The Visionaire, an executive condominium (EC) nestled in District 27 along Canberra Drive, offers unparalleled convenience just steps away from Canberra MRT station. It is developed by the esteemed Qingjian Realty Pte Ltd, renowned for their excellence in numerous Singaporean projects. Obtaining its TOP in 2018, it is one of the youngest EC in Canberra that just attained its MOP status. Its prime location ensures effortless connectivity, with a mere 5-minute stroll to the MRT, while residents enjoy a wealth of nearby amenities including Canberra Plaza and Bukit Canberra.
If you are interested to find out more about The Visionaire, read on as we delve deeper into the project details, location, site, price, and MOAT analysis.
*This article was written in May 2024 and does not reflect data and market conditions beyond.
Project Details
Location Analysis
The Visionaire is located along Canberra Drive, just a leisure stroll away from Canberra MRT station on the North South Line (NSL). This strategic location ensures a seamless commute to various parts of Singapore, with just 3 stops on the NSL to Woodlands MRT which is also the interchange for the Thomson-East Coast Line (TEL), and 5 stops to Bishan MRT for Circle Line (CCL) connections. Additionally, nearby bus stops offer further convenience for travel across the city.
For shopping and dining, residents are spoiled for choice with the presence of Canberra Plaza, Sembawang Shopping Centre, and Sun Plaza, all within easy reach. These malls offer a diverse range of retail outlets, eateries, and entertainment options. Supermarkets like FairPrice Canberra Plaza, Sheng Shiong at 106 Canberra, and Giant at Sembawang Shopping Centre cater to residents’ daily needs. Furthermore, just one MRT stop away, Yishun hosts Northpoint City–the largest mall in the North, providing extensive shopping and dining experiences.
For leisure and wellness, Bukit Canberra is a haven for residents. Featuring the largest ActiveSG gym in Singapore, swimming complexes, indoor sports facilities, and a 44-stall hawker centre, it caters to various recreational pursuits. The recent addition of Sembawang Polyclinic ensures convenient access to quality healthcare services within the community.
The Visionaire’s location is perfect for families with school-aged children, as it provides easy access to various educational institutions within a 1km radius. Nearby schools such as Sembawang Primary School, Wellington Primary School, and Sembawang Secondary School offer quality education options. Additionally, parents can choose from kindergarten options like PCF Chong Pang or Sembawang, as well as Edelweiss Preschool, ensuring a convenient and comprehensive educational experience for their children.
Site Plan & Unit Distribution
The Visionaire occupies a rectangular and elongated plot, housing 13 residential blocks spread across 64 stacks. The development boasts meticulous planning, highlighted by a sprawling 250m landscaped deck inspired by the iconic New York Central Park. With buildings aligned parallel to each other, residents can enjoy three distinct facings: towards Brownstone, internal, and Sembawang road.
The facilities are thoughtfully organised into six zones: Arrival, Retreat, Chill Out, Socialise, Wellness, and Leisure, each serving a unique purpose for residents. Accessible via the HiLife app, these integrated amenities offer convenience and direct access to residents.
Featuring varying depth levels, the pool caters to residents of all ages. Highlights include a 50m Pebble Pool, dedicated kids pool, and water slides for youthful enjoyment. Lush landscaping surrounds the pool, creating a serene oasis amidst urban living.
The Visionaire stands out with its diverse range of function rooms, including a Game Room, Activity Room, Karaoke Room, Dance Studio, and Gymnasium, catering to different interests and social gatherings. Fitness enthusiasts can indulge in the fitness park and tennis courts within the estate.
Moreover, multiple function rooms are available for hosting gatherings, complemented by outdoor spaces such as the Gourmet Dining Pavilion, Garden Dining, and Outdoor Function Deck, offering residents ample opportunities for relaxation and entertainment.
The Visionaire offers 2-Bedroom to 4-Bedroom types spread across its 64 stacks, with units starting on varying levels across the stacks. An interesting aspect of The Visionaire is its location on sloped terrain. You’ll notice that the blocks nearest to Canberra Link, closer to the MRT, are taller, reaching up to levels 10, 11, and 12. The remaining blocks at the left end of the development will be a total of 9 levels high.
