One Bernam New Launch Condo Review – Low PSF New Launch Condo at Tanjong Pagar

TL;DR Priced lower than most Core Central Region new launch condos, One Bernam is well-positioned to benefit from the future development of Greater Southern Waterfront while buyers can enjoy the perks of living in the vibrant Tanjong Pagar neighbourhood, such as a stunning variety of dining options and walkability to the CBD

• Project Name: One Bernam

• Location: Tanjong Pagar (District 2)

• Developer: MCC Land (Singapore) Private Limited & Hao Yuan Realty (DunDee) Private Limited

• Architect: DP Architect Pte Ltd

• Site Area: 3,846 square metres

• Tenure: 99 years

• TOP (Expected): March 2026

• Residential Units: 351 (32-storeys atop 2-storeys commercial space and 1-storey of 13-unit of service apartments)

• Parking Lots: 178 lots (with 6 lots for the 3 penthouse units)

• Nearest MRT: Tanjong Pagar (350 metres; 5-minute walk)

• Primary Schools within 1km: Cantonment Primary School

• Other preschools nearby: SuperLand Pre-School, My First Skool, Mulberry Learning Centre, Star Learners, Learning Hands

One Bernam sits on prime real estate within the Singapore Central Business District (CBD) amidst 5-star hotels and Grade A offices in Tanjong Pagar. The area’s transformation into a residential enclave in the past 15 years has enabled a wide array of amenities to thrive.

Today, every daily necessity, supermarkets, eateries and hawker centres all the way up to finer things in life like Michelin-starred restaurants and cocktail bars, as well as boutique and mega-gyms, can all be found in this neighbourhood which as become the finest example of a live, work and play neighbourhood in Singapore.

Residents at One Bernam have everything they need and want at their doorstep, coupled with the fact that the development itself will have its own two-storey commercial podium. Then there’s also promise of the future Greater Southern Waterfront, which is just 150 metres away from One Bernam, as well as three MRT stations that will open within the next few years.

 

One Bernam is jointly-developed by MCC Land and Hao Yuan Realty, who won the tender for the 3,846 sq m, 99-year leasehold residential site with a $440.9 million bid in September 2019, which translates to a land cost of $1,462 per square foot per plot ratio (psf ppr). Leveraging the Urban Redevelopment Authority (URA) CBD Incentive Scheme, the developers chose to turn this into a mixed-use development, which adds both intangible and real value to those who will own unit here, as well as serving to elevate the condo’s appeal among the many expats who rent in the area.

The breakeven price for the developers is around $2,200 psf, which means that their profit margin is pretty low, given the starting psf prices we’re seeing. And as we’ll see, One Bernam’s 351 units appear to be priced to sell relative to what competing Core Central Region projects are fetching in the market right now.

Indicative Pricing, Unit Mix and Maintenance Fee

 

Developer Profile and Track Record

There have been multiple development partnerships between MCC Land (Singapore) Private Limited and HY Realty (HaoYuan Realty (DunDee) Private Limited). One Bernam is the sixth development collaboration between the two companies. MCC Land is also the developer of the recently-completed Queens Peak (TOP: 2020) alongside HY Realty.

MCC Land, a subsidiary of Metallurgy Corporation of China Limited, is ranked among the top 10 real estate developers in Singapore by BCI Asia Top 10 Developer’s Award. For the past 5 years, MCC Land has participated in the development of multiple projects including  mixed-use developments, condominiums and executive condominiums. Other recent residential developments by MCC Land include The Alps Residences (2019), Northwave (2019), The Poiz Residences (2018) and The Santorini (2018).

Location Analysis

One Bernam sits within the Central Business District (CBD) in District 2, on the edge of a bustling neighbourhood with ample amenities within walking distance. To add to the 100AM Mall right across the street, One Bernam itself will offer two storeys of commercial retail and dining—a mini mall of sorts underneath the 35-storey tall condo block.

The hub of activity in Tanjong Pagar we see today is the result of a 15-year effort by the URA to turn the area into a comprehensive live-work-play destination. The result of that is a highly liveable, family-friendly district where the modern CBD skyscrapers transits seamlessly into a shophouse precinct that gives the area its charm.

 

For daily necessities, 100AM Mall, Tanjong Pagar Centre and Icon Village are all nearby. But chances are you wouldn’t have to cross the road as One Bernam will have its own collection of shops. Nonetheless, for those who feel variety is truly the spice of life, the variety of supermarkets, shops, dining and retail options here is currently unrivalled anywhere else in the CBD. Areas like Chinatown and Ann Siang Hill/Club Street are also in the vicinity.

