Type

Units

Min Area

Price Range

1 BR

452 sqft

From S$1.2XM

2 BR

829 sqft

From S$2.2XM

Property Highlights

Prime central location 7 minutes' walk from Tanjong Pagar MRT, ideal for CBD commuters and urban professionals
Compact 829 sqft dual-bedroom layout with two full bathrooms, suited to mature couples and small families
S$2.25 million price point positions this in the competitive mid-tier segment of the Bernam Street precinct
Established condominium project in a well-connected neighbourhood with strong rental demand trajectories
Gateway position to Outram and Maxwell, two of Singapore's most vibrant mixed-use districts

Interested in this property?

Send a quick enquiry our PropSG team will reach out within 24 hours.

Ref: 500025903

One Bernam: A Central Sanctuary in Singapore's Historic Bernam Street Precinct

Located at 1 Bernam Street, One Bernam represents a thoughtfully positioned residential offering in one of Singapore's most characterful urban corridors. Priced at S$2,250,000, this two-bedroom, two-bathroom condominium spans 829 square feet and embodies the appeal of intimate, well-planned living within the heart of the city's established commercial and cultural district.

The address itself carries considerable pedigree. Bernam Street sits at the confluence of the Outram and Maxwell neighbourhoods, areas renowned for their eclectic blend of heritage shophouses, contemporary dining establishments, and creative workspaces. This positioning offers residents an enviable balance: immediate proximity to the energy of Singapore's central business district, yet still tethered to the character and community feel that makes these older precincts so desirable.

Connectivity and Transport Access

One of the primary draws for prospective buyers will be the relationship to public transport infrastructure. At a walking distance of approximately 570 metres—roughly a seven-minute stroll—Tanjong Pagar MRT Station (EW15) provides direct access to the East-West Line. This connectivity proves invaluable for professionals working along the corridor from Changi to Jurong, and the station's position as a major interchange junction enhances flexibility for those traversing the entire network.

For commuters and urban professionals, this proximity translates to material time savings. The elimination of the need for a private vehicle, or at minimum the reduction of reliance upon it, represents a genuine lifestyle and financial advantage. Real estate demand in Singapore consistently demonstrates that properties positioned within a ten-minute walk of an MRT interchange command measurable premiums, and Tanjong Pagar's status as a major hub reinforces this dynamic.

Layout and Interior Specification

The 829 square-foot floor plan accommodates two generously proportioned bedrooms alongside two full bathrooms—a configuration that maximises usable space and eliminates compromise in terms of personal facilities. In a property of this size, the inclusion of dual ensuite or guest bathroom arrangements reflects thoughtful design, catering equally to couples seeking privacy and small families requiring practicality.

The floor plate density of this size, combined with modern condominium planning standards, suggests light, open-plan living zones that flow efficiently from entrance through entertaining spaces to private quarters. Properties of this specification in this location have demonstrated consistent appeal with upgraders seeking to downsize from larger suburban holdings, as well as established professionals and empty-nesters valuing the convenience premium of a central address.

One Bernam as an Investment Consideration

The S$2.25 million asking price positions this property within a segment that attracts diverse buyer motivations. For investment-focused purchasers, the proximity to Tanjong Pagar and the surrounding Outram-Maxwell precinct's robust rental market underpins yield expectations. The neighbourhood's concentration of expatriate professionals, creative industry workers, and young corporate professionals has historically supported strong tenant demand, particularly for well-maintained, efficiently configured units.

The condominium sector in Singapore's central zone has demonstrated resilience through market cycles, with particular strength in two-bedroom configurations that appeal to both owner-occupiers trading up and institutional investors seeking stabilised assets. Properties positioned within walking distance of established MRT interchanges tend to command rental premiums relative to comparable units in secondary precincts, reflecting the market's consistent valuation of transport connectivity.

The Bernam Street Advantage

Bernam Street itself has undergone notable evolution in recent years, with the street and surrounding precinct attracting heightened interest from both developers and place-makers. The area's blend of conservation-worthy older buildings and newly activated ground-floor retail and hospitality offerings has created a distinctive character that appeals to buyers seeking something beyond the generic nature of newer suburban developments.

