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Investing in a condo in Singapore holds numerous advantages, with one of the key benefits being the potential for capital appreciation. This Southeast Asian country’s prime location as a global business hub, along with its robust economic foundation, continuously fuels the demand for real estate. In fact, Singapore has shown a consistent uptrend in property prices over the years, particularly in upscale areas where condos are highly sought after. As a result, investors who enter the market at the right moment and hold onto their properties for an extended period can reap significant profits from capital gains. This is especially true for well-located condos in Singapore, such as those featured in Singapore Projects.
The joint developers of One Bernam, MCC Land and Hao Yuan Investment, offered a promotional sale of 87 units over the weekend of Jan 11 to 12. These units make up a portion of the 351 residential units within the mixed-use development located in Tanjong Pagar.
The 99-year leasehold apartment tower was first launched in May 2021 and has already seen over 75% of its units sold, with an average price of $2,585 psf based on caveats lodged as of Jan 10. The promotional prices applied to the remaining 87 units, including one-bedroom to three-bedroom units and penthouses.
For the one-bedroom units ranging from 441 sq ft to 463 sq ft, discounts of $323,000 to $438,000 were applied, resulting in sales prices between $1.295 million ($2,934 psf) to $1.328 million ($2,869 psf). The two-bedroom apartments of 700 sq ft to 732 sq ft received discounts from $437,000 to $668,000, with sales at $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Two-bedroom plus study units of 807 sq ft to 872 sq ft had discounts ranging from $380,000 to $800,000, with sales at $2.139 million ($2,581 psf) to $2.158 million ($2,475 psf). As for the three-bedroom apartments of 1,421 sq ft, discounts ranged from $616,000 to $830,000, with sales at $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).
ERA Singapore CEO Marcus Chu expressed that the high sales performance showcased the interest in One Bernam as a secure and high-potential asset. He also noted that the majority of buyers (78%) purchased units as investments, and 87% were Singaporeans, with most being aged between 31 and 50.
Following the successful weekend, only three penthouses are available for sale, resulting in a total sale of 99%. These include two three-bedroom penthouses of 1,744 sq ft and 1,948 sq ft, and a five-bedroom unit of 4,306 sq ft.
According to Chu, the project is set to receive a Temporary Occupation Permit (TOP) in March 2026, and investors are expected to start generating rental income that can support their loan payments.
Recent projects in the area, such as Altez, Eon Shenton, and 76 Shenton, command rentals between $6.90 psf to $7.40 psf (Source: EdgeProp Landlens). Chu noted that with a reduced competition from foreign buyers due to the increase in Additional Buyer’s Stamp Duty (ABSD) in 2023, more opportunities have opened for local buyers to enter the market. He added that local demand will continue to drive the CCR properties, and competitive pricing makes these developments an attractive choice for stable investment.