The mixed-use development One Bernam is nearing sellout after a wildly successful weekend promotion. With just three penthouses remaining, this highly anticipated property is capturing attention as a premium asset.
Weekend Discounts Fuel Frenzy
From Jan 11 to 12, One Bernam offered 87 units at promotional prices. The prime project in Tanjong Pagar first launched in May 2021. By Jan 10, over 75% of the units were sold at an average price of $2,585 psf, according to caveats lodged.
Buyers had access to deals on one- to three-bedroom units and penthouses, enticing a diverse range of purchasers. One-bedroom apartments, saw price reductions of $323,000 to $438,000, bringing final prices between $1.295 million ($2,934 psf) and $1.328 million ($2,869 psf).
Two- and Three-Bedroom Units See Significant Price Cuts
Mid-sized homes ranging from 700 to 732 sq ft offered discounts from $437,000 to $668,000, resulting in prices from $1.752 million ($2,394 psf) to $1.78 million ($2,544 psf). Additionally, two-bedroom plus study units ranging from 807 to 872 sq ft saw discounts of $380,000 to $800,000, with sales prices between $2.139 million ($2,581 psf) and $2.158 million ($2,475 psf).
For those seeking larger homes, three-bedroom units spanning 1,421 sq ft offered reductions of $616,000 to $830,000, with prices ranging from $3.496 million ($2,461 psf) to $3.526 million ($2,482 psf).
Buyers’ Profile: Who’s Driving Demand?
According to Marcus Chu, CEO of ERA Singapore, the project’s success reflects a high level of buyer confidence. He revealed that 78% of purchasers were investors, and 87% of buyers were Singaporeans, with the majority aged 31 to 50.
Following the weekend promotion, only three penthouses remain available: two three-bedroom units (1,744 sq ft and 1,948 sq ft) and a spacious five-bedroom unit (4,306 sq ft).
Rental Yields and Investment Outlook
Slated for completion in March 2026, One Bernam is expected to generate rental income for investors. Nearby properties such as Altez, 76 Shenton, and EON Shenton currently fetch monthly rents of $6.90 psf to $7.40 psf, according to EdgeProp Landlens.
Local buyers have embraced the project amid changing market dynamics.
ELTA Condo Indicative Price
Your Takeaway from One Bernam’s Success
This success highlights the continued strength of mixed-use developments in prime areas. Would you explore similar promotions?