EastWave @ Canberra Review (MOP 2023): Quiet residential area between Sembawang and Yishun

EastWave @ Canberra is a HDB project launched during the May 2013 BTO sales exercise in Sembawang, a non-mature estate in the north of Singapore. The government started developing the Canberra area in earnest about ten years ago.

The north offers a less hectic suburban experience than the west of Singapore, and is generally cheaper than the east.

EastWave @ Canberra obtained its Temporary Occupation Permit (TOP) in 2018, which means that flats in this project have been on the resale market since 2023, when the first buyers fulfilled their five-year Minimum Occupation Period (MOP).

Let’s see if a resale HDB flat at this Sembawang BTO project is a good buy.

*Information from 99.co, PropertyGuru, and other property listing websites is accurate as of time of writing.

EastWave @ Canberra Price

At the May 2013 BTO launch, 4-room flats at EastWave @ Canberra were priced at $225,000 onwards, while 5-room flats were sold at $314,000 onwards.

Ever since the EastWave @ Canberra MOP was fulfilled, flats have been sold on the resale market for over double the price. A quick look on PropertyGuru shows that 4-room flats for sale at EastWave @ Canberra are currently being advertised for $690,000 to $780,000, while 5-room flats are priced at $795,000 to $850,000.

The high EastWave Canberra prices are in line with those of other flats located at Canberra Crescent. The current price for 4-room resale HDB flats on that street is $678,000 to $888,000.

Owners have profited from being located in Canberra, which has been intensively developed over the past decade. The opening of Canberra MRT station a five-minute walk away in 2019 has likely boosted property values as well.

While the first batch of owners managed to capitalise on the development of Canberra, the area has now reached a much later stage of development, and the government has shifted is attention to developing Sembawang North. Canberra remains largely residential, at quite a distance from the city centre. Thus, I would probably not buy a flat here purely as an investment

EastWave @ Canberra Site Plan

You can find the EastWave @ Canberra site plan here. The site plan shows where the residential blocks are laid out in the neighbourhood, as well as nearby amenities, which include a multi-storey car park, a children’s playground and fitness stations.

EastWave @ Canberra Location

EastWave @ Canberra is located at Canberra Crescent, a five-minute walk to Canberra MRT station. Canberra MRT station is on the North South Line, leading directly to Orchard and Raffles Place in the CBD. Canberra is quite a distance from the city centre, and to get to Raffles Place we are looking at at least 36 minutes spent on the MRT itself. But EastWave @ Canberra’s proximity to the nearest MRT station certainly helps to shorten travel time.

Canberra is located in between Sembawang proper and Yishun. The area immediately surrounding the flats is largely residential, but there are some amenities within easy walking distance, such as Canberra Plaza, a Sheng Siong Supermarket and Sembawang Community Club. Amenities in the Sembawang town centre, such as Sembawang Shopping Centre and Sun Plaza, are not too far away, at about a 20-minute walk away.

There are no primary schools within 1 km of EastWave @ Canberra, but there are nine within 2 km, including Ahmad Ibrahim Primary School and Wellington Primary School. Secondary schools located within less than half an hour’s walking distance include Ahmad Ibrahim Secondary School and Sembawang Secondary School.

I personally don’t find this location particularly attractive as there is a rather meagre selection of amenities, there are few schools within easy walking distance and the neighbourhood is quite far-flung, although Canberra MRT station being so nearby does mitigate this somewhat.

EastWave @ Canberra Floor Plan

You can find the EastWave Canberra floor plan here. EastWave @ Canberra consists only of 4-room and 5-room flats.

The 4-room flats have a floor area of 93 sqm, including air con ledge. They have a very classic layout that you are likely to be familiar with. The front door opens into an L-shaped living/dining area, and the three bedrooms are lined up in a row and accessible via a corridor.

The 5-room flats have a floor area of 113 sqm, including air con ledge. Again, this is a very typical layout, and quite similar to that of the 4-room flats, but with a more spacious living/dining area that can accommodate a home office or study if you wish.

EastWave @ Canberra Rent Price

EastWave Canberra rent prices are currently in the $3,450 to $3,500 range for 4-room flats. This would actually result in a good rental yield, even for those who bought their flats at current resale prices.

Such prices seem typical of the area right now. 4-room flats at Canberra Street are going for $3,000 to $3,700 per month. These flats are located a seven- to 13-minute walk from Canberra MRT station.

Potential tenants include local families waiting for their homes to be built, or young foreigners looking for an affordable place to rent. 

EastWave @ Canberra Review

EastWave @ Canberra resale flats are priced at a premium, but are they worth it? Personally, I feel that this BTO project’s strong point is its proximity to Canberra MRT station. But I’m not a big fan of the area, which is a bit far from the city centre and is not that amenity-rich. In addition, there are no primary schools within 1 km.

I would recommend EastWave @ Canberra to those looking for a slower pace of life a distance from the city centre, and who are able to work from home some of the time.

Due to EastWave @ Canberra’s high resale prices, which I feel the area doesn’t really justify, I personally wouldn’t count on this as an investment. That said, the rental yield is decent, so it might have the potential to be a decent rental home in time to come.