Canberra Crescent Residences, a 99-year leasehold condominium in Sembawang, was officially launched by joint developers Keng Leong Co. and Low Keng Huat on August 2. The private condo has already achieved an impressive sales figure of 150 out of 376 units, representing a 40% take-up rate. The average price of the units sold was $1,974 per square foot.
According to Wee Teng Yuan, deputy director of Kheng Leong Co., the project has received a positive response from buyers. “We are pleased with the average price of around $1,974 psf at Canberra Crescent Residences, which is very attractive compared to recent transacted prices of new mass market homes,” he said.
Statistics from PropNex Research show that the average unit price of new non-landed private homes sold in the Outside Central Region (OCR) was over $2,300 psf from January to July 2025, based on caveats lodged to date.
The most popular types of units at Canberra Crescent Residences were the two- and three-bedroom units, which together accounted for 80% of the sales. The one-bedroom units, which make up only three units, were fully sold at prices starting from $880,000. About a third of the 84 four-bedroom units have also been sold.
Marcus Chu, CEO of ERA Singapore, notes that the majority of buyers are HDB upgraders who are familiar with the area. With nearly 8,600 flats reaching their minimum occupation permit (MOP) in Sembawang from 2021 to 2025, there is a large pool of potential upgraders. In the first half of 2025, 68 four-room and larger flats were sold for over $800,000, allowing these homeowners to upgrade to private property.
The project features mostly three- and four-bedroom units, making it a suitable choice for families looking to buy their own home, adds Chu.
Canberra Crescent Residences is the first new launch in the OCR since the first quarter of 2025, when several projects in the area were introduced, according to Kelvin Fong, CEO of PropNex. These include ParkTown Residences, a 1,193-unit development in Tampines North, Bagnall Haus, a 113-unit project on Upper East Coast Road, and Elta, a 501-unit development on Clementi Avenue 1.
Next in line is Springleaf Residence, a 941-unit project located in the Springleaf area off Upper Thomson Road, which had its preview on August 1. There is also Faber Walk Residences, a 403-unit project set to launch later this year, adds Fong.
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According to Mark Yip, CEO of Huttons Asia, Canberra Crescent Residences is the first new private condo project in the area in four years. The last new developments were The Watergardens at Canberra and The Commodore, both launched in 2021.
The Watergardens at Canberra, with 448 units, was launched in August 2021 at $1,446 psf. It sold out by March 2023 and was completed in 2024. From January to July 2025, 19 units were resold at an average of $1,744 psf, marking a 20.6% increase from the original launch price. The Commodore, a 219-unit project, was fully sold by June 2023 at $1,489 psf. Since December 2024, 11 units have been resold in the sub-sale market at an average of $1,772 psf, representing a 19% increase from the average launch price.
Parc Canberra, an executive condo with 496 units developed by Hoi Hup Realty and Sunway Developments, was launched in February 2020. Units were sold out at an average of $1,101 psf, and the project was completed in November 2023.
Apart from being the first new condo launch in Canberra in four years, Canberra Crescent Residences is also the first in the northern region since Norwood Grand in October 2024, according to Huttons’ Yip. Norwood Grand, a 348-unit project in Woodlands, is 85% sold at an average price of $2,066 psf. Yip believes it reflects the strong demand for new properties in the north, which supports the current pricing level of Canberra Crescent Residences.
Location and future growth drivers make Canberra Crescent Residences an attractive choice, as it is situated near Bukit Canberra, an integrated sports and community hub, and Canberra Plaza, a suburban mall. The project also has good growth potential, according to Yip.
In addition to its competitive pricing, Fong from PropNex expects the government’s transformation plans for Sembawang North to draw buyers’ attention to the area. The URA Master Plan 2025 reveals that Sembawang North will be transformed into a vibrant new housing area, while Sembawang Shipyard will become a lively waterfront lifestyle precinct.
Yip from Huttons adds, “There may also be a new Seletar MRT line from Woodlands to the Greater Southern Waterfront, potentially including a Sembawang station. This could provide an alternative route to the city.”