This cultural and commercial vibrancy supports long-term value preservation and appreciation potential. Unlike precincts whose appeal may be cyclical or trend-dependent, Bernam Street's historical roots and established function as a commercial and creative hub provide structural support for property values. The presence of independent retailers, cafes, restaurants, and cultural spaces—rather than chain operations—has proven particularly sticky in terms of attracting and retaining affluent residents.

Financial Structure and Buyer Profile Fit

At this price point, One Bernam appeals primarily to established buyer cohorts. First-time purchasers in this segment typically require either substantial accumulated capital or familial wealth contribution, as the S$2.25 million price exceeds standard first-time buyer narratives. Upgraders downsizing from larger properties—particularly those in suburban landed or large condominium configurations—represent a core demographic for whom this address and scale offer compelling logic.

High-net-worth individuals seeking a pied-à-terre within the business district, rather than a primary residence, also find this configuration appealing. The two-bedroom layout provides flexibility for owner-occupancy with a guest arrangement or home-office setup, whilst the central address eliminates the need to maintain a property in both central and fringe locations. For international buyers and expatriate professionals, the Bernam Street location, proximity to the CBD, and efficient floor plan create genuine utility.

Market Context and Comparable Assessment

The S$2.25 million valuation translates to approximately S$2,712 per square foot, a metric that positions this property within the established range for well-maintained units in this precinct. Recent transactions across Outram and Maxwell have demonstrated price stability in this segment, with particular strength in properties benefiting from either rare conservation shophouse conversion, or well-configured modern condominium layouts with commanding locations.

One Bernam's price positioning reflects realistic market conditions for a two-bedroom condominium of this standard within this district. Comparative properties of similar vintage, condition, and configuration have transacted at compatible quantum, suggesting appropriate pricing relative to current market sentiment and available alternative stock.

Ownership Structure and Long-Term Value Dynamics

For buyers considering One Bernam as either a long-term residence or investment holding, understanding the property's lease tenure and development track record proves important. The condominium sector in Singapore's central precincts has historically demonstrated resilience, with established projects benefiting from professional management, predictable cost structures, and stable communities. Properties in well-maintained, financially healthy condominium blocks tend to weather market corrections more effectively than those in struggling developments.

One Bernam's position within an established development with evident longevity and maintenance standards offers material reassurance to buyers concerned with long-term asset preservation. The active and engaged ownership structures typical of mature, well-serviced projects in central locations support the preservation of property standards and amenity value over extended periods.

Conclusion: A Considered Central Choice

One Bernam represents a thoughtfully considered option for buyers prioritising central location, practical floor plan, and the lifestyle advantages of proximity to Singapore's most vibrant precincts. The S$2.25 million price, whilst significant in absolute terms, reflects fair value for the tangible advantages of Bernam Street address, MRT proximity, and quality residential specification. For the right buyer—whether an upgrader seeking to consolidate within the city, a mature investor targeting stable, transport-connected stock, or an international professional valuing central convenience—this property merits serious consideration in any comprehensive property search.

Frequently Asked Questions

What is the estimated gross rental yield for One Bernam at S$2.25 million?

Based on current market conditions, two-bedroom units in the Tanjong Pagar precinct typically command monthly rents in the range of S$4,500 to S$5,500 depending on exact configuration and floor level. This would translate to a gross yield of approximately 2.4 to 2.9 per cent per annum on the S$2.25 million purchase price. Net yields after accounting for maintenance fees, property tax, and management costs typically range between 1.8 and 2.4 per cent, positioning this property competitively relative to other central zone condominiums of similar vintage and location. The rental market in Outram and Maxwell has demonstrated particular strength among expatriate professionals and corporate tenants, supporting consistent occupancy and upward rent growth trajectories aligned with CBD salary inflation.

How does the price per square foot of S$2,712 psf compare to recent transactions in Bernam Street and Outram?

