Over the January 11 to 12 weekend, One Bernam, a mixed-use development in Tanjong Pagar, offered 87 units for sale at promotional prices. The 99-year leasehold apartment tower, a joint venture between MCC Land and Hao Yuan Investment, was first launched in May 2021. As of January 10, over 75% of the 351 residential units have been sold at an average price of $2,585 per square foot (psf).
During the weekend promotion, the discounted prices were applied to all remaining units, including one-bedroom to three-bedroom units and penthouses. Interested buyers can search for the latest New Launches to find out about transaction prices and available units.
The discounted prices for one-bedroom units, ranging from 441 sq ft to 463 sq ft, were between $323,000 to $438,000. These units were sold at $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). Similarly, two-bedroom apartments, sized at 700 sq ft to 732 sq ft, had discounts from $437,000 to $668,000 and were sold at $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Two-bedroom plus study apartments, with sizes of 807 sq ft to 872 sq ft, saw discounts ranging from $380,000 to $800,000 and were sold at $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf).
For three-bedroom apartments, which are sized at 1,421 sq ft, discounts ranged from $616,000 to $830,000. These units were sold at $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf). Only three penthouses are currently available for sale after the “overwhelming response” over the weekend, bringing the total sales to 99%. These include two three-bedroom units (1,744 sq ft and 1,948 sq ft) and a five-bedroom unit (4,306 sq ft).
According to ERA Singapore CEO Marcus Chu, the strong sales performance indicates a high level of interest in the property as a long-term asset. He adds that about 78% of the buyers are looking to invest in One Bernam. An overwhelming 87% of buyers were Singaporeans, with 70% aged between 31 and 50.
With the reduced competition from foreign buyers due to the increase in Additional Buyer’s Stamp Duty (ABSD) in 2023, Chu believes this opens up more opportunities for local buyers to enter the market. Moving forward, he expects local demand to continue driving prices in the Central Core Region (CCR), with competitive pricing making developments in this area a desirable and stable investment choice.
One Bernam is expected to obtain a Temporary Occupation Permit (TOP) in March 2026, which will allow investors to start generating rental income to support their loan instalments. Based on EdgeProp Landlens data, 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.