Eating out will be especially a treat, because the dining options range from down-to-earth hawker food to Michelin-starred restaurants in nearly every cuisine imaginable. The hawker centre and wet market at Tanjong Pagar Plaza is just 250 metres away, and this is the nearest of three hawker centres within walking distance from the condo. Meanwhile, the conservation shophouse cluster along Tanjong Pagar Road and Duxton Hill is well-known for its collection of watering holes, cafes and Korean eateries.

Also within walking distance from One Bernam are multiple Grade A office developments in the Tanjong Pagar precinct including Guoco Tower, Capital Tower, Mapletree Anson, Twenty Anson, Springleaf Tower and AXA Tower, just to name a few. With scores of MNCs and high-value PMET jobs in the vicinity, One Bernam captures tenants who are professionals working in the area as well as buyers looking to live, work and play in the same neighbourhood.

If One Bernam residents feel the need to travel out of their neighbourhood, the nearest entrance to the Tanjong Pagar MRT station is located within a short 350 metres’ walk away, with another three upcoming stations (Cantonment MRT and Prince Edward MRT station on the Circle Line; Maxwell MRT station on the Thomson-East Coast Line, or TEL) within a 10-minute walk. These stations will give residents of One Bernam convenient access to popular destinations like Harbourfront, Marina Bay and Orchard Road.

Young families staying in One Bernam can look forward to the range of preschools located within walking distance from the condo. To name a few, located in the nearby 100AM is SuperLand Pre-School and in Tanjong Pagar Plaza is My First Skool. For children soon entering primary school, parents can also consider Cantonment Primary School, which is a 7-minute walk away.

To the north-west of One Bernam is Singapore General Hospital (SGH) as well as Outram Park MRT. With the entire SGH area being transformed into Singapore’s largest medical campus, residents of One Bernam can look forward to easy access to comprehensive, world-class healthcare. The area directly above Outram Park interchange will also transform into a commercial hub, so that’s another plus point.

When it comes to health and wellness, One Bernam is surrounded by yoga studios and gyms (both boutique and major chains). There’s Fitness First and F45 Training across the street, Virgin Active in Guoco Tower, and The Yoga Shala, Ziva Yoga and Yoga Vihara a few minutes’ walk away. Considering that condominium gyms are typically compact and limited, these fitness amenities are welcome options for residents of One Bernam.

For fitness with a dose of adventure, One Bernam is also located within 1 km from the start of the Rail Corridor, which is a green belt leading all the way towards Buona Vista and Bukit Timah. Runners and cyclist alike will also relish the fact that Marina Bay, Gardens by the Bay and Singapore River are easily accessible.

Motorists and those who travel frequently by car can access the Marina Coastal Expressway within a minute of exiting One Bernam, giving them a very smooth route to and from the East and Changi Airport. The CTE and AYE can be accessed via the entrance at near Outram Park, which is about a 5 to 7 minute drive away.

District and Area Price Trend

When it comes to resale condos, the price trend in the vicinity of One Bernam may not make for pretty viewing at first. Taking a look at the median per square foot (psf) prices for five 99-year leasehold condos within 200 metres of One Bernam (Artez, Skysuites @ Anson, Icon and 76 Shenton), we can see that prices have been on a downtrend since peaking in the property boom of 2017.

 

We believe that much of the lacklustre performance of resale condos in the area was the direct result of the government’s strategic live-work-play plan for Tanjong Pagar, which resulted in quite a significant addition of new condo units (over 2,000 units) in the area over the past decade or so, as the list below shows:

 

Keen competition among sellers, competition from new projects in District 3 and District 1, and lower demand for city location condos as a result of Covid-19 collectively exerted downward pressure on the resale prices of Tanjong Pagar condos and the effect is most pronounced for condos whose completion date ranges from 2007 to 2015.

The lacklustre resale situation in Tanjong Pagar, however, works to buyers’ advantage because One Bernam is priced well below what a competing Core Central Region new launch project in the market is fetching right now. And unlike the situation in the late 2000s, there is now a lack of undeveloped land in the Tanjong Pagar area, which means that the surge in condo supply in the early-to-mid 2000s won’t be repeated.

Amongst CCR new launches, One Bernam is near the cheapest end of the chart in terms of psf. The biggest gap in psf is when comparing against the handful of new launches in District 7 Bugis. Even The M, a condo that is widely regarded as a bargain and is now 85% sold, is 5 to 10% more expensive than One Bernam in psf terms.

