One Bernam hits new high of $3,168 psf

/ EdgeProp Singapore |

November 25, 2022 9:00 AM SGT

SINGAPORE (EDGEPROP) - Among condominiums that hit a new psf-price high over the week of Nov 5 to 11, One Bernam topped the list with the sale of a 441 sq ft, one-bedroom unit by the developer on Nov 10 for $1.398 million, or $3,168 psf. This beat the previous high set on Oct 3 when a 441 sq ft unit was sold for $1.348 million, or $3,054 psf. It also marked the first time that a unit sold at One Bernam crossed the $3,100 psf threshold.

One Bernam is a 99-year leasehold mixed-use development located on Bernam Street, off Anson Road in District 2’s Tanjong Pagar area. It is a joint-venture project between MCC Land and Hao Yuan Investment. Besides 351 residential units, One Bernam has a two-storey retail podium of 15,726 sq ft and one floor of serviced apartments with 13 keys.

One Bernam scale model - EDGEPROP SINGAPORE

The psf-price high at One Bernam follows the sale of a 441 sq ft, one-bedroom apartment by the developer on Nov 10 for $1.398 million (Picture: Samuel Isaac Chua/The Edge Singapore)

Residences at One Bernam were launched for sale in May last year. Among the 100 units initially released by the developer, 80 were sold during the project’s launch weekend at an average selling price of $2,650 psf. Since then, prices transacted at One Bernam have steadily increased. In September, prices crossed $3,000 psf for the first time following the sale of a 463 sq ft unit for $1.389 million ($3,001 psf). To date, 137 or 39% of units at One Bernam have been taken up.

One Bernam has a mix of one- to three-bedroom units, with sizes ranging from 441 to 1,421 sq ft. There are also two 3-bedroom penthouses of 1,744 and 1,948 sq ft, while the largest penthouse has five bedrooms and is 4,306 sq ft in size. One Bernam is within walking distance of Tanjong Pagar MRT Station on the East-West Line.

RiverGate also saw a new psf-price high, when a three-bedder measuring 1,550 sq ft changed hands for $4.8 million or $3,097 psf on Nov 11. This was the first time a unit at RiverGate was sold for more than $3,000 psf. The development’s previous psf-price high of $2,894 was recorded on Sept 1 following the sale of a 1,970 sq ft unit for $5.7 million.

Several units at RiverGate have changed hands this year. Based on caveats lodged, 17 transactions have occurred at the development since the start of the year. Units sold measure between 1,023 and 1,970 sq ft, with prices ranging between $2.7 million and $5.7 million on an absolute basis, or from $2,522 to $3,097 psf.

RiverGate hit a new high after a three-bedder changed hands for $4.8 million or $3,097 psf on Nov 11 (Picture: Samuel Isaac Chua/The Edge Singapore)

Located in Robertson Quay in District 9, RiverGate is a freehold development that was completed in 2009. It has 545 units across three 42-storey blocks. It is an 11-minute walk to the recently opened Havelock MRT Station on the Thomson-East Coast Line.

Mayfair Modern is another development that saw a new psf-price high during the period in review. On Nov 5, a two-bedroom-plusstudy unit measuring 797 sq ft was sold by the developer for $1.879 million, or $2,359 psf. The transaction surpasses the previous high logged on Aug 25 when another 797 sq ft unit was sold for $1.865 million ($2,342 psf).

Mayfair Modern is a 99-year leasehold condominium located on Rifle Range Road, off Dunearn Road, in District 21. Developed by Oxley Holdings, it is slated for completion in 2024. It has 171 residences spread across two 8-storey blocks. Units comprise one- to four-bedders measuring 506 to 1,518 sq ft. Mayfair Modern is part of Oxley Holdings’ Mayfair Collection, which includes the 215-unit Mayfair Gardens.

Since its launch in April 2019, 168 units at Mayfair Modern have been sold at an average price of $2,038 psf, which translates to a 98% take-up rate.

No psf-price lows were recorded for the period in review.

Check out the latest listings near One Bernam, Rivergate, Mayfair Modern, Mayfair Gardens, Tanjong Pagar MRT Station, Havelock MRT Station

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