At S$2,712 per square foot, One Bernam sits comfortably within the established range for quality two-bedroom condominium stock in the Outram-Tanjong Pagar corridor. Recent comparable transactions in the immediate vicinity have ranged from S$2,550 psf to S$2,950 psf depending on specific location, floor level, and condition, placing this property at fair value relative to available alternatives. Properties positioned directly on or within immediate proximity to major MRT stations have achieved prices at the higher end of this range, whilst those positioned several hundred metres away command the lower spectrum. One Bernam's seven-minute walking distance to Tanjong Pagar MRT represents a sweet spot—close enough for genuine convenience, yet distant enough to benefit from a degree of price moderation relative to buildings straddling the station directly. The broader S$2.7k psf segment has demonstrated pricing stability through recent market cycles, with downside volatility limited by the consistent appeal of central location and transport connectivity.

What are the Additional Buyer's Stamp Duty implications for a second-property purchase at S$2.25 million?

For second-property acquisitions, ABSD is calculated on a graduated scale based on purchase price and foreign ownership status. For a S$2.25 million residential property acquired as a second Singapore property by a Singapore citizen or PR, ABSD reaches 12 per cent of the purchase price, equivalent to S$270,000. This represents a material cost addition to total acquisition quantum and warrants careful financial planning. Foreign individuals or entities face higher ABSD rates of 20 per cent (S$450,000) at this price point, creating substantial disincentive for offshore investment. For investors evaluating One Bernam through a second-property lens, the ABSD cost should be incorporated into overall yield calculations; the S$270,000 ABSD liability reduces effective purchase price yield and extends breakeven timeframes for rental-focused acquisitions. Buyers should also note that ABSD liability arises at point of acquisition and requires funding alongside deposit and other purchase costs, impacting overall financing headroom and debt servicing capacity.

What is the lease decay risk for this property, and how does it impact future resale value?

One Bernam's lease tenure and remaining duration will materially influence long-term value trajectory and should be verified during due diligence. Singapore's property market has historically demonstrated that leasehold residential properties begin experiencing material value depreciation when remaining lease tenure falls below 70-75 years, with acceleration downward in the 60-70 year band. Banking institutions also impose progressive lending limitations as leasehold tenure declines, restricting both buyer pool and financing options for future purchasers. If One Bernam is a 99-year leasehold property with recent registration, lease decay represents a manageable consideration provided the owner intends medium-term occupancy (10-20 years) or strong near-term resale expectations. However, properties with materially shorter remaining leases face meaningful headwinds; a property with 60-70 years remaining typically experiences 15-25 per cent valuation compression relative to comparable longer-lease units. Prospective buyers should confirm exact lease commencement and tenure, and factor resale timeline assumptions into investment decision-making. Properties in this segment with strong MRT connectivity and central location have historically maintained appeal despite lease age, though achieving maximum future proceeds requires strategic exit timing before lease decay acceleration becomes acute.

How does proximity to Tanjong Pagar MRT Station affect demand and capital appreciation potential?

Tanjong Pagar's status as a major East-West Line interchange with connections to secondary transport networks—including bus corridors and future enhanced rail connections—creates structural demand support for properties positioned within convenient walking distance. Properties within 400-600 metres of major MRT stations have historically achieved capital appreciation approximately 1-2 percentage points ahead of comparable properties in secondary precincts, reflecting consistent market preference for transport connectivity. One Bernam's 570-metre positioning delivers this MRT proximity benefit whilst avoiding the density premium and noise exposure typical of buildings directly atop major interchanges. The Tanjong Pagar station precinct has experienced accelerating intensification with redeveloped commercial properties and expanded retail offerings, suggesting continued strengthening of neighbourhood fundamentals over the medium term. For long-term appreciation prospects, the MRT proximity creates sticky demand from both owner-occupiers and investors, supporting price resilience through market downturns and providing natural supports for appreciation when market conditions normalise. The seven-minute walk is critically short enough to influence daily transportation choices and reduce vehicle ownership imperative, yet sufficiently distant that the property benefits from quieter, less congested streetscapes than units positioned directly above the station.

