The Canopy
Overview & Key Facts
The Canopy is a 406-unit Executive Condominium sitting on a 15,074 sqm site along Yishun Avenue 11 in District 27. Developed by MCC Land (Singapore) Pte Ltd and designed by Surbana International Consultants, it was completed in 2014 across eight blocks standing 12 storeys each. On a 99-year lease commencing June 2010, it has approximately 83 years remaining — a figure that will cross the psychologically important 75-year CPF threshold in roughly eight years.
MCC Land is a subsidiary of China’s Metallurgical Corporation of China, one of the largest construction and engineering groups globally. In Singapore, MCC Land has built a portfolio of mid-market residential projects including The Poiz Residences, The Alps Residences, and Canopy EC — all positioned for mass-market appeal with practical layouts and competitive pricing. The Canopy was one of MCC Land’s earlier Singapore projects, and the build quality reflects a developer still establishing its local reputation at the time: functional and solid, if not luxurious.
The Canopy reached its 5-year Minimum Occupation Period (MOP) around 2019, and became fully privatised in 2024 — meaning units can now be sold to any buyer including foreigners, with no remaining HDB restrictions. This full privatisation is a meaningful milestone: it unlocks the widest possible buyer pool and removes the EC-specific resale constraints that previously limited exit options. With a buyer profile that is 90% Singaporean, 9% PR, and under 1% foreign, The Canopy is very much a heartland upgrader development that has now earned its stripes as a fully private condominium.
Location & Connectivity
Let’s address the elephant in the room: The Canopy is not MRT-convenient. Yishun MRT (NS13) is approximately 1.6 km away, translating to roughly 18–20 minutes on foot. Khatib MRT (NS14) is even further at about 1.85 km. Canberra MRT (NS12) sits at a similar distance of around 1.4 km. None of these is a comfortable daily walk in Singapore’s heat. Bus stops are located right outside the complex — buses 117 and 806 stop nearby — making the bus connection practical if not elegant. For MRT-dependent households, this is the single biggest trade-off, and it should be weighed honestly against The Canopy’s other strengths.
For drivers, the picture is considerably better. The SLE and CTE are easily accessible via Mandai Avenue, placing the CBD roughly 25–30 minutes away during off-peak hours. Orchard Road is about 20 minutes via the CTE. The development sits in a quieter pocket of Yishun, separated from the busier town centre, which appeals to residents who drive and value a peaceful setting over train proximity.
Daily amenities are well covered. Wisteria Mall is within walking distance, and Junction Nine — a food court, supermarket, and retail podium — is a short bus ride or drive away. Northpoint City, Yishun’s main integrated shopping and transport hub, sits beside Yishun MRT with over 400 shops and a public library. Khoo Teck Puat Hospital is nearby for healthcare. For schools, North View Primary School is just 410 metres away, Huamin Primary 580 metres, and Northland Primary under 900 metres — making this one of the better-served developments in the north for families with young children.
Schools & Education
| School | Type | Distance |
|---|---|---|
| Yishun Secondary School | secondary | Within 1 km |
| 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 |
Facilities
For a 406-unit EC, The Canopy provides a practical if modest facilities roster. The centrepiece is a swimming pool flanked by a jacuzzi, complemented by a gymnasium, badminton hall, jogging track, clubhouse with function room, and a lounge area. The compound is gated with 24-hour security and CCTV surveillance. Landscaping throughout the grounds is well-maintained — a point that residents frequently highlight — with mature trees and greenery giving the development a surprisingly lush feel for its age.
“It’s like living in a resort with convenience away from busy stressful Singapore. Amazing greenery within the estate.”
— Resident review via PropertyGuru
Compared to newer ECs and private condos that pack in water features, sky gardens, rooftop decks, and function pavilions, The Canopy’s facilities list is lean. There is no tennis court, no dedicated children’s water play area, and no BBQ pavilion — amenities that many newer developments in the $1,100+ PSF range include as standard. What the development does offer is kept in good condition thanks to responsive estate management, which multiple residents single out for praise. The badminton hall is an unusual and welcome inclusion that many larger condos lack, and the overall grounds maintenance punches above what you’d expect from a decade-old EC.
