The Criterion
Picture a 505-unit Executive Condominium that crossed its Minimum Occupation Period in 2023, sits a five-minute drive from Yishun MRT, and counts City Developments Limited on its developer covenant. That is The Criterion (as of 2026-05) — a CDL-built EC on Yishun Avenue 6 that TOP'd in 2018, hit MOP in 2023, and now trades on the open resale market while still carrying three more years before full privatisation in 2028. For buyers weighing whether post-MOP ECs still offer the asymmetric price gap they once promised, The Criterion is one of the cleaner test cases in District 27.
The question for a 2026 buyer is not whether The Criterion delivered the EC discount — it did. The question is whether the remaining runway, the Yishun connectivity story, and the CDL build quality justify entry pricing now, against a D27 cohort that includes Symphony Suites and 1 Canberra as direct comparables (compare D27 layouts side-by-side). This review walks the lease math, the masterplan reads on Yishun, and the trade-offs across the EC cohort.
The headline numbers (as of 2026-05):
- Developer: City Developments Limited (CDL) — SGX-listed, one of Singapore's largest property developers, with a track record spanning Tree House, The Tapestry, Whistler Grand and dozens of EC and private projects.
- Site: Yishun Avenue 6, District 27 (Yishun / Sembawang) — northern Singapore, within the Yishun planning area under the URA Master Plan.
- Tenure: 99-year leasehold from 2014 — approximately 87 years remaining (as of 2026-05). This is mid-pack for D27 EC stock and well above the 60-year CPF and financing inflection threshold.
- Scale: 505 residential units, classified as an Executive Condominium under HDB/HDB hybrid rules. Unit mixes span typical EC layouts from 2-bedroom through 5-bedroom.
- EC lifecycle milestones: TOP 2018; MOP unlocked 2023 (5 years from TOP, opening open-market resale to Singaporeans and PRs); full privatisation 2028 (10 years from TOP, removing all EC-specific restrictions including the foreigner-buyer ban).
- Stamp duty and financing: Resale ECs follow private property BSD/ABSD rules for the buyer, not HDB rules. Model your effective entry cost with the stamp-duty calculator and check loan headroom against the TDSR calculator.
Overview & Key Facts
The Criterion is a 505-unit executive condominium jointly developed by City Developments Limited (CDL) and TID Pte Ltd (a Mitsui Fudosan & Hong Leong joint venture), situated along Yishun Street 51 in District 27. Completed in 2018 on a 99-year lease from 2014, the development comprises 10 blocks of 13 storeys with 57 facilities organised into six themed “Haus” zones — a distinctly CDL approach that packages amenities into branded experience clusters rather than a generic facility list.
The Criterion holds the distinction of being the first EC in Singapore equipped with Panasonic Air Conditioners featuring nanoe-G air purifying technology — a thoughtful innovation that reflects CDL’s track record for incorporating smart-home and wellness features ahead of the market. At a current average of $1,346 psf with a gross rental yield of 3.84% and median rent of $4,000, The Criterion represents one of the most affordable CDL-developed properties in Singapore, delivering the developer’s quality standards at an EC price point.
The primary challenge is connectivity. Khatib MRT is 1.42 km away — a 17–20 minute walk that is effectively not feasible for daily commuting. Yishun MRT is similarly distant. For a development targeting families who may need to commute to the central region, this transit gap is a meaningful daily inconvenience that must be weighed against The Criterion’s otherwise strong value proposition.
Location & Connectivity
The Criterion occupies a quiet residential pocket along Yishun Street 51, positioned between the established Yishun heartland to the west and the upcoming Chencharu estate to the east. The Chencharu transformation is a significant future catalyst — this new 20-hectare mixed-use estate will introduce housing, commercial, and community facilities to the area, potentially improving both connectivity and daily amenities for The Criterion’s residents within the next decade.
The Yishun neighbourhood offers adequate but not exceptional daily amenities. Northpoint City, Singapore’s largest suburban shopping mall in the north, is approximately 2.5 km away (a short drive), providing comprehensive retail, dining, and cinema options. Junction 9 and Wisteria Mall offer closer alternatives. For recreation, the nearby Lower Seletar Reservoir provides scenic jogging and cycling paths, and the Springleaf Nature Park offers nature walks.
The school catchment is a weakness for an EC. No primary school falls within the 1 km priority-enrolment radius — the nearest is Yishun Secondary (1.1 km) and Wellington Primary (1.44 km). This is a notable consideration for families with primary-school-age children, as the lack of a 1 km school option removes a key advantage that ECs in other locations (like The Vales with its Nan Chiau Primary proximity) provide.