The largest unit available at The Visionaire, the 4 Bedroom CoSpace, represents a mere 3% of the overall unit count within the project. There are only two stacks with this configuration in the entire project, which can be found in Stack 04 of Blk 170 and Stack 53 of Blk 196. Positioned internally within the development, both of these stacks offer unique vistas enhanced by meticulously landscaped surroundings. The lush greenery and tranquil ambiance primarily grace the Retreat area, enriching the living experience for residents fortunate enough to occupy these units.
3-Bedroom and the 4-Bedroom types make up the majority of the unit offering, with 62% and 22% respectively. When looking across most executive condominiums in Singapore, developers typically construct larger units, which constitute a higher percentage of the overall unit types. This trend is largely influenced by the typical demographics of EC buyers, who are often either first-time homebuyers seeking their matrimonial home or families with young children transitioning from HDB flats. The emphasis on larger unit sizes is aimed at meeting the family size requirements of these homebuyers, providing more bedrooms and spacious living areas. This approach aligns with the intention of these buyers, who are primarily seeking residences for owner-occupation.
Price Analysis
Analysing the price trend of The Visionaire, we observe a consistent upward trajectory over the past few years. It is noteworthy that The Visionaire is an Executive Condominium (EC) project, which entails specific requirements that homeowners must fulfil before selling their units. In this instance, homeowners are required to meet the Minimum Occupation Period (MOP) of 5 years before listing their units for sale on the market. The MOP date for The Visionaire was in June 2023, coinciding with a notable surge in sales volume. However, it is worth mentioning that there were a few sales recorded before 2023, which may have been granted under special circumstances or exemptions to homeowners.
Examining the average price growth in The Visionaire, a healthy 37% increase in average PSF prices has been recorded since its launch. Zooming in on 2023, the year marking the Minimum Occupation Period (MOP) for the project, there was a modest 1.7% uptick in average PSF, rising from $1,319 to $1,342.
However, 2024 witnessed a dip in transaction volume, likely influenced by decreased demand from prospective homeowners seeking property purchases. In 2024, the private home resale market witnessed a decline in transactions, largely influenced by ongoing cooling measures and stringent lending conditions. According to reports from the Straits Times, the subdued activity observed in February was anticipated, as the month coincided with the Chinese New Year holidays, which traditionally lead to a slowdown in property transactions. Additionally, the typical trend of slower sales activity in the first months of the year further contributed to the muted market sentiment. These factors collectively contributed to a subdued resale market landscape, reflecting cautious buyer sentiment amidst regulatory measures and seasonal festivities.
When comparing The Visionaire to surrounding Executive Condominium projects within a 1km radius, notable developments include 1 Canberra (TOP 2015) and The Brownstone (TOP 2017). However, The Visionaire stands out as the newest TOP condominium in the vicinity.
Starting with 1 Canberra, this development comprises 665 units and holds the distinction of being one of the earlier Executive Condominiums in the area, attaining its Temporary Occupation Permit (TOP) in 2015. As a 9-years-old development, 1 Canberra has demonstrated impressive growth, boasting a 43% increase in average PSF since 2017 and currently transacting at an average PSF of $1,202.
Moving on to The Brownstone, situated adjacent to The Visionaire, this project features a total of 638 units and obtained its TOP in 2017. Notably, The Brownstone enjoys a prime location right beside Canberra MRT station, offering residents a sheltered walkway for convenient access. Despite being one year older than The Visionaire, The Brownstone has consistently maintained a higher average PSF since 2021, possibly attributed to its proximity to the MRT station.
Overall, The Brownstone has showcased notable growth, recording a commendable 65% increase, a figure comparable to that of The Visionaire. In 2023, when The Visionaire reached its Minimum Occupation Period (MOP) stage, the average transacted PSF closely paralleled that of The Brownstone, with $1,319 and $1,326 respectively. As of 2024, The Brownstone commands an average PSF of $1,365, while The Visionaire transacts at an average PSF of $1,342.
MOAT Analysis
The MOAT Analysis is a proprietary tool by PLB that presents a meticulous technique for estimating a property’s value, considering a wide array of influential factors. This strategy involves a comparative study of the property against others, grounded on ten key dimensions, to deliver an unbiased assessment of its attractiveness to the broader market in Singapore. To grasp a deeper understanding of our tool’s functionality, kindly refer to this article, which elucidates the MOAT Analysis in detail.