Unit Sizes & Layout
The Canopy offers a generous spread of unit types: 2-bedroom (872–1,001 sqft), 3-bedroom (1,023–1,313 sqft), and 4-bedroom (1,292–1,410 sqft), with penthouse variants at the upper end. With 47 distinct floor plan configurations across 406 units, there is considerable variety in layout and orientation. By today’s standards, these unit sizes are notably spacious — a 1,023 sqft 3-bedroom here offers 20–30% more usable area than the 750–850 sqft 3-bedrooms typical of new launches, and even the smallest 2-bedroom at 872 sqft is larger than many current 3-bedroom units.
The eight blocks are arranged across the site to maximise cross-ventilation and natural light, with most units enjoying either park-facing or open corridor views. Higher-floor units in the blocks oriented toward the surrounding low-rise HDB estate benefit from unblocked sightlines that are unlikely to be affected by future development in the immediate vicinity. The 4-bedroom units and penthouses occupy premium positions and offer the most generous layouts, with separate living and dining areas that work well for larger families.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 20 | $1,092 | $954,344 |
| 3 BR | 81 | $1,018 | $1,154,284 |
| 4 BR | 3 | $976 | $1,365,370 |
| 5 BR | 1 | $729 | $1,600,000 |
Pricing & Market Position
Based on 105 recorded transactions, sale prices range from $768,000 to $1,731,111, averaging $1,126,476 (~$1,153 psf).
Rents range from $2,100 to $6,300 per month across 110 rental transactions. Current rental yield sits at approximately 4.2%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 37% (from $851 to $1,166 psf).
Neighbourhood Comparison
The most natural comparison is with North Gaia, the newer EC nearby at $1,312 PSF. North Gaia offers a fresher lease (99 years from 2021), newer fittings, and more contemporary facilities, but its EC restrictions remain in force — including the 5-year MOP and 10-year foreign buyer restriction. The Canopy’s full privatisation since 2024 means unrestricted resale to any buyer, a tangible advantage for sellers who want maximum exit flexibility. However, North Gaia’s 38-year lease advantage will increasingly matter to CPF-conscious buyers as both developments age.
The Watergardens at Canberra ($1,487 PSF) is the premium alternative in the district, offering better MRT proximity to Canberra station and resort-style facilities, but at a 30% PSF premium that translates to $150,000–200,000 more in absolute terms. Provence Residence ($1,182 PSF) sits closest in price but in the more isolated Canberra corridor. For investors comparing yields, The Canopy’s 4.16% gross yield is competitive — driven by its spacious units commanding solid rents while entry quantum remains below $1.2M for most 3-bedrooms. The investment calculus favours a 5–7 year hold for rental income, though buyers should factor in the approaching 75-year lease threshold when modelling longer exit scenarios.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE CANOPY | 99 yrs lease commencing from 2010 | 2013 | 406 | $1,153 |
| NORTH GAIA | 99 yrs lease commencing from 2021 | 2022 | 616 | $1,312 |
| THE WATERGARDENS AT CANBERRA | 99 yrs lease commencing from 2020 | 2021 | 448 | $1,491 |
| PROVENCE RESIDENCE | 99 yrs lease commencing from 2020 | 2021 | 413 | $1,182 |
| CANBERRA CRESCENT RESIDENCES | 99 yrs lease commencing from 2024 | 2025 | 376 | $1,989 |
| THE VISIONAIRE | 99 yrs lease commencing from 2015 | — | 632 | $1,366 |
Lease Decay Analysis
The 99-year lease runs from 2010, meaning approximately 16 years have already been consumed. Roughly 83 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~83 years | Full bank financing available |
| 2040 | ~69 years | CPF usage still unrestricted for most buyers |
| 2049 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2069 | ~39 years | Significant financing restrictions for next buyer |
| 2109 | Expiry | Lease reverts to state |
For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~73 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates THE CANOPY across multiple dimensions.
What Residents Say
“The estate does not have as many units as estates such as Symphony Suites or The Estuary. The pool is beautiful and the convenience provided at the back gate is amazing. Exclusivity is a plus point.”
