Over the weekend of January 11 and 12, One Bernam, a mixed-use development with 351 residential units located in Tanjong Pagar, launched a promotional sale of 87 units.
The 99-year leasehold apartment tower, developed by MCC Land and Hao Yuan Investment, was first introduced in May 2021. As of January 10, over 75% of the units have been sold at an average price of $2,585 per square foot (psf), based on caveats lodged.
The promotional prices were applicable to all remaining units, which included one-bedroom to three-bedroom units, as well as penthouses. Interested buyers can search for the latest New Launches to find out about the transaction prices and available units.
For one-bedroom units, which range from 441 square feet to 463 square feet, there were discounts of $323,000 to $438,000. These units were sold at prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). Two-bedroom apartments, ranging from 700 square feet to 732 square feet, saw discounts of $437,000 to $668,000, with units sold at prices from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). As for the two-bedroom plus study units, which range from 807 square feet to 872 square feet, there were discounts ranging from $380,000 to $800,000. These units were sold at prices ranging from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf).
Three-bedroom apartments, with a size of 1,421 square feet, were sold at prices between $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf), after discounts ranging from $616,000 to $830,000.
According to ERA Singapore CEO Marcus Chu, the sales performance highlights the strong interest in the property as a stable and high-potential asset. Chu adds that around 78% of the buyers purchased their units as investments. Moreover, 87% of the buyers were Singaporeans, with 70% aged between 31 to 50.
Following the overwhelming response over the weekend, only three penthouses are currently available for sale, bringing total sales to 99%. These include two three-bedroom penthouses with sizes of 1,744 square feet and 1,948 square feet, and a remaining unit of 4,306 square feet with five bedrooms.
As the project is set to obtain a Temporary Occupation Permit (TOP) in March 2026, investors are expected to start generating rental income, which can support their loan instalments, according to Chu. Based on data from EdgeProp Landlens, average monthly rents of existing apartment projects in the area, such as Altez, Eon Shenton, and 76 Shenton, range from $6.90 psf to $7.40 psf.
Looking ahead, Chu says that the reduced competition from foreign buyers due to the hike in Additional Buyer’s Stamp Duty (ABSD) imposed in 2023 has opened up more opportunities for local buyers to enter the market. He also adds that local demand is expected to continue driving Central Core Region (CCR) properties, with competitive pricing making these developments a desirable and stable investment choice.
The city of Singapore is renowned for its impressive skyline, dominated by impressive skyscrapers and advanced infrastructure. Amongst these modern structures, lie lavish condominiums that are strategically situated in highly sought-after locations, making them a highly desirable choice for both locals and expats. These residential developments boast a perfect combination of luxury and practicality, offering top-of-the-line amenities such as swimming pools, fitness centers, and around-the-clock security services. These facilities not only enhance the living standards of residents but also make these condos an appealing investment opportunity for potential tenants and buyers. Moreover, with the continuous introduction of new condo launches, the value of these properties is expected to appreciate over time, making them a lucrative investment for investors seeking high rental yields and long-term returns. For the latest updates on new condo launches, visit www.mentorshiponline.com.
Interested buyers can check out the latest listings for One Bernam properties and also make use of the tools such as Price trend chart for One Bernam, Upcoming new launch projects, Any condo rental listings in District 2, and Compare price trend of New sale condo vs Resale condo, to make an informed decision.