The following are the final MOAT scores of the developments we highlighted in the previous section: The Visionaire (70%), One Canberra (66%), Brownstone (70%). Being the newest EC in the vicinity, The Visionaire is very comparable with The Brownstone, let us explore the strengths of The Visionaire by zooming into the specific areas that it has performed well in.
The Visionaire stands out as a promising investment option, supported by its robust performance in key areas according to the MOAT Analysis. With the highest scores in Exit Audience and Volume Effect, the development demonstrates strong appeal to potential buyers. The presence of numerous exit audiences in the vicinity, including residents from nearby BTO developments in Canberra estate and landed property owners in Sembawang looking to downsize, contributes to a buoyant market demand. Canberra’s status as a burgeoning town with new BTO clusters reaching their 5-year mark serves as a significant driver, as sellers capitalise on the MOP effect for higher property appreciation. This trend is further fueled by owners seeking to leverage grants and subsidies received during their BTO purchase to upgrade to private properties like The Visionaire, cementing its position as an attractive choice in the market.
The high Volume Effect score of The Visionaire reflects a substantial level of transaction activity within the project, which plays a pivotal role in property valuation, seller confidence, and bank valuation, consequently driving prices towards their true value. With a total of 632 units, the development has witnessed a notable number of transactions, nearing 40 alone in 2024 based on past records. An illustrative example highlights the upward trend in prices: at the beginning of the year, transactions were recorded at around $1,200 per square foot (PSF), whereas recent transactions have surpassed $1,400 PSF. This healthy transaction activity contributes to overall price appreciation, exerting a gradual yet significant effect on property prices within the development.
Floor Plan Analysis
In this segment, we will highlight our top choice from each unit type available at Visionaire. Our aim is to furnish you with useful knowledge that will assist you in choosing the perfect unit tailored to your tastes.
2-Bedroom
In The Visionaire, there are primarily two types of 2-bedroom layouts: one spanning 721 sqft and the other 850 sqft. While both layouts share similar bedroom placements, their key distinction lies in the size of the AC ledge and the expanded living and dining area afforded by the latter.
The Type B layout predominates among the 2-bedroom configurations in The Visionaire, boasting an efficiently designed space where each area of the home is thoughtfully segregated. Upon entering the unit, residents are welcomed by an open kitchen concept, characterised by an L-shaped layout housing essential appliances such as the fridge, basin, induction cooker, and a discreetly concealed washing machine.
Further into the unit, a generously proportioned dining and living area awaits, offering ample space for a 2-bedroom unit. Adjacent to this area lies a spacious balcony, providing residents the opportunity to extend their living space outdoors and create an inviting alfresco dining environment.
Notably, both the master bedroom and common bedrooms are of considerable size, comfortably accommodating queen-sized beds and offering ample wardrobe space. The common bathroom is strategically positioned perpendicular to the master bathroom, discreetly tucked away at the side of the unit. Both bathrooms are equipped with windows, facilitating natural ventilation and effectively dispersing moisture following a hot shower.
3-Bedroom
For the 3-bedroom layouts, The Visionaire presents three distinctive options: Type C1, C2, and C2L. The differentiating factors between Type C1 and C2 configurations primarily revolve around the presence of an AC ledge and an enclosed kitchen, which is a notable feature of the Type C2 layout, spanning 872 sqft. Our preference leans towards the Type C2 design for several compelling reasons.
One standout feature of the Type C2 layout is the strategic positioning of the entrance, ensuring a degree of privacy by not directly exposing the living area to passers-by, guests, or delivery personnel. This layout also boasts an enclosed kitchen, catering to homeowners who prioritise home cooking and appreciate the ability to contain cooking aromas within the kitchen space. This not only maintains a pleasant atmosphere throughout the home but also offers convenience in meal preparation.
Furthermore, the seamless flow from the kitchen to the adjacent dining area enhances the overall functionality and aesthetic appeal of the layout. All three bedrooms are capable of accommodating queen-sized beds, addressing the contemporary homeowner’s need for spacious sleeping quarters. Although the third bedroom is slightly smaller than the second, it still comfortably accommodates a queen-sized bed.
