The scarcity of land in Singapore has made condos a highly sought-after property investment. Being a small island nation with a rapidly expanding population, Singapore faces a shortage of land for development. As a result, there are strict regulations on land use and a fiercely competitive real estate market with continually rising property prices. This has made purchasing real estate, specifically condos, a profitable venture, with the potential for significant capital appreciation. Stay updated with the latest New Condo Launches to make informed investment decisions.
One Bernam, the 99-year leasehold mixed-use development in Tanjong Pagar, offered 87 units for sale at promotional prices over the weekend of Jan 11 to 12. Jointly developed by MCC Land and Hao Yuan Investment, the apartment tower was first launched in May 2021. As of Jan 10, over 75% of the 351 residential units have already been sold at an average price of $2,585 psf, based on caveats lodged.
During the weekend promotion, the discounted prices applied to all remaining 87 units, including one-bedroom to three-bedroom units and penthouses. To find out the transaction prices and available units, you can search for the latest new launches.
The one-bedroom units, ranging from 441 sq ft to 463 sq ft, saw discounts of $323,000 to $438,000, with prices ranging from $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). Similarly, the two-bedroom apartments, sized from 700 sq ft to 732 sq ft, were offered at discounted prices of $437,000 to $668,000, with units sold at $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). The two-bedroom plus study units of 807 sq ft to 872 sq ft had price discounts ranging from $380,000 to $800,000, with units sold at prices from $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf).
The three-bedroom apartments, measuring 1,421 sq ft, had discounts ranging from $616,000 to $830,000, with units sold at $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).
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 purchasers bought their units as investments, with 87% being Singaporeans and 70% aged between 31 and 50.
After the overwhelming response over the weekend, only three penthouses remain available for sale, bringing the total sales to 99%. These include two three-bedroom units of sizes 1,744 sq ft and 1,948 sq ft, and one five-bedroom unit measuring 4,306 sq ft.
One Bernam is expected to obtain a Temporary Occupation Permit (TOP) in March 2026, generating rental income for investors and supporting their loan instalments. Existing condos in the area, such as Altez, 76 Shenton, and EON Shenton, are fetching monthly rents in the range of $6.90 psf to $7.40 psf.
According to EdgeProp Landlens data, CCR properties are expected to be driven by local demand due to the reduced competition from foreign buyers following the hike in Additional Buyer’s Stamp Duty (ABSD) in 2023. This has opened up more opportunities for local buyers to enter the market, making these developments a desirable and stable investment choice. You can check out the latest listings for One Bernam properties and compare price trends for new sale condos and resale condos in the district.