Canberra Crescent Residences, a 99-year leasehold condominium located in Sembawang, was jointly launched by developers Keng Leong Co. and Low Keng Huat on August 2. The private condo has already achieved a 40% take-up rate with 150 units sold out of the 376 units available. The average price of units sold was $1,974 psf.
Wee Teng Yuan, deputy director of Kheng Leong Co., considers the project to be well-received. He states, “We believe our average price of around $1,974 psf at Canberra Crescent Residences is very attractive when compared to recent transacted prices of new mass market homes.” According to PropNex Research, the average unit price of new non-landed private homes in the Outside Central Region (OCR) was over $2,300 psf from January to July 2025, based on caveats lodged to date.
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Canberra Crescent Residences has received strong interest from buyers, with the most popular unit types being the two- and three-bedroom units, which made up 80% of the sales. The three available one-bedroom units were fully sold at prices starting from $880,000, while about one-third of the 84 four-bedroom units have also been sold.
According to Marcus Chu, CEO of ERA Singapore, the majority of buyers are HDB upgraders who are familiar with the Sembawang area. With nearly 8,600 flats in Sembawang reaching their minimum occupation permit (MOP) 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, giving these homeowners the opportunity to upgrade to a private property. Additionally, approximately 75% of the units at Canberra Crescent Residences have three or four bedrooms, making it an appealing choice for families looking to purchase their own home.
Canberra Crescent Residences is the first new private condo launch in the OCR since the first quarter of 2025 when a number of other projects were launched, such as the 1,193-unit ParkTown Residences in Tampines North, the 113-unit Bagnall Haus on Upper East Coast Road, and the 501-unit Elta at Clementi Avenue 1. The next project to be launched is the 941-unit Springleaf Residence, located in the Springleaf area off Upper Thomson Road, which previewed on August 1. Another project set to launch later this year is the 403-unit Faber Walk Residences.
Mark Yip, CEO of Huttons Asia, notes that Canberra Crescent Residences is the first new private condo project in the Canberra area in four years. The last new projects were The Watergardens at Canberra and The Commodore, launched in 2021. The Watergardens at Canberra, with 448 units, sold out by March 2023 at an average of $1,446 psf and was completed in 2024. Between January and July 2025, 19 units were sold in the sub-sale market at an average of $1,744 psf, which reflects a 20.6% increase from the original launch price. The Commodore, a 219-unit project, sold out in June 2023 at $1,489 psf. Since December 2024, 11 units have been resold in the sub-sale market at $1,772 psf, a 19% increase from the initial launch price. Parc Canberra, an executive condo with 496 units developed by Hoi Hup Realty and Sunway Developments, was launched in February 2020 and sold out at an average of $1,101 psf. The project was completed in November 2023.
Apart from being the first new launch in the northern region in four years, Canberra Crescent Residences is also the first new launch since Norwood Grand in October 2024, according to Huttons’ Yip. Located in Woodlands, Norwood Grand has 348 units and has sold 85% of its units at an average price of $2,066 psf. Yip states, “This reflects the strong demand for new properties in the north and supports the positioning of Canberra Crescent Residences at its current pricing level.”
Located near Bukit Canberra, an integrated sports and community hub, as well as Canberra Plaza, a suburban mall, Canberra Crescent Residences has good potential for growth according to Huttons’ Yip. In addition to its competitive pricing, PropNex’s Fong expects the government’s transformation plans for the Sembawang North area to draw buyers’ attention. The URA Master Plan 2025 shows that Sembawang North will be developed into a vibrant new housing area, while the Sembawang Shipyard will be converted into a lively waterfront lifestyle precinct. Furthermore, Huttons’ Yip states, “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.”