The placement of the common bathroom at the centre of the two common bedrooms facilitates easy shared access, promoting convenience for occupants. Particularly for families purchasing for own-stay purposes, this layout configuration affords a level of privacy between parents and children, contributing to harmonious living arrangements.
Now, for the C2L layout, it stands as the largest 3-bedroom configuration available among the three floor plan options. While maintaining a similar overall size to the 872 sqft layout, the primary distinction lies in the inclusion of a loft space above the living area, adding an extra dimension to the living space and potentially offering additional functionality or aesthetic appeal to the home.
3-Bedroom + Study
In the category of 3-bedroom + study layouts, The Visionaire offers two distinct configurations: Type C3 and C4. Type C3 spans a total area of 958 sqft, equivalent to 89 sqm, marking it as the smallest layout option within this category. The primary point of differentiation between the two lies in the spatial arrangement and size.
Type C4, with its larger footprint, incorporates a balcony that extends into the kitchen area, distinguishing it from Type C3, where the main balcony is situated within the living area. Additionally, the positioning of the study area varies between the two layouts. In Type C3, the study area is discreetly tucked at the side of the unit, opposite the common bathroom. Conversely, Type C4 features a study area directly facing the open kitchen, offering a distinct spatial arrangement.
To optimise the functionality and comfort of Type C4, we recommend the installation of a sliding door in the kitchen area. This ensures that cooking aromas are contained within the kitchen space, preventing them from permeating into the study room. Alternatively, enclosing the kitchen area entirely presents another viable solution.
By implementing these adjustments, residents can enjoy a seamless living experience, characterised by enhanced privacy and practicality, regardless of the chosen layout within the 3-bedroom + study category.
3-Bedroom Premium
Within the category of 3-bedroom Premium units, which constitute a significant portion of the 3-bedroom offerings in The Visionaire, notable distinctions set them apart from their standard counterparts. These premium units feature an additional utility room, yard space, and WC, elevating their functionality and appeal.
This category comprises two primary layouts: Type C5 and C6. The C6 layout stands out for its larger size and includes the unique feature of two balconies, accessible from both the living area and the master bedroom. Despite these differences, the overall arrangement of bedrooms remains consistent with other 3-bedroom layouts within The Visionaire.
The utility room emerges as a standout feature, offering unparalleled versatility as a multifunctional space for household storage. This aspect holds particular significance for families with children, providing a dedicated area to keep various items neatly organised and out of sight. Furthermore, the inclusion of a yard space presents additional benefits, facilitating laundry activities without encroaching on balcony space.
The WC serves as another valuable addition, providing extra storage space for toilet essentials such as pails and buckets, as well as accommodating miscellaneous washing needs. Interestingly, some homeowners have repurposed this space for additional storage by removing the toilet bowl and wash basin, maximising available storage capacity.
3-Bedroom Cospace
The 3-bedroom Cospace units distinguish themselves within The Visionaire development through their notably larger size, constituting only about 7% of the total unit types, rendering them rare finds. Within this category, there are primarily two layout options: Type CS3a and CS3b. These layouts boast an additional study area and a larger storage room, enhancing their appeal to potential residents seeking ample living space and versatility.
However, it’s worth noting that despite these advantages, there is a notable absence of a yard space in both CS3a and CS3b layouts. A comparison between the two reveals that while the balcony size remains consistent, the larger floor plan of CS3b, spanning 1,152 sqft, results in a more spacious and squarish living area. In contrast, CS3a, with a size of 1,119 sqft, adopts a more rectangular layout.
From a functional perspective, the CS3b layout emerges as the preferred choice, offering a more spacious and versatile living area. This may explain the rarity of only 8 units of this type throughout the entire project. The demand for such expansive and well-designed living spaces further underscores the desirability of the CS3b layout among discerning homebuyers.
4-Bedroom
For the 4-bedroom layouts, The Visionaire offers two distinct options: Type D1, spanning 1,141 sqft, and Type D2, with a larger area at 1,313 sqft. These configurations collectively comprise 22% of the unit layout within the development, making them the most exclusive offerings, accounting for 30% of the total unit types available, specifically in the 4-bedroom category.