One Bernam vs CCR New Launch Condos

 

Bugis has been a property hotspot in the past few years, and this has resulted in a surge in prices in the area. But traditionally Bugis is less prime than Tanjong Pagar, so One Bernam starting at $2.3k psf is a real eye-opener. Also notable is how One Bernam is priced below One Pearl Bank, even though the latter actually sits outside the CCR in the Rest of Central Region (RCR) and is beyond walking distance from the CBD core.

One Bernam vs RCR New Launch Condos

 

One Bernam Condo Site Analysis

For a condominium in the CBD, the 3,846 sq m site that One Bernam sits on can be considered quite substantial in terms of land area, especially since the development consists of just a single high-rise residential tower.

The best part about the land parcel is that it lets the 35-storey residential block be oriented in a north-south facing for most stacks to avoid exposure to the morning and afternoon sun, whereas the best aspect about the architecture of One Bernam is that residential units start from the fifth storey that sites roughly 35 to 40 meters above street level. So, even the lowest floors of the condo will have a decent separation from the hustle and bustle of the commercial podium and surrounding streets.

When it comes to views, the One Bernam site is mostly surrounded by high-rise buildings as is typical of a condo in the CBD. Another thing to note is that all of the project’s 87 one-bedroom units are located in the north-facing stacks, which are oriented towards a cluster of high-rises.

Meanwhile, the two-bedroom Stack 01 faces entirely West; aside from afternoon sun exposure, there isn’t much of a view from here and understandably this stack wouldn’t be the first choice for most buyers.

Notably, there are two stacks (07 and 08) of two-bedder units facing East that offer lower floor units a good view of the condo pool. From the 23th storey and above, residents of units in these two East facing stacks get to enjoy pocket sea views to the Southeast, and storeys above the M Hotel roofline will get even more sea view.

The south-facing stacks offer better unblocked views, and stacks that face this direction are the larger unit types of the development. From the 20th storey onwards, south-facing units can look beyond ABI Plaza and the shorter wing of the Fuji Xerox Tower, opening up to a gorgeous view towards Keppel Harbour, Pulau Brani, Sentosa and the Straits of Singapore.

The higher the floor level, the better the view and we expect high-floor south- and east facing units to come with a considerable price premium. When paying extra for these views, bear in mind that in the long term, new buildings in the Greater Southern Waterfront could compromise these existing sea views.

 

One Bernam Condo Facilities

One Bernam comes with the requisite suite of condo facilities except for a tennis court and steam room. The facilities are located across two levels, one on level 4 and the other on level 34, which is great as the latter provides residents the chance to soak in panoramic sea views regardless of the level or facing of their units.

 

So let’s start from the top first. The Sky Terrace, as the 34th storey common area is called, is where the condo gym is located. It’s not a big space but nonetheless accommodates a few treadmills and a weights rack—more than sufficient for a quick workout.

Elsewhere on the same level, there’s also a function room with comprehensive cooking facilities, as well as a roof terrace that offers a prime spot for sea views and sunset viewing. At the same time, there are several alcove spaces on this level, which residents can use without having to book in advance.

 

The other facilities level is located atop the commercial podium on level 4, and we’re glad that the developers have found space for a very decent-sized swimming pool on this level with sufficient width (about 12 metres) to accommodate multiple swimmers. There are also cove areas at either ends of the pool and a spa pool for relaxation, freeing up space for serious swimming.

 

However, there are no changing rooms or steam rooms on this level. In fact, the only washrooms here are two handicapped toilets located at either end of the level. The lack of a changing room and toilets to accommodate multiple users is a bit of a head-scratcher, especially given there are also two large areas to host guests.

 

 

One Bernam Unit Layout and Floor Plan Analysis

For the one-bedroom units at One Bernam, buyers will get to choose between three unit types: A1, A2, A3. None of the one-bedroom units have a balcony, which translates to more internal usable space for every dollar.

 

While A1 and A2 is typical of one-bedder layouts in new launch condos nowadays, A3 merits more attention. Because with just one additional square metre of space, the kitchen now has its own recessed space, which enables it to be enclosed if the owners wishes to do so.

Meanwhile, A3’s also comes with a spacious dining area that allows an eight-seater table to be placed longitudinally, and this makes the unit great for singles and couples who love to entertain and have guests over.

