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by OrangeTee & Tie Pte Ltd.

Will Canberra MRT Kickstart A Property Fairytale?

Others

Others


Singapore, 24 Feb 2021

Located between Yishun and Sembawang, Canberra was once dotted with kampongs (villages) as well as rubber, gambier and pineapple plantations, the area’s name is inspired by a former British naval base in Sembawang that used to protect Singapore’s northern coastline. 

Fast forward to today, and Canberra is now a popular residential area in the North of Singapore for upwardly mobile young families—a more laid-back version of Punggol with a greater sense of space.

Since Canberra MRT opened in November 2019, we've used Q4 2019 as the starting point. Then, the median asking prices on PropertyGuru was $981 psf. Since then, prices have gone up. The most dramatic jump was the quarter after after, Q1 2020, which saw a 6.014% increase. 

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