The primary divergence between the two layouts lies in the amenities and spatial arrangement. Type D2 boasts a longer balcony space, coupled with a squarish living area and the coveted inclusion of a walk-in wardrobe in the master bedroom. Additionally, Type D2 currently features an open-concept kitchen, with the possibility of enclosing this space for added privacy and functionality. On the other hand, Type D1 distinguishes itself with a dedicated yard space, providing residents with an area for various household tasks. Notably, Type D2 compensates for the absence of a yard with direct access to the balcony from the kitchen, offering convenience and potential for outdoor dining or relaxation. Furthermore, Type D2 incorporates a powder room, enhancing its appeal with an additional convenience feature compared to the simpler WC found in Type D1.
In essence, both layouts are meticulously designed to cater to the needs of families seeking a balance between expansive communal spaces and private retreats. The well-thought-out arrangement ensures that residents can enjoy ample shared living areas while also having the option to retreat into the privacy of their own rooms when desired.
4-Bedroom Cospace
Type CS4 stands as the sole layout option available for the 4-bedroom Cospace category, offering an expansive living space spanning 1,345 sqft, characterised by its notably squarish layout. Tailored to accommodate larger families or multi-generational living arrangements, this layout provides ample room for comfortable coexistence.
Upon entry, residents are greeted by a spacious living area, offering versatility with provisions for a dry kitchen setup. The elongated kitchen extends seamlessly into the yard area, incorporating a storage room and WC for added convenience. All bedrooms within this layout boast generous proportions, easily accommodating queen-size beds. Furthermore, a designated study space caters to the needs of remote work or home office setups, enhancing the functionality of the home.
The well-designed layout ensures clear delineation between the living room, kitchen, and dining area, creating distinct and defined spaces within the unit. Additionally, the inclusion of two balcony spaces floods the interior with ample natural light, contributing to a bright and inviting ambiance throughout the home.
Growth Potential
Relocation of Sembawang Shipyard
The relocation of Sembawang Shipyard holds promise for Canberra residents, offering potential benefits such as site redevelopment, improved living conditions, and repurposing of buildings to revitalise the area. Additionally, it may create new amenities and job opportunities, enhancing convenience and economic prospects for residents.
North Coast Innovation Centre
The Northern Agri-Tech and Food Corridor, part of the Woodlands Regional Centre, brings benefits to Canberra residents. It offers job opportunities, economic growth, and access to fresh produce from nearby farms. Additionally, Republic Polytechnic’s relevant diploma program provides educational opportunities in agri-tech and food innovation. Overall, the Corridor supports Canberra’s vision of sustainable living and community well-being, fostering a vibrant and interconnected neighbourhood.
North-South Corridor
The North-South Corridor offers Canberra residents improved transportation options and connectivity. With dedicated lanes for buses, cycling paths, and pedestrian walkways, it ensures smoother travel between the northern and southern regions of Singapore. Integrated with existing MRT lines and buses, it enhances accessibility to key destinations, promoting sustainable mobility and improving residents’ quality of life
Educational Plots in Canberra
In Canberra estate, where the majority of land plots are zoned for residential and educational purposes, there are currently no specific plans outlined for the educational plots. However, the presence of three educational plots within the estate indicates a commitment to providing convenient access to quality education for residents. This fosters a sense of community and promotes family-friendly living, as families can benefit from having schools within close proximity. Additionally, the availability of educational facilities can attract young professionals and families to the area, leading to economic growth and the development of amenities to support the growing population.
In Summary
Positioned amidst numerous upcoming developments in the area, The Visionaire stands to benefit from its proximity to new BTO projects nearing their 5-year mark or already MOP-ed. Additionally, Canberra has emerged as a sought-after location with the integration of amenities like Canberra Plaza, Canberra MRT, and Bukit Canberra, contributing to the area’s rejuvenation and popularity.
Furthermore, the area holds immense growth potential, with initiatives like the North-South Corridor enhancing connectivity and the North Coast Innovation Centre creating new economic opportunities for residents in the future.
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If you’re considering buying, selling, or renting a unit and are uncertain about its implications on your property journey and portfolio, please reach out to us here. We would be delighted to help with any market and financial assessments related to your property, or offer a second opinion.
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