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Joint developers Keng Leong Co. and Low Keng Huat have officially launched Canberra Crescent Residences, a 99-year leasehold condominium in Sembawang. The highly anticipated private condo achieved an impressive 40% take-up with 150 units sold out of the 376 units available. The average price for the sold units was $1,974 psf, making it a highly sought-after development among homebuyers.

Wee Teng Yuan, Deputy Director of Kheng Leong Co., expressed his satisfaction with the project’s response, stating, “We are pleased with the initial sales of Canberra Crescent Residences. Our average price of around $1,974 psf is very competitive 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 more than $2,300 psf between January and the end of July 2025, based on caveats filed to date.

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Canberra Crescent Residences’ most popular unit types were the two- and three-bedroom units, accounting for 80% of the total sales. The one-bedroom units, comprising just three units, were fully taken up at prices starting from $880,000, while about one-third of the 84 four-bedroom units have been sold.

Marcus Chu, CEO of ERA Singapore, noted that most buyers are HDB upgraders familiar with the area. Sembawang saw nearly 8,600 flats reaching their minimum occupation period (MOP) between 2021 and 2025, creating 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.

Approximately 75% of the units at Canberra Crescent Residences have three or four bedrooms, making it an ideal choice for families looking to purchase their own homes, according to Chu.

Canberra Crescent Residences is the first new OCR launch since the first quarter of 2025, when several OCR projects came onstream, says Kelvin Fong, CEO of PropNex. These included 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 expected to launch is the 941-unit Springleaf Residence, located in the Springleaf area off Upper Thomson Road, which previewed on August 1. Another project in the pipeline for launch later this year is the 403-unit Faber Walk Residences, adds Fong.

Huttons Asia CEO Mark Yip points out that Canberra Crescent Residences is the first new private condo launch in the Canberra area in four years. The last new projects 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. Between January and July 2025, 19 units changed hands in sub-sales at an average of $1,744 psf, representing a 20.6% increase compared to the original launch price. The Commodore, a 219-unit project launched in November 2021, was fully sold by June 2023 at $1,489 psf. Since December 2024, 11 units have resold in the sub-sale market at $1,772 psf, showing a 19% increase from its 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 fully sold out at an average of $1,101 psf, and the project was completed in November 2023.

Canberra Crescent Residences is also the first new launch in the northern region since Norwood Grand in October 2024, says Yip. Norwood Grand, a 348-unit project in Woodlands, is 85% sold at an average price of $2,066 psf. According to Yip, this reflects the strong demand for new properties in the north, supporting the positioning of Canberra Crescent Residences at its current pricing level.

The location and future growth drivers of Canberra Crescent Residences make it a highly desirable development. It is situated near Bukit Canberra, an integrated sports and community hub, as well as Canberra Plaza, a suburban mall. According to Yip, the project has excellent growth potential.

Fong from PropNex also expects the government’s transformation plans for Sembawang North to attract homebuyers to the area. The URA Master Plan 2025 shows that Sembawang North will be transformed into a vibrant new housing area, while Sembawang Shipyard will be converted into a lively waterfront lifestyle precinct.

Yip 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.”