The Canopy is a 406-unit Executive Condominium (EC) developed by MCC Land and completed in 2013 under a 99-year lease commencing 2010. Situated along Yishun Avenue 11 in District 27, it occupies a quiet residential enclave flanked by low-rise landed homes and mature green corridors that give the estate an uncommonly spacious character for OCR Singapore. Because it crossed the five-year Minimum Occupation Period (MOP) in 2018 and subsequently cleared the ten-year privatisation threshold around 2023–2024, The Canopy now trades as a fully privatised condominium with no EC-specific resale restrictions: any buyer—Singapore Citizen, Permanent Resident, or foreigner—may purchase a resale unit on the open market, and rental to non-occupants is fully unrestricted. That legal milestone meaningfully expands the buyer pool and has been one of the structural tailwinds behind the development’s recent price trajectory. Over the twelve months to mid-2025, units changed hands in a range of S$1,069–S$1,228 per square foot, averaging approximately S$1,153 psf, while the six-month average edged higher still to roughly S$1,166 psf—a clear sign of sustained demand even as broader OCR volumes moderated. With 106 recorded transactions on file and active resale listings across three- and four-bedroom configurations, The Canopy occupies a well-defined niche: post-MOP EC value at a price point that remains materially below comparable private condominiums in the same district.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
District 27 (Yishun–Sembawang) has quietly become one of OCR Singapore’s more compelling value corridors. The north fringe of the North South Line anchors the area with Yishun MRT (1.62 km from The Canopy) and Khatib MRT (1.85 km), while the addition of Canberra MRT in 2019 and the integrated Bukit Canberra hub have meaningfully upgraded amenity density across the sub-region. According to Square Foot Research, four-bedroom units in District 27 recorded a 57.5 per cent price appreciation over the broad analytical window, and the district’s PSF entry point of S$1,100–S$1,350 continues to attract HDB upgraders and young families priced out of Core Central and Rest of Central Region developments. Across OCR as a whole, resale condo prices rose 4.6 per cent year-on-year to March 2026—outpacing the CCR—reflecting sustained demand from the large owner-occupier and upgrader segments that characterise suburban buying. The Canopy slots directly into this narrative: a fully privatised EC with a sub-S$1,300-psf ceiling that compares favourably with newer OCR launches, yet carrying the design density, facility set, and locational characteristics that the upgrader cohort values. The development’s eight-block, low-rise massing across a 99-year site also affords individual blocks decent separation and greenery buffers that higher-density projects seldom achieve. Retail coverage is respectable: Wisteria Mall sits 1.03 km away, Junction 9 at 1.27 km, and Northpoint City—one of the North’s largest integrated malls—at 1.45 km. Daily-needs groceries are covered by Sheng Siong outlets within the immediate neighbourhood. For families, the school belt is particularly strong: North View Primary (0.45 km) and Huamin Primary (0.56 km) sit well within the 1-km priority registration band, a tangible advantage in Singapore’s competitive primary school enrolment landscape.
We track 105 sales and 110 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the THE CANOPY dashboard.
- Average sale price: $1,126,476 across 105 transactions
- Estimated gross rental yield: 4.1%
- District 27 PSF ranking: Value tier (top 79%)
- 99 yrs lease commencing from 2010 · OCR · D27 · 406 units
About THE CANOPY
THE CANOPY is a 99 yrs lease commencing from 2010 condominium, located at YISHUN AVENUE 11 in District 27 (Sembawang, Yishun) (Outside Central Region), developed by MCC LAND (SINGAPORE) PTE LTD, comprising 406 residential units, completed in 2013.
With approximately 83 years remaining on its 99-year lease, the property qualifies for full bank financing and CPF usage.
Unit Mix Distribution
Transaction data breakdown by bedroom type at THE CANOPY:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 20 | $1,092 psf | $954,344 |
| 3 BR | 81 | $1,018 psf | $1,154,284 |
| 4 BR | 3 | $976 psf | $1,365,370 |
| 5+ BR | 1 | $729 psf | $1,600,000 |
Sales Market Overview
THE CANOPY has recorded 105 sale transactions with an average transaction price of $1,126,476, ranging from $768,000 to $1,731,111.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 21 | $851 psf | $1,005,619 | — |
| 2022 | 18 | $922 psf | $1,026,407 | ↑ 8.3% |
| 2023 | 14 | $1,033 psf | $1,038,571 | ↑ 12.0% |
| 2024 | 26 | $1,116 psf | $1,146,830 | ↑ 8.0% |
| 2025 | 23 | $1,154 psf | $1,307,005 | ↑ 3.5% |
| 2026 | 3 | $1,166 psf | $1,422,667 | ↑ 1.1% |
THE CANOPY ranks in the top 79% of condos in District 27 by average PSF.