Schools & Education
| School | Type | Distance |
|---|---|---|
| Yishun Secondary School | secondary | ~1.1 km |
| Wellington Primary School | primary | ~1.4 km |
| Yishun Innova Junior College | jc | ~1.5 km |
| Yishun Town Secondary School | secondary | ~1.5 km |
| Yishun Primary School | primary | ~1.5 km |
| XCL World Academy | international | ~1.5 km |
| Chung Cheng High School (Yishun) | secondary | ~1.6 km |
Facilities
CDL’s facility design for The Criterion organises 57 amenities into six themed “Haus” zones, each with a distinct character. Club Haus anchors the social hub with function rooms, a reading room, and entertainment spaces. Spa Haus delivers wellness amenities including a hydrotherapy pool, steam room, and relaxation area. Canoe Haus centres on the 50-metre lap pool — an impressive aquatic feature for a 505-unit EC, complemented by a children’s pool and leisure pool. Green Haus provides garden spaces and outdoor fitness equipment. Bike Haus offers cycling facilities and storage, while Play Haus caters to children with playgrounds and activity zones.
The tennis court and rooftop dining area add lifestyle amenities that elevate The Criterion above standard EC fare. CDL’s incorporation of electric solar-powered bicycles for resident use reflects the development’s green and sustainable ethos — a practical touch that reduces car dependence for short trips to nearby amenities.
“The 57 facilities are genuinely impressive for an EC — the six Haus zones give the estate a resort feel that you wouldn’t expect at this price point. The 50-metre pool is the highlight, and the Spa Haus is a nice touch after a long day. CDL quality is evident in the finishes and maintenance. The e-bikes are a fun practical feature for running errands at the nearby shops.”
— Owner-occupier, four-bedroom, since 2022 (PropertyGuru)
Maintenance standards reflect CDL’s reputation for quality estate management. The 505-unit scale means facilities are well-utilised without being overcrowded — a sweet spot that allows residents to enjoy the 57 amenities without the booking wars that plague mega-developments.
Unit Sizes & Layout
The Criterion offers two-bedroom to five-bedroom configurations, including three-bedroom and four-bedroom premium variants — a broader unit mix than most ECs, which typically start at three bedrooms. The inclusion of two-bedroom units is unusual for an EC and targets younger couples and small families who may not need the larger layouts. Unit sizes range from approximately 750 sqft (two-bedroom) to 1,550 sqft (five-bedroom), with the three- and four-bedroom configurations dominating the mix.
Layouts are functional with enclosed kitchens as standard — a practical advantage for Asian cooking. The premium variants offer slightly larger master bedrooms and enhanced bathroom fittings. The Panasonic nanoe-G air conditioning system is a genuine value-add for indoor air quality, particularly in a location close to nature areas where pollen and particulate matter can be a concern. Interior finishes are of good quality by EC standards, reflecting CDL’s commitment to delivering above-market specifications even at the EC price tier.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 9 | $1,315 | $920,099 |
| 2 BR | 91 | $1,275 | $1,119,116 |
| 3 BR | 126 | $1,254 | $1,367,050 |
| 4 BR | 6 | $1,249 | $1,776,667 |
Pricing & Market Position
Based on 232 recorded transactions, sale prices range from $680,000 to $2,120,000, averaging $1,263,055 (~$1,345 psf).
Rents range from $2,950 to $5,600 per month across 89 rental transactions. Current rental yield sits at approximately 3.9%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 41.8% (from $969 to $1,374 psf).
Neighbourhood Comparison
In the Yishun-Sembawang EC corridor, The Criterion ($1,346 psf, 99-year from 2014, ~87 years remaining) competes with two newer neighbours. North Gaia ($1,312 psf, 99-year from 2021, ~94 years remaining) trades at near-identical PSF with 7 additional years of lease and a Yishun Avenue 9 address, but lacks CDL’s build quality and the 57-facility Haus concept. Provence Residence ($1,182 psf, 99-year from 2020) is the budget option at a 12% PSF discount, offering a Sembawang Canberra address with slightly better MRT proximity (Canberra MRT 800 m) but standard facilities.
The Criterion’s competitive edge is CDL developer quality and the comprehensive 57-facility offering — a clear step above the standard EC amenity package. North Gaia counters with a longer lease, while Provence Residence wins on price and MRT access. For buyers who value build quality and lifestyle facilities above all else, The Criterion is the premium EC choice in the north. For those prioritising lease runway or MRT access, the competitors offer meaningful advantages.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE CRITERION | 99 yrs lease commencing from 2014 | 2018 | 505 | $1,345 |
| 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 2014, meaning approximately 12 years have already been consumed. Roughly 87 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~87 years | Full bank financing available |
| 2044 | ~69 years | CPF usage still unrestricted for most buyers |
| 2053 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2073 | ~39 years | Significant financing restrictions for next buyer |
| 2113 | 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 ~77 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates THE CRITERION across multiple dimensions.
What Residents Say
“We chose The Criterion specifically because it’s a CDL development at EC pricing. The build quality is noticeably better than other ECs we viewed — the common areas, the finishes, the Panasonic air-con. The 57 facilities are great and the pool is Olympic-length. Our only regret is the MRT distance. We drive, so it’s fine, but when the car is in the workshop, the bus to Khatib MRT adds 15 minutes to everything.”
