PROJECT DETAILS
The Urban and Development Board (URA) has sold 2 private residential sites in Canberra Drive, about 3 minutes walk to new Canberra MRT Station, as part of Government Land Sales (GLS), in 1st quarter of 2020. They are located within walking distance to Canberra MRT Station, on North-South Line, which turned operational since 2019.
Canberra, in the Northern Region of Singapore, is turning itself into a new estate and is increasing in popularity as an integrated estate. It is located between Yishun and Sembawang housing estates. The residents will benefit not only from Canberra MRT Station but also Bukit Canberra, an upcoming sports and community hub which is set to open progressively from 2020. The sites are also walking distance to both new Canberra Plaza and Sembawang Shopping Centre.
The 2 GLS sites along Canberra Drive are nestled and bounded by Jalan Sendoduk, Jalan Kemuning and new road Canberra Drive. They face the landed houses of Sembawang and are listed under the confirmed list of sites and are allocated to be developed into private condominiums.
Parcel A was sold to Oasis Development, a unit of boutique developer, JBE Holdings Group. It spans an area of 143,325 square feet and can yield about 220 housing units.
The larger Parcel B has an area of 296,721 square feet. It is sold to United Venture under UOL Group. It can yield about 455 units.
These 2 land parcels can build to a maximum of 5 storeys and are expected to launch in the range of S$1350psf.
Shall I wait further? I believe that the property prices will go down.
New Condo at Canberra Drive- Connectivity
New and upcoming Condo in Canberra Drive, is a stone throw away, besides new Canberra MRT Station. New Canberra Drive Condo's residents can experience fast and convenient commuting to City area and various parts of Singapore with this public transportation system.
At the present moment, Canberra Drive is approximately 21 minutes drive away from Orchard Shopping Belt. It will take around 24 minutes’ of driving to reach the Central Business District (CBD), City Centre. Drivers can also use Canberra Link which is next to New Condo to access to the Seletar Expressway (SLE).
When the future North South Expressway be ready in 2026, it will serve the residents in the North, bringing them to City Centre and saving them up to 30% of travelling time. Transportation in the North Region will expand manifold.
New Condo at Canberra Drive- Education
The established local schools that are within a short distance from New Canberra Drive Condo. They include Sembawang Primary School, Wellington Primary School, Chongfu Primary School, Ahmad Ibrahim Primary School, Canberra Primary School, Yishun Primary School, Endeavour Primary School, Xishan Primary School, Jiemin Primary School.
Higher education schools include Ahmad Ibrahim Secondary School, Sembawang Secondary School, Northland Secondary School, Canberra Secondary School, Yishun Town Secondary School and Yishun Secondary School. New Condo in Canberra Drive is also a short drive away to Yishun Junior College.
New Condo at Canberra Drive- Amenities
For dining, shopping, entertainment and leisure facilities, New Canberra Drive Condo residents can take a short walk down to Sembawang Shopping Centre where numerous retail shops and dining are there to serve residents' needs. There are several eateries located at the shophouses along Sembawang Road.
New Canberra Plaza, opposite Canberra MRT, will have Learning, Education and Dancing Schools, Bakeries, Star Bucks, Cafes, NTUC, Cold Storage and other retail shops, hence bringing further conveniences to future residents of Canberra.
Other nearby shopping marts include the Sun Plaza which is located at next to Sembawang Train Station and residents can also take a bus down to the Yishun Town Centre or just 1 MRT Station away, with North Point City. Here are more than 300,000 square feet of retail spaces, large hyper mart providing numerous dining, shopping, leisure and entertainment facilities for Canberra Drive Condo future residents.
New Canberra Drive Condo has good amenities and is also near Chong Pang City, a neighbourhood cluster where its residents can get their groceries and basic necessities. Many shops such as mini-marts, clinics, beauty salons, etc. are located in Chong Pang City.
There is a park connector besides New Canberra Drive Condo development which goes through the serene private residential estate to reach the Sembawang Park, which offers lush greenery in a laid back environment which New Condo future residents can relax in. Sembawang Park is also a famous fishing spot and future residents can have a short and comfortable stroll or jog there.