Compared to the OCR average of $1,550 psf, THE CANOPY trades 33.6% below the segment benchmark.
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Rental Market Overview
THE CANOPY has recorded 110 rental transactions with monthly rents averaging $3,818/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 2 BR | 59 | $3,400/mo | $2,100/mo | $4,800/mo |
| 3 BR | 43 | $4,118/mo | $2,600/mo | $5,500/mo |
| 4 BR | 8 | $5,288/mo | $4,200/mo | $6,300/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 21 | $2,748/mo |
| 2022 | 15 | $3,443/mo |
| 2023 | 21 | $4,251/mo |
| 2024 | 22 | $4,290/mo |
| 2025 | 29 | $4,072/mo |
| 2026 | 2 | $4,425/mo |
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Investment Analysis
Based on average rents and sale prices, THE CANOPY delivers an estimated gross rental yield of 4.1%. This places it among the higher-yielding condos in Singapore.
Competing Condos in District 27
Side-by-side comparison against the most actively traded condos in District 27 (Sembawang, Yishun):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| NORTH GAIA | 99 yrs lease commencing from 2021 | 616 | $1,312 psf | 615 |
| THE WATERGARDENS AT CANBERRA | 99 yrs lease commencing from 2020 | 448 | $1,491 psf | 518 |
| PROVENCE RESIDENCE | 99 yrs lease commencing from 2020 | 413 | $1,182 psf | 413 |
| CANBERRA CRESCENT RESIDENCES | 99 yrs lease commencing from 2024 | 376 | $1,989 psf | 330 |
| THE VISIONAIRE | 99 yrs lease commencing from 2015 | 632 | $1,366 psf | 281 |
Location Map
Map shows THE CANOPY (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- THE CANOPY
- Yishun Secondary School
- Yishun Primary School
- Wellington Primary School
Nearby Schools
There are 8 schools within 2 km of THE CANOPY, including 1 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Yishun Secondary School | Secondary | 980m |
| Yishun Primary School | Primary | 1.4 km |
| Wellington Primary School | Primary | 1.4 km |
| XCL World Academy | International | 1.4 km |
| Yishun Innova Junior College | Jc | 1.4 km |
| Yishun Town Secondary School | Secondary | 1.4 km |
| Chung Cheng High School (Yishun) | Secondary | 1.8 km |
| North View Primary School | Primary | 1.8 km |
The Canopy’s most durable strength is its post-privatisation EC premium. Buyers acquire what is legally a private condominium at EC-level pricing—the structural discount relative to comparable private-launch condos in D27 can run 10–20 per cent on a per-square-foot basis. This spread has historically compressed as EC cohorts privatise and the supply of “affordable private” units in a given area dwindles, making entry before full price convergence the rational play for yield- and capital-gain oriented buyers alike. Second, the school catchment is genuinely exceptional by OCR standards. Two primary schools fall within the 1-km priority band (North View Primary at 0.45 km and Huamin Primary at 0.56 km), and GEMS World Academy—an international school—sits 0.43 km away, broadening appeal to the expatriate-family rental segment that prizes walkable school access. This dual domestic-and-expat school proximity underpins rental demand across both the owner-occupier and investment buyer segments. Third, facility quality and estate upkeep draw consistent positive mentions from residents: the gymnasium, 50-metre swimming pool, jacuzzi, jogging track, badminton hall, and clubhouse are well-maintained for a development now in its second decade, and 24-hour security and a gated perimeter contribute to the estate’s family-friendly reputation. Fourth, the pricing entry point at approximately S$1,153 psf average stands below most new OCR launches, giving buyers who use a mortgage calculator the ability to model manageable monthly commitments for typical three-bedroom units in the S$1.1–S$1.35 million resale price band. Fifth, the lease quantum: with a 99-year lease from 2010, approximately 83–84 years of remaining tenure as of 2026 keeps The Canopy well clear of the financing haircuts that CPF and bank lenders apply to sub-60-year leases, preserving full CPF utilisation and standard LTV access for the foreseeable future.