For two-bedroom units, there are four unit types: B1, B2, B3 and B4. At 700 to 732 square feet, none of the two-bedder layouts feel too small, and we love the fact that the kitchens, while compact, each have three sides which allows cooks to work efficiently. Owners can also partially or fully enclose the kitchen if they wish, by building a glass partition and door.

Whether you choose the 700 or 732 square foot configuration depends on whether you value that foyer space at the main entrance, which is thankfully wide enough to accommodate a storage wall for shoes and other items.

 

A notable aspect of the two-bedder layouts is that none of them come with two bathrooms. All two-bedder units come with a single master bathroom that is semi-ensuite.

What we like about the two-bedder layouts is that the living room is big enough to place a three-seater sofa in, and the squarish balcony allows the set up of a secondary, al fresco dining area. The common bedroom can accommodate a queen-sized bed, although it would need to be lined up close to the window. The master bedroom isn’t huge either, and although a king-sized bed would fit, a queen frame would give a better illusion of space.

Aside from the 116 two-bedroom units, the developer has decided to include another 116 two-bedroom units that come with an additional study. There are four unit types (BS1 to BS4) ranging from 807 to 872 sq ft, and all study areas do not have windows.

 

An important point to note is that all of the two-bedroom-plus-study units come with two bathrooms, and the master bathroom for these units are fully ensuite unlike the regular two-bedders. So it’s not only an extra study that these units give buyers, but also an extra bathroom.

The least satisfying of the two-bedroom-plus-study layout, for us, are the 807 sq ft BS3 and 872 sq ft BS4 units. For BS3, we’re not exactly enamoured by the four-metre long foyer, which translates to about 6 sq m of space. The kitchen space here, meanwhile, is even smaller than the one found in the one-bedder unit, and there isn’t room to add much-needed countertop space if the owner wishes to do so.

We also couldn’t really wrap our heads around BS4, which is an irregular layout bordering on being wild, like an incorrectly placed tetris block. Even though this is the largest of the two-bedder-plus-study units at 872 sq ft, a lot of this extra space is ‘eaten up’ by the L-shaped corridor extending from the living area all the way to the master bedroom.

The saving grace for BS4 is the fact that the walls study area can be knocked down, which would allow owners to extend the kitchen, dining area and living area and customise the proportion of these spaces to their lifestyles.

While the kitchens in BS1 and BS2 are still small, the absence of a long foyer and the placement of the study makes the layout far more flexible. The study is also larger, which allows the space to be very versatile. Owners can choose to relocate the dining area here, or turn this a guest bedroom with a single bed and a small wardrobe.

Also of note is that although the study in BS1 has direct access to the common bathroom, the sliding door means that there’ll be less wall space to work with within the study.

Having looked at the layouts for the one- and two-bedders, that leaves less than 10% of the units for other unit types. The remainder is just one unit type of 29 three-bedroom units in a single stack, followed by three penthouses on the topmost storey above the sky terrace.

And if you haven’t already noticed, the price gap between the two-bedder and three-bedder units is actually quite huge. That’s because for the three-bedroom units, the developer reaches for a true luxury positioning by enlarging every space within the unit, as well as having a private lift serve the unit. The result is a layout reminiscent of prime district condos, and the starting price of $2,3XX psf actually makes this even more attractive.

 

There is really a lot to like about the layout of the three-bedder unit, and it’s easy for the developer to achieve that because at 1,421 sq ft there is so much space to play with. Our only obvious complaint would be the size of those air-con ledges, because it’s highly unlikely that the owner would require space for four compressor units.

All’s good if you can look past that. In fact, the master bedroom is one of our favourite aspects of the layout. Although it has west-facing windows, these do give a wider sea view on the higher floors. We particularly like the master bedroom’s south-facing balcony as well, and the interior space can accommodate a king bed with excess space left over.

Elsewhere, the kitchen is very functional and spacious by today’s standards, and there is a dry pantry serving the dining area. The living room is four metres wide, which is an above average size as well. Both common bedrooms can comfortably house a queen-sized bed. (A curious point to note about the three-bedroom unit type is that it is the only unit type at One Bernam with a household bomb shelter.)

Moving on to the three single-storey penthouses of the development, the most modest is the 1,744 sq ft north- and east-facing three-bedroom penthouse unit (E3), which resembles the regular three-bedroom configuration but without private lift access. However, the unit opens up to two sides (north and east) and the master bedroom has enough space to accommodate its own study or lounge area (although it has no balcony of its own).

 

At this elevation, the owner of this penthouse can enjoy a very decent unblocked pocket view towards Outram Park and Pearl’s Hill City Park towards the Northwest, but it’s obviously the sea views towards the East that will steal the show.