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|
Project |
Canberra Drive New Condo Parcel A |
| Developer | Oasis Development by JBE Holdings |
| Location | Canberra Drive (Sembawang Planning Area) |
| District | 27 |
| Tenure | 99 years leasehold |
| Site Area | 13,315 square metres/ 143,325 square feet |
| GFA: | 18,641 square metres/ 200,655 square feet |
| Plot Ratio | 1.4 |
| Expected TOP: | |
| Total Units | approximately 235 residential apartments |
| Total Carpark | |
| Development | Private Condominium comprising of full communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and foreigner can buy (No Restriction) |
|
Project |
Canberra Drive New Condo Parcel B |
| Developer | United Venture Development (UOL Group) |
| Location | Canberra Drive (Sembawang Area) |
| District | 27 |
| Tenure | 99 years leasehold |
| Site Area | 27,565 square metres/ 296,719 square feet |
| GFA: | 38,592 square metres/ 415,407 square feet |
| Plot Ratio | 1.4 |
| Expected TOP: | |
| Total Units | Approximately 470 residential apartments |
| Total Carpark | |
| Development | Private Condominium comprising of full communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and foreigner can buy (No restriction) |
LOCATION MAP and AMENITIES
New and Upcoming Condos in Canberra Drive are standing behind new Canberra MRT station, along the North-South Line. A less than a 5 minutes walk distance to the Canberra MRT Station adds convenience and efficiency to the residents of the Condos in Canberra Drive.
Residents will have the convenience of getting daily necessities in Sembawang Shopping Centre and new Canberra Plaza, where there are Learning, Education and Dancing Schools, Bakeries, Cafes, NTUC, Cold Storage and other retail shops, hence bringing further conveniences to future residents of Canberra.
The land site is longish in shape. Towards its West are the landed housing and towards North-west is Canberra Residences and The Nautical.
On its South and South-East facing, are Sembawang Spring Estate and One Canberra.
Amenities Near New Condo in Canberra Drive
| Category | Important Amenities Near New Canberra Drive Condo | Approximate Distance |
| Train Stations | Sembawang (NS13) Canberra (NS12) |
1.0km 0.2km |
| Bus Stop | Bef Yishun Avenue 2 (Bus: 169) Aft Yishun Avenue 2 (Bus: 169) |
0.4km 0.5km |
| Supermarkets | Giant (Sembawang Shopping Centre) Fairprice (Sun Plaza) Cold Storage (Northpoint) Prime (761 Yishun) |
0.4km 1.1km 2.0km 2.3km |
| Shopping Malls | Sembawang Shopping Centre Sun Plaza Sembawang Mart Chong Pang City |
0.6km 1.1km 1.3km 1.6km |
| Education Institutions | Preschool | |
| Edelweiss Kindergarten PCF Sembawang Blk 507D-501D-503C PCF Chong Pang Blk 317-315 PCF Canberra Blk 330-319-327-328 Zulfa Kindergarten @ Sembawang Mart PCF Canberra Blk 468D-468C PCF Canberra Blk 487-488 Hope Community Kindergarten (Sembawang) |
0.6km 0.9km 0.9km 1.2km 1.3km 1.7km 1.8km 1.8km |
|
| Primary | ||
| Sembawang Primary School Wellington Primary School Chongfu Primary School Ahmad Ibrahim Primary School Canberra Primary School Yishun Primary School Endeavour Primary School Xishan Primary School Jiemin Primary School |
0.8km 1.0km 1.4km 1.5km 1.5km 1.5km 1.6km 1.8km 2.0km |
|
| Secondary | ||
| Ahmad Ibrahim Secondary School Sembawang Secondary School Northland Secondary School Canberra Secondary School Yishun Town Secondary School Yishun Secondary School |
1.1km 1.3km 1.7km 1.8km 1.8km 2.0km |
|
| Junior College | ||
| Yishun Junior College | 2.3km | |
| Tertiary | ||
| Republic Polytechnic | 4.7km | |
| International | ||
| Singapore American School | 6.4km | |
| Food Centre | Chong Pang Market & Food Centre | 1.6km |
| Lifestyle | Montreal Green Admiral Country Club Eagle Club Yishun Neighbourhood Park Terror Club HomeTeamNS @ Sembawang |
0.4km 0.5km 0.8km 1.2km 1.4km 1.6km |
SITE PLAN and FLOOR PLANS E-BROCHURE
The Facilities and Site plan of new Condo at Canberra Drive, Sembawang, are currently seeking approval from relevant authorities.