Buyers should weigh several structural considerations before committing. MRT walkability is a genuine gap. Both Yishun MRT (1.62 km) and Khatib MRT (1.85 km) fall outside a comfortable walking radius, making car ownership or feeder-bus dependency a practical reality for daily commuters. This constraint limits the development’s appeal relative to better-connected OCR condos and may weigh on capital appreciation velocity compared to MRT-adjacent peers. Lease decay economics are worth modelling explicitly: at roughly 83 years of remaining tenure, The Canopy sits in a comfortable zone today, but buyers with a 10–15-year investment horizon should run a lease decay calculator to understand how CPF usage rules and bank LTV thresholds evolve as the lease approaches sub-70 years in the late 2030s. EC-cohort supply concentration is a subtler risk: several other privatised ECs exist in the Yishun–Sembawang corridor (Skypark Residences, The Shaughnessy, La Casa), creating concentrated resale supply that can cap price upside during soft market periods when multiple EC cohorts list simultaneously. Facility ageing is a natural concern for a development built in 2013; while resident reviews are broadly positive on maintenance, prospective buyers should review the most recent Annual General Meeting minutes for sinking-fund adequacy and any deferred capital expenditure on pool, gym, or M&E systems. Finally, District 27’s distance from the CBD—roughly 20–25 km—means the rental pool skews toward HDB upgraders and local families rather than the CBD professional segment, which caps achievable rental yields and may slow the absorption of units during rental market corrections.
[
{
"persona": "HDB Upgrader (First Private Purchase)",
"fit_color": "green",
"reason": "The Canopy's sub-S$1,300-psf resale pricing and full privatisation status make it one of the most accessible private-condo entry points in D27. Buyers stepping up from a five-room or executive HDB flat will find familiar suburban living standards with private-condo facilities and unrestricted CPF usage given ample remaining lease. Use a stamp duty calculator to model ABSD exposure if an HDB flat is still held at the point of purchase."
},
{
"persona": "Young Family (School-Age Children)",
"fit_color": "green",
"reason": "Two primary schools within 1 km (North View Primary, Huamin Primary) plus GEMS World Academy nearby make The Canopy a rare dual-track school catchment play in the north. The gated, low-rise estate with extensive greenery and a full family-facility set (pool, jogging track, badminton hall) suits families who prioritise residential quality and school-run practicality over CBD proximity."
},
{
"persona": "Long-Term Buy-to-Hold Investor",
"fit_color": "green",
"reason": "Post-privatisation EC value compression, a strong school catchment driving rental demand, and D27’s 57% four-bedroom appreciation trend over the medium term collectively underpin a hold thesis. Gross yields are moderate given OCR rental norms, but capital appreciation potential remains credible for a 7-10-year horizon. Model the full cost including BSD and ABSD via a total cost calculator before committing."
},
{
"persona": "Car-Lite Commuter",
"fit_color": "red",
"reason": "Both Yishun and Khatib MRT stations exceed 1.6 km from the development. Without a car or reliable feeder bus connectivity, daily commuting to the CBD is time-consuming. Car-lite buyers prioritising MRT walkability should shortlist developments closer to Yishun or Khatib stations or consider other D27 options."
},
{
"persona": "Short-Term Investor (2-4 Year Flip)",
"fit_color": "yellow",
"reason": "The Canopy is fully privatised, so no MOP constraint exists on resale timing. However, EC-cohort supply concentration in the Yishun corridor and measured OCR price appreciation rates mean short-term capital gains may be modest after accounting for BSD, agent commissions, and potential ABSD on a second property. The risk-reward calculus is more favourable for a 7-year-plus hold than a quick flip."
},
{
"persona": "Expatriate Renter or Foreign Buyer",
"fit_color": "yellow",
"reason": "Full privatisation removes all EC ownership restrictions, so foreign buyers may purchase on the resale market (subject to 60% ABSD under current rules). The GEMS World Academy proximity creates genuine rental demand from the expat-family segment. However, the MRT distance and D27’s suburban character may deter expats accustomed to CCR or central RCR locations, and the 60% ABSD makes direct ownership economics challenging without extensive modelling."
