Canberra Crescent Residences Achieves 40 Sales Launch Weekend Average Price 1974 Psf
Canberra Crescent Residences, a 99-year leasehold condominium in Sembawang, was officially launched by developers Keng Leong Co. and Low Keng Huat on August 2. The private condo has received a positive response, with 150 out of 376 units, or 40% of the total, already sold. The average price of units sold was $1,974 per square foot.
Wee Teng Yuan, deputy director of Kheng Leong Co., expressed satisfaction with the project’s reception. “We believe that our average price of $1,974 psf at Canberra Crescent Residences is very competitive when compared to recent transacted prices of new homes in the mass market segment,” he said.
Data from PropNex Research shows that 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.
According to Kheng Leong, the most popular units at Canberra Crescent Residences were the two- and three-bedroom units, which accounted for 80% of the sales. The small number of one-bedroom units, totaling only three, have already been fully taken up at prices starting from $880,000. About one-third of the 84 four-bedroom units have also been sold.
CEO of ERA Singapore, Marcus Chu, noted that most buyers were HDB upgraders familiar with the area. With nearly 8,600 flats in Sembawang reaching their minimum occupation period (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, 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 home, added Chu.
Canberra Crescent Residences is the first new launch in the OCR since the first quarter of 2025, when a number of projects were launched, including 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 941-unit Springleaf Residence, located in the Springleaf area off Upper Thomson Road, previewed on August 1 and is expected to see strong demand. Another project, the 403-unit Faber Walk Residences, is set to launch later this year.
According to Kelvin Fong, CEO of PropNex, Canberra Crescent Residences is the first new project in the Canberra area in four years. The last new projects in the area 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 were sold in the sub-sale market at an average price of $1,744 psf, representing 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 $1,772 psf, a 19% increase from its launch price.
Parc Canberra, an executive condominium with 496 units developed by Hoi Hup Realty and Sunway Developments, was launched in February 2020 and sold out at an average price of $1,101 psf. The project was completed in November 2023.
Apart from Canberra, Canberra Crescent Residences is also the first new launch in the northern region since Norwood Grand in October 2024, according to Mark Yip, CEO of Huttons Asia. Norwood Grand, a 348-unit project in Woodlands, is 85% sold at an average price of $2,066 psf. Yip believes this reflects the strong demand for new properties in the north, which supports the current pricing of Canberra Crescent Residences.
Located near Bukit Canberra, an integrated sports and community hub, and Canberra Plaza, a suburban mall, Canberra Crescent Residences is expected to have good growth potential. Coupled with its competitive pricing, Fong believes the government’s transformation plans for the Sembawang North area will attract the attention of potential buyers.
According to the URA Master Plan 2025, Sembawang North will be transformed into a vibrant new housing area, while Sembawang Shipyard will be converted into a lively waterfront lifestyle precinct.
Yip also added that there may be a new Seletar MRT line from Woodlands to the Greater Southern Waterfront, potentially including a Sembawang station, providing an alternative route to the city. With all these developments in the pipeline, it is no wonder that Canberra Crescent Residences is set to be a highly sought after property in the OCR segment.
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