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SINGAPORE PROPERTY MARKET- WILL THE PROPERTY PRICES IN SINGAPORE BE COMING DOWN?
Singapore’s property market has one of the best long term returns on equity performance out of most investment instruments available.
And that has to do largely with the strength of the Singapore dollar, the availability of high leverage, and the attraction of Singapore to the international audience, not just as a region to invest in, but as an asset class on its own.
The Singapore Income growth index has increased over the years and reached an equilibrium with the property price index. Unlike during the mid 2000s, property prices increased to a level which was out of reach to many Singaporeans. This makes prices of condo affordable and per month debt repayment manageable. With an average household income of S$13,000, a couple can choose to purchase a condo price at $2.3m. A good size 3 bedrooms cost around S$1.6m in today's market. Debt ratio versus income has dropped. The drop in interest rate has further reduced the per month repayment.
Not only has income in Singapore grown over the years, the household liabilities has dropped significantly for the past decade as well while the property price index held stagnant since the tightening of measures in 2013, TDSR was implemented. Property price index had been stagnant. We had lost 7 years of property prices growth.
During this time, Singapore has structured itself also with a younger working population. This is important as the younger generation are able to drive better our GDP and as well as our consumption growth. Our GDP growth has well exceeded our property price growth during this period.
Forbearance programmes are offered by banks for clients who need short term relief in their installment payment but I see that there will not be many people who need to be utilising this. If you are a buyer looking for investment, do whatever you can to build up some cash reserves, for up to a year would be good, to protect yourself from mortgages.
Singapore shall continue with our productivity growth and further restructure our economy with new jobs.
The Economic Development Board (EDB) has managed to secure $13 billion in investment commitments in the first four months of 2020, which has surpassed the targets for the whole year. These investments come partly from electronics and infocomm media sectors. Thousands of jobs will be generated. Due to the change in the market, more jobs will be added to Singapore's capitalisation of the IT industry, namely, semiconductor as Singapore rolls out the 5G technology. We have changed our way of working and our daily lives with the recent pandemic, it has fastern the route on our reliance on the IT, so more jobs will be created in the e-commerce and the digital economic space. Singapore is moving forward with a greater productivity to remain competitive, because in the long run, this is what matters.
Anti-speculation measures have also been implemented over the course of 8 measures. Average holding period for a property has been increased to 8 years.
Additional stamp duty (ABSD) are imposed on buyers for 2nd and 3rd property onwards and slightly higher for PRs. Foreigners who want to have a stake in Singapore's properties will need to pay an additional of 20% in taxes.
Qualifying certificate and additional stamp duties (ABSD) are imposed on developers as well to ensure that there is no hoarding of land by them.
There is alot of buyers in the market looking to buy a real estate for investment. Please do keep an eye on the number of people buying a home, the available supply of homes for purchase in the market and foreclosure if any. The way that I see, it is unlikely to see a state of foreclosure in Singapore. I am certain to see more buyers than sellers. We have worked for this for the past decade and shall see ourselves coming out of the de-leveraging process. We shall see a gradual growth and sustainable price increase in Singapore homes.
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CHECKLIST REQUIREMENTS
Before you embark on searching for your investment property, it is important to have gone through this checklist below.
1. Finances
We will advise about your finances to understand the initial cash/Central Provident Fund (CPF) outlay required.
Having an experienced third party do an assessment would help you prevent costly beginner mistakes that could seriously hamper your journey to financial freedom.
We will help you assess the minimum cash and CPF required for the down payment, buyer stamp duties, legal fees and miscellaneous costs, as well as advise you on an investment road map for the best acquisition strategy as you progress along and acquire more properties.
2. Loan eligibility
The current Total Debt Servicing Ratio (TDSR) framework makes it especially important for investors to check on their maximum loan eligibility so that there are no nasty surprises after placing a deposit.
In this case, this should be one of your priorities early on and we will assist you on this.
3. Manner of holding
For investors who already own an HDB flat or private home and are acquiring their second property, we will advise you on the various options available to optimise tax savings (which can be significant) and qualify you for more funding options.
This is especially important for those who intend to grow their portfolio of properties and would require access to higher leverage and lower costs.