}
]
The Canopy represents a mature, fully privatised EC in a district that has benefited from deliberate infrastructure investment without yet fully converging to private-condo pricing—the defining characteristic of the EC value proposition in its late lifecycle. At roughly S$1,153 psf average resale, the development is meaningfully cheaper than new OCR launches while offering a facility set, school catchment, and estate quality that have held up well over its first decade. The central qualification for every prospective buyer is transport: if you own a car or are comfortable with feeder-bus reliance, the MRT distance is a manageable trade-off for the pricing differential and residential quality. If you are car-lite and work in the CBD, the calculus tilts negatively. For HDB upgraders, young families, and patient buy-to-hold investors the value case is clear; for short-term flippers or car-free professionals it is not. Use a affordability calculator to establish your comfortable quantum, cross-check against a stamp duty calculator for your ABSD profile, and review the District 27 analytics page for the latest transactional comparables before engaging an agent. The Canopy is not a development that demands urgency, but its post-privatisation window—when EC-to-private price convergence is still incomplete—is a finite opportunity that narrows with each passing year.
FAQ
What is the average price for THE CANOPY?
What is the rental yield for THE CANOPY?
Is THE CANOPY freehold or leasehold?
Has The Canopy EC been fully privatised, and what does that mean for buyers?
Yes. The Canopy received its TOP in 2013, completed its five-year MOP around 2018, and crossed the ten-year privatisation threshold approximately in 2023–2024. Full privatisation means that all EC-specific ownership restrictions have been lifted: Singapore Citizens, Permanent Residents, and foreigners may all purchase resale units on the open market, and owners may rent out their units without restriction. The development is now treated identically to a standard private leasehold condominium for all practical purposes, including CPF usage, mortgage financing, and ABSD calculation.
How far is The Canopy from the nearest MRT station?
Yishun MRT station on the North South Line is approximately 1.62 km from the development, and Khatib MRT is approximately 1.85 km away. Neither station is within comfortable walking distance. Residents typically rely on feeder buses (several routes serve Yishun Avenue 11) or private vehicles. The bus journey to Yishun MRT takes around 5–8 minutes. Prospective buyers who prioritise MRT walkability should factor this into their decision, as it is the development’s most cited practical constraint.
Which primary schools are within 1 km of The Canopy for priority registration?
North View Primary School (approximately 0.45 km) and Huamin Primary School (approximately 0.56 km) both fall within the 1-km radius that determines Phase 2B priority registration in Singapore’s Primary 1 balloting exercise. Northland Primary School at approximately 0.9 km also sits within the priority band. Additionally, GEMS World Academy (an international school) is 0.43 km away, which is relevant for families with expatriate-track educational preferences. This school proximity is one of The Canopy’s most tangible and enduring demand drivers.
What facilities does The Canopy offer?
The development provides a full residential facility set including a swimming pool, jacuzzi, gymnasium, jogging track, badminton hall, clubhouse, and lounge area. The eight-block estate is gated with 24-hour security. Resident reviews consistently highlight the quality of maintenance and the friendliness of security personnel. For a 10-year-old development, the facilities are described as being in good condition, though prospective buyers should review the latest management corporation strata title (MCST) financial statements and AGM minutes to assess sinking-fund health and any upcoming capital expenditure.
What are the nearby shopping and dining options?
Wisteria Mall is the closest retail node at approximately 1.03 km, offering F&B, supermarket, and services. Junction 9 (1.27 km) adds further dining and retail variety, while Northpoint City—the north’s largest integrated mall with over 500 stores, a rooftop community garden, and a Yishun MRT interchange—is 1.45 km away. GV Yishun cinema is 1.49 km distant. Daily grocery needs are served by Sheng Siong outlets within the immediate neighbourhood. The amenity density, while not inner-city, is adequate for suburban family living and comparable to other established OCR estates.
Is The Canopy a good investment in 2026?
The investment case rests on three pillars: post-privatisation EC pricing (still below comparable private condos in D27), a durable rental demand base anchored by two in-1km primary schools and an international school, and OCR price momentum (4.6% year-on-year as of March 2026). District 27 four-bedroom units have recorded 57.5% appreciation over the medium term, outperforming many OCR districts. The primary risk to the investment thesis is the MRT distance, which caps the rental pool and may slow appreciation relative to transit-adjacent peers. Buyers should use a ROI calculator to model net yield after mortgage, MCST fees, and vacancy, and consult a licensed financial adviser before committing.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 105 transactions analysed
- Rental data: 110 lease records analysed
- Gross yield = (avg monthly rent × 12) / avg sale price
Median values used to minimise outlier impact. PSF = price per square foot.
View Live Data for THE CANOPY
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.