Is One Bernam suitable for first-time buyers, and what financial barriers might apply?

At S$2.25 million, One Bernam is positioned well beyond the typical first-time buyer segment, which in Singapore generally clusters in the S$400,000 to S$800,000 range. First-time purchasers targeting this property would require either accumulated savings, significant family contribution, or inheritance to satisfy down-payment obligations and ABSD-free acquisition (if eligible for first-timer exemptions). The high absolute price means most first-time buyers would require maximum bank financing, typically 80 per cent for first-time purchases, necessitating S$450,000 cash deposit plus legal and other costs. Debt servicing on a S$1.8 million mortgage at current interest rates (approximately 4.5-5 per cent) would require gross monthly household income of approximately S$13,500-S$14,500, restricting practical accessibility to high-income professional households. The broader concern for first-time buyers is that overstretching to acquire a property at this price point leaves minimal financial flexibility for life events, market volatility, or future upgrades. However, first-time buyer couples in senior professional roles (legal, medical, finance sectors) with dual high incomes and family wealth support may find One Bernam's central location and quality specification genuinely appealing, offering the option to skip intermediate property purchases and move directly into a long-term primary residence.

What Total Debt Servicing Ratio headroom exists at S$2.25 million with typical bank lending?

Under Singapore's TDSR framework, most banks apply an 80 per cent LTV ceiling on residential mortgage financing, indicating a purchaser would need S$450,000 cash down payment with S$1.8 million mortgaged. TDSR limits dictate that total monthly debt obligations (mortgage, car loans, credit cards, personal loans) cannot exceed 60 per cent of gross monthly income. At current interest rates of 4.5-5.2 per cent on a 30-year mortgage, monthly loan servicing on S$1.8 million reaches approximately S$9,100-S$9,900. For the mortgage alone to fall within TDSR limits, this requires gross monthly household income of at least S$15,200-S$16,500; with existing credit facilities or car payments, required income escalates proportionally. A household with gross income of S$15,000 would find minimal headroom for additional debt and would struggle to satisfy banking requirements for anything beyond the mortgage itself. Purchasers in the S$18,000-S$25,000 monthly income range sit comfortably within TDSR parameters, with meaningful room for car loans, credit facilities, and future contingencies. For buyers approaching the financing limit, salary bonuses or dual-income stability becomes material to banking assessment; lenders typically apply conservative weighting to variable income components, potentially reducing financeable quantum for commissioned or bonus-dependent earners.

How does One Bernam compare to competing two-bedroom developments in Tanjong Pagar and Outram?

The Outram and Tanjong Pagar precincts contain several competing developments offering two-bedroom configurations at comparable price points, including properties in more recently completed blocks and older-vintage conversions. Developments positioned directly on Tanjong Pagar MRT station access points typically command premiums of 8-12 per cent relative to One Bernam's price, reflecting zero-distance transport access; conversely, properties positioned 15+ minute walks away trade at 10-15 per cent discounts. One Bernam's seven-minute walk positioning creates optimal price-point efficiency, capturing most MRT proximity benefits whilst avoiding the premium paid by units in directly-above-station buildings. Competing properties in nearby conservation shophouse conversions (which command heritage appeal and architectural character) typically achieve higher prices on a psf basis, though with smaller absolute units; competing modern condominium stock in the same vintage and configuration typically ranges within 5-8 per cent of One Bernam's valuation, suggesting fair competitive positioning. The development's exact amenity stack, maintenance quality, and management reputation relative to competing properties will influence relative value; properties in buildings with superior facilities, lower maintenance costs, or more engaged ownership communities typically achieve stronger resale premiums and rental appeal. Prospective buyers should conduct comparative site visits and review recent transaction history for competing blocks to confirm One Bernam's competitive positioning.

Which floor levels and unit stacks represent optimal value proposition within One Bernam?

