One Bernam Nears Sellout 99 Sales After Weekend Promotion Only Three Penthouses Left
Last weekend, One Bernam in Tanjong Pagar, a mixed-use development with 351 residential units, offered 87 units for sale at special prices. The 99-year leasehold project by MCC Land and Hao Yuan Investment was first launched in May 2021. As of Jan 10, more than 75% of the units had been sold at an average price of $2,585 psf, based on caveats lodged.
During the promotion, the discounted prices applied to all remaining 87 units, including one- to three-bedroom units and penthouses. Interested buyers can search for the latest New Launches to find out the transaction prices and available units.
One-bedroom units ranging from 441 sq ft to 463 sq ft were sold at prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf), with discounts of $323,000 to $438,000. Meanwhile, the two-bedroom units of 700 sq ft to 732 sq ft were sold at prices ranging from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf) after a discount of $437,000 to $668,000.
Units for the two-bedroom plus study type, which ranged from 807 sq ft to 872 sq ft, were sold at prices ranging from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf) after a discount of $380,000 to $800,000.
Three-bedroom units measuring 1,421 sq ft were sold at $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf) after a discount of $616,000 to $830,000.
One Bernam showflat. Photo: MCC Land
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According to Marcus Chu, CEO of ERA Singapore, the strong sales performance reflects the high potential of One Bernam as a stable asset. He also notes that 78% of the buyers purchased the units as investments. Out of the total buyers, 87% were Singaporeans, with 70% of them aged between 31 and 50.
Following the overwhelming response from the weekend promotion, only three penthouses are currently available for sale, bringing the total sales to 99%. These include two penthouses with three bedrooms and sizes of 1,744 sq ft and 1,948 sq ft, and one five-bedroom penthouse measuring 4,306 sq ft.
Chu predicts that investors can start generating rental income from the project, which is scheduled to obtain a Temporary Occupation Permit (TOP) in March 2026. This income can then support their loan instalments.
Based on data from EdgeProp Landlens, the average monthly rents of existing developments in the area, such as Altez, Eon Shenton and 76 Shenton, range from $6.90 psf to $7.40 psf. According to Chu, the reduced competition from foreign buyers, due to the hike in Additional Buyer’s Stamp Duty (ABSD) imposed in 2018, has opened up more opportunities for local buyers to enter the market.
He also adds that local demand is expected to continue driving the Central Core Region (CCR) property market in the future, with competitive pricing making these developments an attractive and stable investment option. For more information on One Bernam properties, refer to the latest listings and consult the Ask Buddy feature for price trends and buyer profiles.