chu. He also mentioned that 87% of the buyers are Singaporeans, with 70% in the 31-50 age group.
Due to an “overwhelming response” over the weekend, only three penthouses remain available for sale, bringing the total sales to 99%. These include two three-bedroom penthouses sized 1,744 and 1,948 square feet, and a five-bedroom unit of 4,306 square feet.
One Bernam is scheduled to obtain a Temporary Occupation Permit (TOP) in March 2026. This means that investors can expect to start generating rental income from their units, which can help to support their loan payments, according to Chu.
Current monthly rental rates for existing condos in the area, such as Altez, Eon Shenton and 76 Shenton, range from $6.90 psf to $7.40 psf, based on data from EdgeProp Landlens.
Chu predicts that local demand will continue to be the main driver for properties in the Central Core Region (CCR). With competitive pricing, these developments are expected to remain a desirable and stable investment option for buyers. The recent hike in Additional Buyer’s Stamp Duty (ABSD) for foreign buyers has also opened up more opportunities for local buyers to enter the market.