This Canberra EC Will Be The First With A 10-Year MOP And Stricter Financing — Here’s What Future Prices Could Look Like

The government has launched an executive condominium (EC) site at Canberra Drive for sale today. This is the first tender for an EC development plot after a slew of changes to the EC scheme were implemented on May 8.

Read up on the changes to EC ownership in our article here: Singapore’s New EC Rules In 2026: 10-Year MOP, 15-Year Privatisation Timeline And What It Means For Buyers.

The latest EC site for sale is bounded by Canberra Drive and Jalan Sendudok, and the 124,166 sq ft plot could be developed into a new 185-unit EC project. The site is close to Canberra MRT station on the North-South Line.

Despite the revised EC measures, bidding activity for the Canberra Drive EC plot could still draw fair interest from developers, as EC demand in general remains sound, says Wong Siew Ying, head of research and content at PropNex.

This stems from the fact that ECs are still relatively affordable compared to newly launched condos today, she says, adding that the locational attributes of the Canberra Drive EC plot are also quite attractive.

Some of the location’s appeal stems from the site’s proximity to Canberra MRT station, as well as community facilities and amenities in the area such as the Bukit Canberra integrated development, Sembawang Shopping Centre, and Canberra Plaza.

In addition, Sembawang Primary School and Wellington Primary School are within 1km of the site, and will be a consideration for families with school-going children, and young families.

However, the size of the site may cause some developers to hold back, and Wong says: “There is a chance that some developers may not be keen on this plot in view of the small development size”.

Meanwhile, Eugene Lim, key executive officer of ERA Singapore says that the tender for this EC site will be closely watched, as it could serve as a benchmark for upcoming tenders, including Sembawang Drive and other potential sites in the 2H 2026 GLS programme.

New EC regulations might temper developer bids

“We think developers may not bid as aggressively in terms of pricing, taking into consideration the recent changes that led to tighter ownership conditions,” says Wong. She is referring to the 10-year minimum occupation period, changes in EC financing such as the removal of the Deferred Payment Scheme (DPS), and enhanced priority for first-time buyers.

Without the DPS, and with first-timers making up a larger share of initial new launch buyers, future ECs may attract a more price-sensitive crowd. “As a result, this should prompt developers to bid more cautiously, as higher land costs will make it harder to align EC prices with what buyers can realistically afford,” says Lim.

He also reckons that a wider bidding gap could possibly emerge as developers gauge the market before new EC pricing benchmarks take shape.

All in all, the latest changes means that developers will have to factor in assumptions on how the new measures could potentially shift EC demand dynamics in the future, especially since this will be the first EC project to launch under the latest changes.

For example, the allocation of 90% of the EC units to first-timers for a priority period of two years may slow initial take-up rate at the project, given that second-timers used to account for up to 30% of sales within the first month of project launch, says Wong.

Over 5,300 MOP flats in Sembawang, Yishun, and Woodlands

So far this year, newly launched EC projects have seen exceptionally strong sales take up rates. The year started with the launch of the 748-unit Coastal Cabana, which moved 66% of its total units during its initial sales weekend.

It was followed by the sales launch of Rivelle, a 572-unit EC in Tampines West that entered the market in March. It has been the best-selling new EC project so far this year, after it sold 92.5% of its total units by the end of its first days of sales.

There have been several EC projects in Canberra over the years, and the new site is opposite The Visionaire and The Brownstone. But both are relatively older developments, The Visionaire completed in 2018 and The Bownstone in 2017.

Specifically in Sembawang, market data compiled by ERA indicates that between 2025 and 2027, an estimated 5,361 flats in Sembawang, Yishun, and Woodlands will complete their Minimum Occupation Period (MOP).

This means that HDB upgraders living in these towns could provide the catchment of buyers for the future EC development, says Lim. But he also cautions that buyer demand could be diluted by the substantial pipeline of EC launches in the North, including upcoming projects and known sites on the 1H2026 Confirmed List.

There are two upcoming EC projects lined up in that region. A 420-unit development on Woodlands Drive 17 and a 265-unit project on Sembawang Road. Both are expected to lacuna for sale in 4Q2026.

Check out our article: The Last 5-Year MOP ECs In Singapore: Where They’ll Launch — And Why Prices Could Surprise Buyers.

The last EC site sold in the area was the plot at Sembawang Road, which was awarded to Oriental Pacific Holdings after they put in the winning bid of $198 million for the 204,161 sq ft plot in September 2025. The price translates to a land rate of around $692 psf ppr.

PropNex estimates that the new EC site could attract two to four bids, with a top bid land rate at around $620 psf ppr to $660 psf ppr.

ERA points to the site’s modest estimated yield of 185 units, which offers lower capital exposure and may open the door to small- to mid-sized developers looking for a foot into the EC market. The agency anticipates a turnout of two to three participants, with bids potentially coming in at around $650 to $700 psf ppr.