— Owner review via PropertyGuru
“Neighbours are kind and friendly. The estate is well managed by the current management, as can be seen from the amazing greenery within the estate. Close to primary schools and supermarkets.”
— Resident review via PropertyGuru
“Located in an area of Yishun that is quiet and close to beautiful parks, yet well connected to many amenities at the back gate. The bus to MRT makes heading to Northpoint a breeze.”
— Resident review via 99.co
The overall pattern across review platforms is notably positive for a decade-old EC. Residents consistently praise the well-maintained greenery, responsive estate management, and the quieter, more exclusive feel that comes with 406 units compared to larger neighbouring developments. Families highlight the proximity to primary schools — North View Primary in particular at just 410 metres — and the convenience of the back gate for accessing nearby amenities. The recurring negatives centre on MRT distance and the Yishun address bias, with one reviewer noting they “can’t think of anything not to like about The Canopy except that it is in Yishun for the nitpickers.” The management team receives unusually frequent praise for prompt communication and well-kept common areas — a factor that directly protects long-term property values.
Strengths & Weaknesses
- Fully privatised since 2024 — no remaining EC restrictions on resale
- Spacious units: 3-bedrooms from 1,023 sqft, significantly larger than new launch equivalents
- Strong 4.16% gross rental yield — among the better figures in the OCR segment
- Accessible quantum: 3-bedrooms from ~$1.1M, competitive for District 27
- Excellent primary school proximity — North View Primary just 410m, Huamin 580m
- Well-maintained estate with responsive management and lush landscaping
- Smaller 406-unit development feels more exclusive than nearby mega-projects
- Quiet residential pocket of Yishun, away from town centre bustle
- Multiple bus stops right outside for practical public transport access
- 90% Singaporean buyer base reflects genuine owner-occupier community
- Nearest MRT (Yishun NS13) is 1.6 km away — not walkable, bus or car required
- Walkability score of 48/100 reflects car-dependent daily living
- Facilities are lean compared to newer developments — no tennis court, BBQ pavilion, or water play
- 99-year lease from 2010 crosses 75-year CPF threshold in approximately 8 years
- Fittings and finishings are over a decade old — renovation costs should be budgeted
- Yishun address carries stigma bias that may affect resale to certain buyer segments
- No immediate MRT improvement planned for this pocket of Yishun
- Older EC design lacks modern features like smart home systems or EV charging
- Limited capital appreciation potential compared to newer-lease competitors
Verdict
The Canopy occupies a distinct niche in the northern Singapore property market: a fully privatised Executive Condominium with spacious units, decent rental yield, and accessible quantum — but meaningful compromises on MRT connectivity and facilities breadth. At an average PSF of roughly $1,150, it sits below nearby competitors like The Watergardens at Canberra ($1,487 PSF) and North Gaia ($1,312 PSF), while trading at a slight discount to Provence Residence ($1,182 PSF). For buyers who value space over newness, a 3-bedroom here at $1.1–1.3M offers significantly more square footage than a comparably priced new launch unit.
The honest weaknesses are real. The 1.6 km distance to the nearest MRT is a daily inconvenience for public transport users, not just an abstract number on a map. The walkability score of 48/100 reflects a genuine reliance on buses or a car for most trips beyond the immediate neighbourhood. Facilities are functional but lean compared to newer developments. The 99-year lease from 2010 leaves 83 years — crossing the 75-year CPF threshold in approximately eight years, which will increasingly affect financing options for the next buyer. The Yishun address, fairly or not, still carries a stigma bias among certain buyer segments that can dampen resale demand.
Where The Canopy genuinely excels is in its 4.16% gross rental yield — one of the stronger figures in the OCR segment, supported by proximity to Khoo Teck Puat Hospital, the Yishun employment catchment, and the development’s appeal to tenants who value spacious units at reasonable rents. The full privatisation since 2024 has removed all EC restrictions, giving sellers access to the widest possible buyer pool. For owner-occupiers with a car and school-age children, or investors seeking affordable entry with healthy rental returns, The Canopy’s value proposition holds up well. For MRT commuters or buyers prioritising long lease runway, the limitations are material enough to consider alternatives.