Meanwhile, the 1,944 sq ft three-bedroom penthouse (E2), which is south- and east-facing, gives the master bedroom an additional walk-in-wardrobe, expands the dining and living area, as well as million-dollar views towards Sentosa and Straits of Singapore.

 

Last but certainly not least is the 4,306 sq ft five-bedroom penthouse (E1), which will become the cream of the crop of penthouses in District 2 and second in stature to only the ultra-luxe homes at Wallich Residences. Although the price is yet to be announced, we figure the unit will be available in the $12 million to $14 million range.

 

And because there are no staircases or private pools, this penthouse will appeal to the affluent but practical buyer wanting to house the entire family in a prime location. Accentuating the grandeur is the separate living and dining areas. And owners wanting to maximise space can section off a storage area in the middle section of the home, next to the powder room. This space can extend all the way to the entrance of Bedroom 2.

Perhaps the only thing that would hold buyers back would, again, be the west-facing master bedroom. However, with solar film insulation and the sheer volume of the master bedroom, any heat that makes its way into the space can dissipate very quickly. With the lack of luxury penthouses in the Tanjong Pagar area, this unit will surely garner a lot of attention from the high-net-worth buyer.

Appliances, Fittings and Flooring

Units at One Bernam comes with high-end luxurious hoods and hobs from Franke and V-ZUG appliances. Kitchen countertops come in engineered stone. Meanwhile, the bathrooms are fitted with renowned brands Laufen and Gessi.

The flooring of the living and dining areas are of Hermes grey marble tiles, which originates from Turkey. The bedrooms come with engineered timber flooring for a more homely feel. Haiku DC ceiling fans will be installed in the living room as well, which is quite a rare thing to see in a condo nowadays.

Smart home features with devices such as ‘smart doorbell’ and smart air-conditioning controls give residents an added level of convenience and security. A ‘Magic Mirror’ will be installed in the penthouses, providing residents with real-time updates on traffic and weather conditions.

Comparative Analysis: One Bernam vs New Launch Condos

 

As we’ve mentioned earlier, the per square foot price of One Bernam places it among the lowest compared to current CCR new launches, and the advantage extends to the quantum as well for the one-and-two bedder units.

The closest comparable condo, in terms of the proximity to major CBD job catchment areas, is Midtown Modern in Bugis and the adjoining Midtown Bay. Both command a much higher psf price and quantum compared to One Bernam, and furthermore the land value in Bugis is lower compared to Tanjong Pagar, judging by recent shophouse transactions in the respective precincts. So, on paper at least, One Bernam looks to be the better deal.

For two-bedders in terms of quantum play, One Bernam’s closest competitor is the recently-launched Irwell Hill Residences in prime District 9. Although Irwell Hill Residences has smaller units in terms of floor area, the difference isn’t exactly obvious when putting the two floor plans side-by-side:

 

The additional space in the One Bernam two-bedder unit comes from a larger living, dining and kitchen area, a larger master bathroom, and a balcony that’s about 30% larger. These differences are small so the buyer might justifiably gravitate towards the unit with the lower quantum.

Furthermore, Irwell Hill Residences touts a slightly lower monthly maintenance fee while offering more extensive condo facilities than One Bernam given Irwell Hill’s larger site area. And if you look closely. The common bedroom for Irwell Hill’s two-bedder is also marginally more spacious, and the unit at about $70k to $100k cheaper gives One Bernam’s two-bedder a real run for its money.

Read our review on Irwell Hill Residences here.

Comparative Analysis: One Bernam vs Resale Condos

 

As a result of a handful of developments that came up and about the same time and were completed a few years back in the Tanjong Pagar area, One Bernam faces quite a bit of competition from these resale condos, especially among one-bedders.

We feel the stiffest competition for one-bedroom types are those at Icon and the newer 76 Shenton. The advantage of Icon is not just that it’s slightly nearer to Tanjong Pagar MRT, it’s also because of the fact that the facilities here are more extensive—including a full 50-metre lap pool and TWO tennis courts—with many of the units enjoying unblocked views to the North. Along with a larger floor area, Icon could sway buyers who are open to both new launch or resale.

However, it’s important to bear in mind Icon’s age. Having already gone past 15 years of its 99-year lease, the prospect of capital appreciation for Icon might be lower compared to a new launch condo with a fresh lease.