Within this class of condominium, floor levels 5-25 typically represent optimal value; low floors (2-4) suffer from street noise and reduced natural light despite modest price discounts, whilst very high floors (35+) command premiums of 8-15 per cent without proportionate utility benefits for a two-bedroom configuration. Mid-range floors (8-20) capture genuine noise and privacy benefits whilst offering practical proximity to lift lobbies and emergency egress, with pricing typically 3-5 per cent below very high-floor equivalents. Units positioned away from lift lobbies and corner stack locations generally command 3-7 per cent premiums due to superior privacy and superior light access; corner units offering dual exposures are particularly sought after and may achieve 5-10 per cent premiums relative to standard stack configurations. For investors, units positioned to capture rental appeal focus on practical configuration and quiet location over view premium; tenants demonstrably prioritise liveable space, natural light, and freedom from noise above status-oriented features. Floors 10-18 in non-corner, lift-lobby-remote stack positions typically represent sweet spot value propositions—commanding reasonable pricing whilst delivering genuine practical advantages to owner-occupiers and tenants alike. Buyers should insist on unit-specific floor plans and site visits before committing, as micro-location variations within the same development can influence daily livability and long-term value trajectories.

What future development pipeline exists for Bernam Street, Outram, and surrounding precincts?

The Outram planning area has been identified within Singapore's urban development strategy as a precinct benefiting from intensified mixed-use activation, with several approved residential and commercial development sites in various stages of approval and planning phases. The broader Outram-Maxwell corridor is positioned to capture spillover demand from constrained central precincts, suggesting continued supply of competitive new stock over the next 5-10 years. Several new residential tower projects have received planning approval for adjacent precincts (including portions of Eu Tong Sen Street and nearby blocks), introducing supply competition that may exert downward pricing pressure on older-vintage stock like One Bernam; however, the renovation and heritage quality of Bernam Street itself has been identified for urban conservation emphasis, reducing likelihood of wholesale demolition and replacement in the immediate vicinity. Longer-term infrastructure improvements—including expanded MRT connectivity, pedestrian environment enhancements, and mixed-use retail intensification—should support value appreciation for established properties like One Bernam. The balance between new supply introduction (which creates pricing competition) and structural area improvements (which support appreciation) suggests One Bernam's future value proposition will depend materially on maintenance quality and active buyer-base engagement; properties in well-maintained developments with robust ownership participation typically outperform those in buildings experiencing deferred maintenance or ownership fragmentation during supply-heavy market phases.

Is One Bernam better suited as a long-term owner-occupier investment or rental property?

One Bernam works credibly well as both primary residence and rental investment, though suitability varies based on buyer circumstances and timeline. For owner-occupiers with 15+ year occupancy horizons and genuine personal affinity for central living, Bernam Street's character, walkable precinct environment, and transport connectivity create compelling long-term utility beyond pure financial return; such buyers benefit from lifestyle advantages that justify the S$2.25 million commitment regardless of modest capital appreciation trajectories. For investors focused strictly on rental yield, One Bernam's 2.4-2.9 per cent gross yield and 1.8-2.4 per cent net yield position it as yield-generative but not yield-optimised relative to newer suburban condominium stock offering 3-4 per cent gross yields; the trade-off is central location demand resilience and professional tenant base quality, which supports consistent occupancy and rent growth aligned with CBD salary expansion. Medium-term hold investors (5-10 years) balancing yield and appreciation benefit from One Bernam's transport connectivity and address quality, which should support steady capital appreciation of 2-4 per cent annually when market conditions normalise. First-time investors with limited portfolio size should recognise that central location rental properties attract more stringent tenant expectations and higher maintenance outlays than suburban units; the greater sophistication required in management and tenant relations argues toward owner-occupancy as the more practical first investment approach. Owner-occupiers eventually transitioning to portfolio accumulation represent the optimal buyer cohort for One Bernam—securing a quality residence while building an asset positioned to appreciate modestly and generate supplementary rental income if future circumstances necessitate relocation.

One Bernam 2-Bed Condo S$2.25M | Tanjong Pagar MRT