MCC Land is launching the 665-unit 1 Canberra executive condo (EC) located along Yishun Drive today.
Units at the 99-year leasehold project (pictured) are likely to be priced between S$680 psf to S$720 psf, which experts feel is reasonable.
1 Canberra comprises three- and four-bedroom units that range from 950 sq ft to 1,259 sq ft and 1,250 sq ft to 1,442 sq ft respectively. Five-bedder penthouses that range from 2,250 sq ft to 2,713 sq ft are also available.
Extended families may opt to buy dual-key apartments — a studio unit that’s usually attached to either a three- or four-bedroom unit. Sitting on a 292,280 sq ft land site, the project will likely be completed by Q3 2015.
Mohamed Ismail, Chief Executive of PropNex Realty, anticipates a strong take-up for the EC, which offers an attractive location and design, aside from “a resort lifestyle feel”. He added that an average price of S$700 psf is affordable for home buyers.
“The EC is located in a cluster of private properties… As Yishun is an older estate, it enjoys a strong hinterland of upgraders from there and surrounding areas like Sembawang.”
Joseph Tan, Executive Director for Residential at CBRE, which is marketing the premier development, noted that “executive condominiums come with good finishes and full condominium facilities, no different from any mass market private homes”.
He added that pricing for ECs are typically 20 to 25 percent below mass market private homes located in the area — “a very attractive avenue for aspiring first-time owners to enter the condominium market”.
Aside from being close to Yishun MRT station, the developer has guaranteed potential residents with free two-way shuttle bus rides for the first two years.
Buyers can make their applications for the project which ends on 9 May.
Related Stories:
Applications for Watercolours EC to start next Tuesday
New DBSS project to launch at Pasir Ris
Katong Regency is 70% sold out