4. Investment goal and horizon
Having a clear idea of your investment goal horizon helps you narrow down the segments you should focus on; saving you precious time and energy.
Examples
– Are you investing in properties to provide a consistent source of passive income?
In this case, focus on areas with low vacancy rates and a high tenant catchment pool.
– Are you investing in properties short term to ride the market trend?
In this case, are you financially prepared to hold on in case a black swan event occurs?
– Are you investing in properties with en bloc potential?
In this case, are you well advised on which properties have genuine potential?
Not all old properties have en bloc-ability.
After going through the above points, the following are factors that have served me and my clients well in the past as an investment criteria checklist.
CONDOS WITHIN WALKING DISTANCE OF CANBERRA MRT STATION AND THEIR PRICE TRENDS
Canberra MRT Station, started its operation in 2019, along the North-South Line. Canberra is turning into a new town with many new amenities and education centre. Here is a list of condominiums that are just a short walk from the newly opened MRT Station.
The Nautical
Located next to Sembawang Shopping Centre, The Nautical. a 99-year leasehold, consist of 435-unit development that is bounded by Jalan Sendudok and Sembawang Road. It is about 900 metres to Canberra MRT. Completed in 2016, The Nautical development is a resort-style development and consists of 4 blocks.
Canberra Residences
Developed by MCC Land, Canberra Residences is a 99 years leasehold, a 320-unit development that is a resort-styled condominium and is only 5 minutes away from Canberra MRT. It consists of 320 units and unit mixes include 1, 2, 3 and 4 bedroom apartments with dual-key units included in the development as well.
The Brownstone
Influenced by New York, Brownstone EC is around a 3-minute walk from Canberra MRT. Developed by City Development and TID International, this 99-year leasehold, 638-unit EC project is set to MOP in 2024. The Brownstone's distinctive sandstone facade and jetty balconies bring New York to mind and sets it apart from other EC projects.
Yishun Sapphire
Completed in 2000, Yishun Sapphire is 99-year leasehold with 380 units. It is closer to Yishun Neighbourhood Park than the other condos but is 600m walk to Canberra MRT.
Eight Courtyards
This is a 99-year leasehold condominium. Completed in 2015 and comprises of 656 units. Eight Courtyards is relatively close to Yishun MRT Station and Canberra Mrt Station.
One Canberra
One Canberra, a 665-unit development completed in 2015. Developed by MCC Land, One Canberra has 13 towers with a mixes of 3, 4 and 5-bedroom and dual key configurations.
Recent pricing for this development has been reasonable, like this 1259 sq ft unit with an asking of $1.05 million. If you boil it down, this is a pretty fair $834 psf pricing.
NORTHERN REGION ENHANCING CONNECTIVITY
Residents of the North will experience the efficiency of the North South Expressway which will be ready in 2026 and Thomson Line, full line to be completed in stages by 2021.
Thomson Line- Rail Network by 2021
Thomson Line- More options of accessibility with lesser time travelled
Thomson Line Stages of opening
Stage 1- January 2019 to December 2019
Thomson Line TSL will be completed in 3 stages. The first stage will have 3 stations, Woodlands North MRT Station, Woodlands MRT Station and Woodlands South MRT Station.
Stage 2: January 1 2020 to December 31 2020
The second stage, which will be completed by 2020, will have 6 stations, stretching from Springleaf MRT Station to Caldecott MRT Station.
Stage 3: January 1 2021 to December 31 2021
The last stage of Thomson Line TSL which is due to be completed by 2021, stretching from Mount Pleasant MRT Station to Gardens by the Bay MRT Station, Thomson Line TSL will serve 400,000 commuters daily.
Together with North South Expressway, connectivity wil expand manifold.
14 DEVELOPMENTS THAT WILL BOOST NORTH REGION and BENEFIT RESIDENTS
Woodlands North Coast
The woodland area is going to developed it a waterfront area lined with residential and recreational properties spanning 70 hectares. There is also going to be a business center not far from the waterfront which will contain the first business spark in the North office space especially or small and medium enterprises
Woodlands Central
The area around the MRT station and the causeway Point mall is going to be upgraded into a major retail center at the heart of which will be pedestrian mall that is expected the 30 hectares that make up the hub.
