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From January 11 to 12, One Bernam, a mixed-use development in Tanjong Pagar, offered 87 units for sale at promotional prices. The project, which has a 99-year leasehold and 351 residential units, is a joint venture by MCC Land and Hao Yuan Investment and was first launched in May 2021. As of January 10, over 75% of the units had been sold at an average price of $2,585 psf.
During the weekend promotion, prices were discounted for all remaining units, including one-bedroom to three-bedroom apartments and penthouses. To see the transaction prices and available units, you can search for the latest New Launches.
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Singapore has become a desirable destination for investors, both local and international, who are looking to purchase a condominium. The country’s thriving economy, stable political landscape, and high standard of living make it an attractive option for buyers. The real estate market in Singapore offers a plethora of prospects, with condominiums being a popular choice due to their convenience, amenities, and potential for lucrative returns. With a wide range of Singapore Projects to select from, it’s important to understand the benefits, considerations, and necessary steps involved when investing in a condo in this dynamic city-state.
One-bedroom units, ranging from 441 sq ft to 463 sq ft, had discounts of $323,000 to $438,000, with prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). Two-bedroom apartments, sized from 700 sq ft to 732 sq ft, had discounts of $437,000 to $668,000 and were sold at prices from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Two-bedroom plus study units, ranging from 807 sq ft to 872 sq ft, had discounts of $380,000 to $800,000 and were sold at prices ranging from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf).
Three-bedroom apartments, sized at 1,421 sq ft, had discounts ranging from $616,000 to $830,000 and were sold at prices from $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf). According to ERA Singapore CEO Marcus Chu, the strong interest in the property as a stable and high-potential asset is evident from the sales performance. He also notes that 78% of the purchasers bought their units as investments, with 87% being Singaporeans and 70% aged between 31 and 50.
After the weekend promotion, only three penthouses are available for sale, bringing the total sales to 99%. These include two three-bedroom penthouses sized at 1,744 sq ft and 1,948 sq ft, and a five-bedroom penthouse measuring 4,306 sq ft.
The project is expected to obtain a Temporary Occupation Permit (TOP) in March 2026, which means investors can start generating rental income to support their loan instalments. Existing condos in the area such as Altez, 76 Shenton and EON Shenton, have monthly rents ranging from $6.90 psf to $7.40 psf (Source: EdgeProp Landlens).
With the reduction in competition from foreign buyers due to the increase in Additional Buyer’s Stamp Duty (ABSD) in 2023, there are more opportunities for local buyers to enter the market. Chu expects local demand to continue driving Central Core Region (CCR) properties, with competitive pricing making these developments a desirable and stable investment choice. You can check out the latest listings for One Bernam properties to get more information about the project.