Over the weekend of January 11 to 12, One Bernam, the mixed-use development in Tanjong Pagar, offered 87 units for sale at special prices. The development, which consists of 351 residential units, is a 99-year leasehold project jointly developed by MCC Land and Hao Yuan Investment. It was first launched in May of 2021, and based on caveats lodged as of January 10, over 75% of the units have already been sold at an average price of $2,585 per square foot.
During the weekend promotion, the discounted prices applied to all remaining 87 units, including one-bedroom to three-bedroom units and penthouses. Interested buyers can visit the project’s website to check the latest transaction prices and available units.
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The one-bedroom units, ranging from 441 square feet to 463 square feet, were offered at discounted prices of $323,000 to $438,000, with units selling at prices between $1.295 million ($2,934 per square foot) and $1.328 million ($2,869 per square foot). Two-bedroom apartments, sized from 700 square feet to 732 square feet, saw discounts ranging from $437,000 to $668,000, with units priced at $1.752 million ($2,394 per square foot) to $1.78 million ($2,544 per square foot). The two-bedroom plus study units, measuring 807 square feet to 872 square feet, had discounts ranging from $380,000 to $800,000 and were sold at prices between $2.139 million ($2,581 per square foot) to $2.158 million ($2,475 per square foot).
The three-bedroom apartments, totaling 1,421 square feet, were discounted by $616,000 to $830,000, with the units selling at $3.496 million ($2,461 per square foot) to $3.526 million ($2,482 per square foot). As of now, only three penthouses are available for sale, bringing the total sales to 99%. These include two three-bedroom penthouses measuring 1,744 square feet and 1,948 square feet, and one five-bedroom penthouse measuring 4,306 square feet.
According to Marcus Chu, CEO of ERA Singapore, the strong sales performance reflects the high interest in the property as a stable and high-potential asset. He adds that 78% of the buyers purchased their units as investments, and 87% of the buyers were Singaporeans, with 70% aged between 31 and 50.
Following the overwhelming response over the weekend, only three penthouses are currently available for sale, bringing 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.
The project is scheduled to obtain a Temporary Occupation Permit (TOP) in March 2026, which means investors are expected to start generating rental income, which could support their loan instalments, according to Chu. Based on EdgeProp Landlens data, average monthly rents of existing apartment projects in the area, such as Altez, Eon Shenton and 76 Shenton, command rental rates ranging from $6.90 psf to $7.40 psf.
Chu also notes 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 believes that local demand will continue to be the key driver for Central Core Region (CCR) properties moving forward, with competitive pricing making these developments a desirable and stable investment choice. Interested buyers can check out the latest listings and ask about prices and units available at One Bernam through the project’s website. They can also compare the price trend of new sale condos versus resale condos and view upcoming new launch projects. Additionally, they can take a look at any condo rental listings in District 2 and explore the buyer profile for One Bernam.