Besides Sembawang and Canberra MRT stations that serve residents in the area, another boost to connectivity is the Thomson-East Coast Line, which interlinks with the North-South line at Woodlands station. 

New amenities in the area include the Canberra Plaza shopping centre and Bukit Canberra, a sports and community hub that has a hawker centre, indoor sports hall, swimming complex and a polyclinic.

“These enhancements in Sembawang have not only improved the quality of life for its residents but have also contributed to the positive perception of the area, making it an attractive option for property buyers,” said Mr Sandrasegeran.

“These developments have likely played a pivotal role in the observed increase in resale prices of flats in the area.”

He attributes the spike in resale prices to buyers’ interest in newer flats.

Based on data.gov.sg, 1,011 resale flats were sold in Sembawang in 2023. About 42 per cent were flats that had just passed their minimum occupation period (MOP).

With longer remaining leases and minimal wear and tear, these flats are often more attractive to home buyers.

“The entry of these flats into the market post-MOP introduced more options for potential home buyers, likely driving demand and contributing to the overall volume of resale transactions in Sembawang,” he said.

He added that over the past few years, a significant number of residential estates across Singapore have seen million-dollar transactions, apart from Choa Chu Kang, Jurong West, Sembawang and Sengkang.

More than 2,000 flats in Sengkang and Sembawang are expected to reach their MOP in 2024 and unit resales have gradually increased to above S$745,000.

“It is likely we may see a first million-dollar transaction in these estates in the near future,” he added.

Mr Sandrasegeran said that in recent years, non-mature estates such as Punggol and Sengkang have witnessed urban transformations, enhancing their attractiveness to home buyers.

These developments have started to “blur the traditional distinctions between mature and non-mature estates in terms of appeal”.

According to HDB data, a four-room flat in Punggol – a non-mature estate – commanded a median resale price of S$605,000.

In contrast, the median resale price of a four-room flat in nearby Pasir Ris – a mature estate – was S$555,000.

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