The latest adjustments to the Executive Condominium (EC) scheme have handed a temporary advantage to developers who are due to roll out several new EC projects in the coming months.
Specifically, this refers to the developers who managed to secure the last five EC plots before the implementation of the latest changes on May 8 this year. These five projects will be subject to the previous five-year Minimum Occupation Period (MOP).
All ECs developed on government land sale (GLS) sites sold after May 8 will come with a 10-year MOP, the developments will subsequently be fully privatised after 15 years.
You can read our article outlining the latest EC changes here. We also wrote about how these changes impact the typical property progression journey of most Singaporeans in this article.
All in, the latest changes to the EC scheme have generated some concern among hopeful EC buyers this year, since some expect developers to capitalise on the situation by raising prices for this final batch of “five-year” ECs.
The projects that fall into this category are the upcoming EC launches at Senja Close, Woodlands Drive 17 (Plots 1 and 2), Sembawang Road, and Miltonia Close.
In this article, we’ll examine these sites, their land price, and the price of surrounding resale properties. This will provide a gauge of value for buyers when the new EC projects eventually launch.
Subsequently, as these ECs hit the market, we’ll revisit and update this article so that we can see how much more developers raised prices – if at all.
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1. Senja Close
This EC site on Senja Close is in District 23, and the plot is just off the Kranji Expressway (KJE). For more details about the site’s location, check out our earlier article here.
This site was awarded to City Developments Ltd (CDL) after it submitted the top bid of $252.9 million for the 109,354 sq ft site in August 2025. The price works out to a land rate of $771 psf per plot ratio (ppr). CDL has since announced that it plans to develop a 302-unit EC project there.
At the time, this was considered a fairly aggressive land bid by some market watchers, since it was located in a less residentially mature part of Bukit Panjang.
CDL has developed projects in this vicinity before, and were behind the nearby Blossom Residences. That 602-unit EC on Segar Road was launched for sale in 2011. The success of Blossom Residences likely supported CDL’s confidence in this location.
Here’s how the prices of surrounding properties look:
Senja Close
Average $PSF in 2025
| Project | 1-bedroom | 2-bedroom | 3-bedroom | 4-bedroom | 5-bedroom |
| BLOSSOM RESIDENCES (EC) | $1,314 | $1,238 | $1,283 | ||
| CHESTERVALE (EC) | $1,037 | ||||
| HILLION RESIDENCES | $1,771 | $1,876 | $1,865 | $1,954 | |
| MAYSPRINGS | $1,275 | $1,145 | |||
| THE LINEAR | $1,524 | $1,331 | |||
| THE MYST | $2,044 | $2,331 | $2,093 | $1,942 | $1,932.43 |
| THE TENNERY | 1344.625 | 1368 |
Average price in 2025
| Project | 1-bedroom | 2-bedroom | 3-bedroom | 4-bedroom | 5-bedroom |
| BLOSSOM RESIDENCES (EC) | $990,000 | $1,326,675 | $1,691,341 | ||
| CHESTERVALE (EC) | $1,418,889 | ||||
| HILLION RESIDENCES | $827,555 | $1,332,889 | $2,168,000 | $2,650,000 | |
| MAYSPRINGS | $1,089,600 | $1,548,172 | |||
| THE LINEAR | $1,230,000 | $1,922,539 | |||
| THE MYST | $1,342,000 | $1,628,556 | $2,283,958 | $2,947,300 | $3,265,857 |
| THE TENNERY | $826,287 | $1,187,200 |
While it may seem intuitive to benchmark our analysis against other nearby EC projects like Blossom Residences or Chestervale, these may not be good equivalents. Both belong to an older generation of ECs – completed in 2013 and 2000, respectively – when EC prices and design qualities were different compared to the projects we see today.
If we add to the fact that the Senja Close EC will also be the last to have a five-year MOP, there’s room for further complexities in this analysis.
In our view, buyers will likely be advised to look to newer private condos as alternative benchmarks. Some of the noteworthy projects in the area include The Myst on Upper Bukit Timah Road, where the average price of two-bedroom units is about $1.63 million, and around $2.28 million for three-bedders. This is another development by CDL.
Over at Hillion Residences, a 546-unit condo at Jelebu Road, average prices are already above $2.1 million for three-bedders and around $2.65 million for four-bedders. This development was completed in 2017.
Based on transaction data compiled by Stacked, although projects like The Linear or Maysprings may show lower prices on a $PSF basis, the larger unit sizes make the price quantum there higher.
For example, the average price of a three-bedroom unit at The Linear is close to $1.92 million. This is around the upper end of affordability for most HDB upgraders today, as most tend to struggle to finance a purchase of over $2 million.
If the Senja Close EC prices its three-bedders in the low-$2 million range, it’s possible that some price resistance among prospective buyers could emerge.