Woodlands General Hospital
There are plans to have the Woodllands General hospital up and running by the year 2022. This hospital that is expected to have a 1800 beds capacity is also expected to have a nursing home within its premises
Kampung Admiralty
The Kampung Admiralty that is expected to be completed and ready for use by the year 2017 is a one stop center containing everything from shopping plaza, facilities for the young and elderly as well as residential areas.
Sun Plaza
This plaza was upgraded in 2015 with addition of retail spaces. Found within the mall are a public library and a food court.
Canberra Park
Renovation works on the Canberra Park ended in 2015 and the park was reopened thereafter. New facilities like the tai chi corner were added but what immediately stands out is the new playground that is the first All inclusive playground ever in Singapore which allows for visually impaired and other disabled children to use the facilities at the playground.
Canberra MRT Station
The Canberra MRT station has started its operation in 2019 on the North-South Line and wil serve 17,000 households in the vicinity, reducing travelling time to the Central Business District (CBD) from 50 minutes to 40 minutes and is one stop to NorthPoint City Mega Mall in Yishun.
Canberra Plaza
The Canberra Plaza has completed in 2019 is a three storey hub that contains everything a homemaker needs. From restaurants, supermarket to clinics it is a one stop shop and great for those who work most of the day. It is located close to the Canberra MRT station and will give residents here more amenities for their daily necessities.
Sembawang Shopping Centre
This is a great local destination for family outings given that it has everything from restarants to retail shops. Activites at this shopping mall will give additional convenience to the residents of Canberra.
North-South Expressway
The North South Expressway is going to be the first expressway in Singapore with dedicated lanes for buses, cyclist and pedestrians. This 21.5km highway is expected to go through areas like Sembawang, Bishan and Ang Mo Ko. It is expected that thanks to this expressway, commuters will be able to reach home or offices faster especially during peak hours
Thomson-East Coast Line
Beginning from 2019, the opening of the Thomson East Coast Line will be phased. Thanks to this line two additional Woodlands North and South will be opened. Thanks to the Thomson East Coastline and the additional MRT stations, residents of areas like Marina Bay will be able to commute directly through and from their neighbourhoods. Also it will become easier for visitors to the zoo to get to the zoo using the MRT station at Springleaf.
Cross border rail link
The cross border rail ink is going to provide a better commuting experience for cross border travelers. The planned Rapid Transit System will ink North MRT station in Woodland directly to areas like Johore Bahru. Visitors from Malaysia can spend quality time at the bus interchange with its many offices and eateries.
Bukit Canberra
Plans to build a sports and community hub in Sembawang. This hub is located between Canberra MRT Station and Sembawang MRT Station and will contain facilities like swimming pools, and centers for the young and elderly.
There is obviously going to be a big transformation in the North of Singapore beginning the 2020. All these construction works are going to be beneficial to the residents in North Region and population will increase here.
2 LAND SITES NEAR TO CANBERRA MRT STATION ARE SOLD TO UOL AND JBE GROUPS FOR CONDO DEVELOPMENTS
Canberra Drive Parcel A
All four developers who pitched for GLS site at Parcel B, the larger site, also submitted bids for Parcel A. Incidentally, the top bid for Parcel A was tabled by the only developer who did not bid for Parcel B - Oasis Development, with the highest offer of nearly $129.20 million or about $644 per square foot per plot ratio (psf ppr). Oasis Development is controlled by boutique developer JBE Holdings Group and the site can yield about 220 homes.
The top bid of SGD129.2 million or SGD644 psf ppr was 3.4% higher than the next highest bidder – MCC Land and Greatview, and slightly lower than our earlier expectation of SGD670 psf.
Canberra Drive Parcel B
Meanwhile, Parcel B – being a larger site – garnered slightly fewer bids of four, also in line with expectations. The top bid of SGD270.2 million or SGD650 psf ppr by United Venture Development was 4.8% higher than the next highest bidder – MCC Land and Greatview, and slightly below our earlier expectation of SGD670 psf.
For Parcel B, there is also a requirement to build an Early Childhood Development Centre1 (ECDC) for infant care and childcare services within the proposed development for a minimum of 10 years from the date of issuance of ECDC licence.
The two Canberra Drive GLS sites are connected to Sembawang Road and Seletar Expressway, and are a stone's throw from Canberra MRT station, as well as Sembawang Shopping Centre, Sun Plaza and Sembawang Primary School.
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