Another resale condo offering more spacious units at the quantum range of One Bernam is the leasehold 76 Shenton, which is located right at the doorstep of the upcoming Prince Edward MRT station and better positioned for sea views compared to One Bernam and Icon. Here’s a side-by-side, to-scale comparison of 592 sq ft one-bedder units at 76 Shenton compared to the 441 sq ft one-bedders at One Bernam:

 

As you can see from the above floor plan, the one-bedroom unit in 76 Shenton feels far more spacious with an additional 150 sq ft of space. Four of these units transacted for an average of $1,125,500 in the past one year, and at this price it gives prospective One Bernam buyers a lot of food for thought, regardless of whether they are buying for own-stay or rental yield.

However, the fact that 76 Shenton is among an oversupply of condos with the same age range might blunt any future appreciation. One Bernam, on the other hand, doesn’t face any competition in the Tanjong Pagar area when age is taken into consideration. And given the lack of remaining land and low en bloc sentiments at present, One Bernam is likely to be the only new launch condo in the area in this current property cycle. So we believe that the development actually possesses a scarcity value that resale condos in the Tanjong Pagar area do not have.

Future Development and Upside Potential

Although District 2 is already very well-developed, something noteworthy for residents of One Bernam is the Singapore Government’s plans for urban transformation in Greater Southern Waterfront (GSW). Over the next few decades, the former port area, which spans 30 kilometres of coastline from Pasir Panjang to Gardens by the Bay East, will be gradually redeveloped into a district for work, live and play.

Residents of One Bernam will be a three-minute walk away from the site of the future GSW, and they can expect recreational spaces and green corridors along with commercial and leisure amenities galore. In the southern west GSW areas nearer to Tanjong Pagar, the land use mix is likely to be more diverse given the proximity to the CBD. Housing and Grade A offices will set new price benchmarks for the area and raise land value.

One Bernam is positioned in the strategic axis between the current CBD and the GSW, providing the best of both worlds, and one of the greatest long-term upsides is from the Sentosa-Brani Master Plan, which will turn Brani Island into a premier leisure and tourism. Part of the plans is a new link bridge from Tanjong Pagar to Brani Island, and this attraction will be just one-kilometre from One Bernam.

 

The government has also announced plans for a ‘Discovery Park’ on Brani Island. With the GSW, Sentosa and the upcoming slew of amenities will be accessible to residents of One Bernam through a short bike ride or drive away. Although the completion date of GSW amenities is subject to the growth of the Singapore economy, and a dozen other new launch condos are also touting the GSW as its selling point, One Bernam has the edge simply because of its proximity to the growth area.

Aside from the long-term prospects from the Greater Southern Waterfront, residents of One Bernam have more immediate upside potential in the form of three upcoming MRT stations: Cantonment and Prince Edward on the Circle Line and Maxwell on the Thomson-East Coast Line. Just a kilometre away is Outram Park, which will be turned into a commercial hub according to the 2019 URA Master Plan.

One Bernam: Own Stay vs Investment

Most buyer attention will no doubt be focused on the low quantum one- and two-bedroom units. That being said, we feel that own-stay buyers, especially family buyers, should take a closer look at the three-bedroom units at One Bernam, especially because there’s a lack of spacious family condo units in the CBD.

And even if you look to prime districts 9 and 10, such good-sized units would command a far higher price point of $4 million and beyond, so the $3.3-plus million starting price for One Bernam’s three-bedder units is really worth serious consideration.

For investors, the smaller unit types at One Bernam could prove a good Covid-19 recovery play, especially considering the fact that buying a resale condo in the CBD area for rental yield right now might not be the best move. Assuming rent stays constant, buyers of One Bernam’s one-bedroom units can expect a gross rental yield of about 3% onwards, assuming that the units can fetch the area’s average one-bedder rent of about $3,000.

 

One Bernam: An unmissable opportunity?

Although we’re in the midst of a price downtrend for resale condos in the Tanjong Pagar area, we know why this is happening, and it’s chiefly because of falling rents due to Covid-19 coupled with the flood of new condo units here in the period between 2007 and 2015.

All of this had led to the Tanjong Pagar area being somewhat underrated and undervalued in recent quarters, especially with neighbourhoods like Bugis stealing the thunder. But this is where property buyers should make an objective decision, starting by comparing psf prices of new launch developments in the Core Central Region.

The case for One Bernam intensifies when you consider the fact that the psf price here is even cheaper than RCR condos such as One Pearl Bank. With superior walkability to amenities coupled with the long-term upside potential provided by the Greater Southern Waterfront, One Bernam offers both present and future value that savvy property buyers crave.