At that price point, many buyers will probably compare it against other developments like The Myst, or even older nearby condos. To some, it may make more sense to stretch their finances a bit and purchase a condo unit. That said, the nearby alternatives are not cheap either in terms of absolute resale prices.
If the average selling price at the new EC on Senja Close stays within the $1.6 million to $1.7 million range, the development stands a strong chance at being viewed as a good value project for buyers in this area.
The surrounding HDB estates at Bukit Panjang and Choa Chu Kang also offer a sizeable pool of upgraders. Many flats nearby have already reached their MOP and Senja Close may be a natural next step for some of these households.
2. Woodlands Drive 17 (Plots 1 and 2)
There are two new ECs lined up to launch along Woodlands Drive 17 in District 25. This location is within the Woodlands South area and is not far from Woodlands South MRT station on the Thomson-East Coast Line (TEL). For more details about the location, check out our earlier article here.
Unlike Senja Close, where the land bid was considered aggressive by some, the Woodlands Drive 17 plots broke previous land price records for EC development sites. The first site (Plot 1) was won by CDL after it submitted the winning bid of $360.9 million for the 271,328 sq ft plot in August 2025. The price translates to $782 psf ppr.
The second development site (Plot 2) was subsequently awarded to Sim Lian Group when it submitted the top bid of $484 million, or about $794 psf ppr, for this 290,409 sq ft site in January this year. This set a new land price record for an EC site.
The strong developer participation for both of these EC sites reflects the growing importance of Woodlands as a key regional centre. Here’s how surrounding prices currently look:
Woodlands Drive 17 (Plots 1 and 2)
Average $PSF in 2025
| Project | 1-bedroom | 2-bedroom | 3-bedroom | 4-bedroom | 5-bedroom |
| BELLEWOODS (EC) | $1,321 | $1,322 | $1,351 | ||
| CASABLANCA | $1,120 | $1,106 | |||
| FORESTVILLE (EC) | $1,317 | $1,174 | $1,221 | $1,222 | |
| LA CASA (EC) | $1,046 | $1,058 | $1,095 | ||
| NORWOOD GRAND | $2,064 | ||||
| PARC ROSEWOOD | $1,474 | $1,245 | $1,067 | ||
| ROSEWOOD | $1,060 | $1,074 | $896 | ||
| ROSEWOOD SUITES | $940 | $1,226 | $1,042 | $992 | |
| TWIN FOUNTAINS (EC) | $1,339 | $1,321 | $1,321 | ||
| WOODGROVE CONDOMINIUM | $999 | ||||
| WOODHAVEN | $1,366 | $1,330 | $1,340 |
Average price in 2025
| Project | 1-bedroom | 2-bedroom | 3-bedroom | 4-bedroom | 5-bedroom |
| BELLEWOODS (EC) | $1,037,500 | $1,392,727 | $1,673,907 | ||
| CASABLANCA | $1,036,333 | $1,304,611 | |||
| FORESTVILLE (EC) | $1,120,000 | $1,360,285 | $1,610,066 | $1,828,888 | |
| LA CASA (EC) | $974,167 | $1,218,571 | $1,378,800 | ||
| NORWOOD GRAND | $2,721,833 | ||||
| PARC ROSEWOOD | $667,631 | $906,188 | $1,271,667 | ||
| ROSEWOOD | $1,072,500 | $1,347,378 | $1,928,000 | ||
| ROSEWOOD SUITES | $870,000 | $805,000 | $1,330,400 | $1,880,000 | |
| TWIN FOUNTAINS (EC) | $1,110,000 | $1,447,167 | $1,677,889 | ||
| WOODGROVE CONDOMINIUM | $1,473,857 | ||||
| WOODHAVEN | $808,888 | $1,000,000 | $1,535,000 |
There are other ECs in this neighbourhood, such as Bellewoods, Forestville, La Casa, and Twin Fountains.
Based on transactions, most three-bedders at Bellewoods fetch for around $1.39 million, while some four-bedroom units often change hands for around $1.67 million. At Twin Fountains, the average price of a four-bedroom is already approaching $1.68 million. However, these ECs are from an earlier era, so buying demand will also come down to whether buyers accept the older facilities and layouts.
On the private residential side, the older surrounding condos tend to fetch a rather high price, so some buyers may not view them as viable alternatives. For example, four-bedroom units at Rosewood are already approaching average resale prices of $1.93 million, a strong price for a 99-year leasehold condo built in 2003.
That said, Woodlands may also have one of the most active catchments of HDB upgraders who would be keen to move into the EC segment. As we mentioned earlier, Woodlands is just beginning to hit its stride, with the impending launch of the Johor Bahru-Singapore Rapid Transit System (RTS) in January next year.
This is likely to result in more “sticky” upgraders, describing residents in the area who will be reluctant to move from a neighbourhood they know, which is poised for substantial transformation.
3. Sembawang Road
Meanwhile, the upcoming EC project at Sembawang Road in District 27 is near the Canberra and Sembawang areas. We cover more details about the location in this article here.
Compared to the other upcoming EC developments, the Sembawang Road site was relatively modest in terms of bid price. The site 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.
With this competitive land price, there is scope to offer the developer more flexibility in terms of the launch price, compared to the record breaking prices we saw at Woodlands site.
Here’s how surrounding prices currently look:
Sembawang Road
Average $PSF in 2025
| Project | 1-bedroom | 2-bedroom | 3-bedroom | 4-bedroom | 5-bedroom |
| 1 CANBERRA (EC) | $1,311 | $1,119 | |||
| CANBERRA RESIDENCES | $1,214 | $1,208 | $1,149 | ||
| EIGHT COURTYARDS | $1,677 | $1,317 | $1,327 | $1,328 | |
| PARC LIFE (EC) | $1,393 | $1,363 | $1,368 | ||
| PROVENCE RESIDENCE (EC) | $1,574 | ||||
| SELETARIS | $1,297 | $1,300 | $1,351 | ||
| SKYPARK RESIDENCES (EC) | $1,386 | $1,464 | $1,417 | ||
| THE BROWNSTONE (EC) | $1,485 | $1,415 | |||
| THE COMMODORE | $1,896 | $1,770 | $1,794 | $1,754 | $1,708 |
| THE NAUTICAL | $1,421 | $1,323 | $1,252 | $1,084 | |
| THE VISIONAIRE (EC) | $1,532 | $1,447 | $1,437 | ||
| THE WATERGARDENS AT CANBERRA | $1,726 | $1,715 | $1,773 | ||
| YISHUN EMERALD | $1,050 | $1,075 | $1,099 | ||
| YISHUN SAPPHIRE | $1,038 | $1,111 |
Average price in 2025
| Project | 1-bedroom | 2-bedroom | 3-bedroom | 4-bedroom | 5-bedroom |
| 1 CANBERRA (EC) | $1,337,948 | $2,180,000 | |||
| CANBERRA RESIDENCES | $1,143,750 | $1,515,000 | $2,325,000 | ||
| EIGHT COURTYARDS | $758,000 | $1,151,500 | $1,442,459 | $1,953,940 | |
| PARC LIFE (EC) | $1,061,555 | $1,415,647 | $1,738,000 | ||
| PROVENCE RESIDENCE (EC) | $1,423,500 | ||||
| SELETARIS | $1,480,000 | $1,855,000 | $2,227,500 | ||
| SKYPARK RESIDENCES (EC) | $1,630,983 | $1,980,589 | $2,290,625 | ||
| THE BROWNSTONE (EC) | $1,381,257 | $1,574,290 | |||
| THE COMMODORE | $877,667 | $1,275,065 | $1,786,667 | $2,212,667 | $2,850,000 |
| THE NAUTICAL | $712,000 | $1,039,000 | $1,319,615 | $1,966,250 | |
| THE VISIONAIRE (EC) | $1,104,916 | $1,439,168 | $1,706,065 | ||
| THE WATERGARDENS AT CANBERRA | $1,244,894 | $1,800,631 | $2,398,750 | ||
| YISHUN EMERALD | $1,040,000 | $1,288,296 | $1,525,417 | ||
| YISHUN SAPPHIRE | $1,232,667 | $1,417,127 |
An important factor to take note is that there are already many ECs to be found in Canberra. Some of the noteworthy ones include The Visionaire, The Brownstone, Parc Life, 1 Canberra, Provence Residence, and The Watergardens at Canberra.
The range of alternatives may actually be the biggest challenge for the upcoming EC here. Unlike other locations where buyers have few modern alternatives, Canberra and Sembawang already provide a large selection of relatively recent ECs. These also have the newer facilities, layouts, and still-young leases.
As such, buyers may have more viable alternatives, and possibly less incentive to pay higher prices or a new, uncompleted EC.
According to transaction records, three-bedders at The Brownstone still average around $1.38 million. Meanwhile, similar units at The Visionaire average around $1.44 million. Even newer projects like The Watergardens at Canberra currently command on average $1.8 million for three-bedders there, and this is within the budget range of most HDB upgraders today.
If we consider the list of condos in this vicinity, The Commodore sees most of its three-bedroom units change hands at an average of $1.79 million, while four-bedders fetch more than $2.2 million. Likewise, older condos such as Seletaris still command high quantums because of their larger unit sizes.
One notable factor is that between 2026 and 2029, around 3,500 HDB flats in Yishun and Sembawang are expected to reach their MOP. This means the upcoming EC could launch right as a sizeable wave of potential upgraders enters the market. There’s a strong chance that these buyers will likely view this upcoming project as a last chance for a so-called “five-year EC”.
4. Miltonia Close
Finally, the EC site at Miltonia Close is located in District 27, and it is within the Yishun area near Lower Seletar Reservoir. There are more locational details in our earlier article here.
In our view, Miltonia Close may be one of the most affordable EC projects in this list of “five-year ECs”. The site was awarded to Hoi Hup Realty when it submitted the winning bid of $340.85 million for this 166,315 sq ft site in April this year. This works out to a land rate of $732 psf ppr.
But this site isn’t without its challenges. While it offers proximity to a lot of greenery and outdoor space, it lacks a convenient MRT connectivity, and the Seletar area in general is still developing with relatively fewer amenities.
However, we have seen that even ECs in developing areas can have a strong draw. For example, the near-complete sellout of Tengah Garden Residences, in the emerging Tengah town, would have done a lot to buoy the developer’s confidence now.
Here’s how surrounding prices currently look:
Miltonia Close
Average $PSF in 2025
| Project | 1-bedroom | 2-bedroom | 3-bedroom | 4-bedroom | 5-bedroom |
| LILYDALE (EC) | $949 | ||||
| SIGNATURE AT YISHUN (EC) | $1,297 | $1,264 | $1,314 | ||
| SKIES MILTONIA | $1,463 | $1,284 | $1,193 | $1,280 | |
| THE CANOPY (EC) | $1,163 | $1,142 | $1,228 | ||
| THE CRITERION (EC) | $1,401 | $1,328 | $1,334 | $1,296 | |
| THE MILTONIA RESIDENCES | $1,387 | $1,195 | $1,182 | ||
| THE WISTERIA | $1,528 | $1,392 | $1,357 | $1,435 |
Average price in 2025
| Project | 1-bedroom | 2-bedroom | 3-bedroom | 4-bedroom | 5-bedroom |
| LILYDALE (EC) | $1,150,875 | ||||
| SIGNATURE AT YISHUN (EC) | $1,002,545 | $1,348,568 | $1,556,099 | ||
| SKIES MILTONIA | $708,667 | $933,900 | $1,535,626 | $1,680,888 | |
| THE CANOPY (EC) | $1,155,778 | $1,379,077 | $1,731,111 | ||
| THE CRITERION (EC) | $980,000 | $1,303,485 | $1,567,500 | $2,120,000 | |
| THE MILTONIA RESIDENCES | $768,000 | $1,036,980 | $1,562,857 | ||
| THE WISTERIA | $793,472 | $948,978 | $1,272,900 | $1,683,000 |
Nearby ECs such as Signature at Yishun, The Criterion, and Lilydale continue to see their units transact at prices that are relatively close to the overall affordability of most HDB upgraders. For example, three-bedders at Signature at Yishun have an average price of around $1.35 million, while similar units at The Criterion fetch around $1.57 million.
Among the condos here, projects such as Skies Miltonia, The Miltonia Residences, and The Wisteria also remain relatively moderate in terms of their overall price quantum compared to many newer OCR projects elsewhere in Singapore.
Based on the data compiled by Stacked, surrounding private home prices seem to support the notion that this will be one of the more affordable ECs to hit the market in the next few months. We also think that the surrounding resale market feels relatively anchored to upgrader’s affordability.
That said, recent launches such as Tengah Garden Residences show that buyers are open to new and emerging locations, and affordability may trump near- to mid-term inconveniences. Combined with being among the final batch of five-year ECs, this could still push the initial sale price of this EC higher.
It will be interesting to see how much of a price premium developers may set for this final batch of ‘five-year ECs’.
While the latest changes to the scheme clearly provide a temporary advantage for these projects, there are still practical affordability limits, not least due to the $16,000 income ceiling coupled with the 30% Mortgage Servicing Ratio (MSR).
As these projects progressively launch over the coming months, we’ll revisit this article to track how pricing eventually turned out, so follow us on Stacked for those updates.
At Stacked, we like to look beyond the headlines and surface-level numbers, and focus on how things play out in the real world.
If you’d like to discuss how this applies to your own circumstances, you can reach out for a one-to-one consultation here.
And if you simply have a question or want to share a thought, feel free to write to us at stories@stackedhomes.com — we read every message.
Frequently asked questions
What is the land bid price for the Senja Close EC site?
Which developer won the bid for the Woodlands Drive 17 Plot 1 site?
What is the land price for the Sembawang Road EC site?
Which developer was awarded the Miltonia Close EC site and what was the bid price?
What are some nearby private condo prices that could serve as benchmarks for the Senja Close EC?
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