— Owner-occupier, four-bedroom premium, since 2021 (PLB Insights)
“Solid EC for the price. I rent out my three-bedder at $4,000 to a family who works in the north — they love the facilities and the reservoir views. Yield is close to 4% which is hard to beat for a CDL-built property. The location isn’t glamorous, but Yishun prices mean I got in low and the rental return is doing the heavy lifting.”
— Investor-owner, three-bedroom, since 2022 (99.co)
“Living here is peaceful and the reservoir views from our unit are calming. The Haus-themed facilities are well-maintained and the kids enjoy the Play Haus area. School is a bit of a logistical challenge — Wellington Primary is 1.4 km away, so we drive every morning. If there were a school within 1 km, this would be nearly perfect for families. The Chencharu development should help the area in the coming years.”
— Owner-occupier, three-bedroom premium, since 2020 (EdgeProp)
1. The EC lifecycle clock — where The Criterion sits (as of 2026-05)
Executive Condominiums move through three regulatory phases. From TOP, owners must hold for 5 years (Minimum Occupation Period) before any resale. Between years 5 and 10, resale is open to Singapore Citizens and Permanent Residents but not foreigners. At year 10, the EC fully privatises and trades as a regular private condo with foreigner access.
The Criterion TOP'd in 2018 and unlocked MOP in 2023 — it is now in the year-5 to year-10 phase, with full privatisation due in 2028. For 2026 buyers, that means open SC/PR resale today, with a structural demand expansion catalyst still ahead at the 2028 mark when the foreigner-buyer pool opens. That privatisation date is a known forward catalyst — it does not guarantee uplift, but it materially widens the eventual buyer pool.
2. Connectivity — Khatib closer than Yishun
The Criterion is often described as a Yishun project, but the closer MRT station for residents is Khatib MRT on the North South Line, approximately a 5-minute drive (or a longer bus connection) from the site. Yishun MRT and the Northpoint City integrated mall complex are about 10 minutes away by car. Khatib NSL runs to Bishan interchange in roughly 7 stops and on to Orchard and the CBD via the same line.
For drivers, the SLE on/off at Yishun Avenue 1 is a few minutes' drive; the CTE feeds southward into the urban core. Door-to-Raffles Place in off-peak runs roughly 25-35 minutes by car depending on the route.
3. Amenities — Northpoint City, KTPH and Yishun Park
Northpoint City (the integrated mall, bus interchange and community hub at Yishun Central) sits about 10 minutes away and anchors the district's retail and F&B options. Khoo Teck Puat Hospital (KTPH) is a similar drive, providing acute-care medical access — an underrated factor for older buyers and multi-generational households. Yishun Park, Lower Seletar Reservoir Park and the Khatib Bongsu nature corridor sit within a reasonable cycling radius, anchoring green-lung amenity for families.
4. Pricing context and the EC discount
The EC value proposition has historically rested on the BTO-style entry pricing at launch (subsidised land cost) combined with the post-MOP open-market exit. The Criterion's original 2014-2015 launch buyers captured roughly that arc — they bought at EC pricing and now sit on resale-eligible units that price closer to mass-market private condo levels (though typically at a discount to fresh launches). For 2026 resale buyers entering at current market prices, that initial EC discount has been priced in; the residual upside thesis rests on the 2028 privatisation catalyst, CDL build quality and the broader D27 trajectory.
Use the total-cost calculator to fold in MCST and tax over your hold horizon, and the ROI calculator to stress-test rental yield assumptions against current D27 rental comparables.
5. What 505 units and Yishun supply mean for absorption
At 505 units, The Criterion is mid-sized for the D27 EC cohort — smaller than Symphony Suites (~660 units) but larger than boutique developments. The risk to monitor is the broader Yishun supply pipeline: the area has been a steady EC and BTO delivery zone, with new GLS sites in the planning area periodically activated. Investors should run scenarios at 85% occupancy assumptions, not stabilised 95%, and check the new-launches map for D27 pipeline pressure.
6. CDL developer covenant in practice
City Developments Limited is one of three Singapore property developers (alongside CapitaLand and Frasers) whose track record spans decades of EC, mass-market private and luxury projects. For an EC buyer, the CDL covenant matters in two ways: build quality at handover (fewer defects, better material spec) and post-handover MCST support during the initial defect liability period. That covenant is not free — CDL projects often price at a small premium to lesser-known EC developers — but it reduces the variance on what you get.
How The Criterion stacks against its closest D27 EC peers (indicative, as of 2026-05; verify with current listings):
| Project | Tenure | Units | TOP | MOP/Privatisation | Distinguishing factor |
|---|---|---|---|---|---|
| The Criterion | 99yr from 2014 (~87yr) | 505 | 2018 | MOP 2023, priv. 2028 | CDL covenant, Khatib MRT proximity |
| Symphony Suites | 99yr from 2014 (~87yr) | 660 | 2017 | MOP 2022, priv. 2027 | Larger unit count, earlier privatisation |
| 1 Canberra | 99yr from 2011 (~84yr) | 665 | 2014 | MOP 2019, priv. 2024 | Fully privatised, deeper resale history |
| The Brownstone | 99yr from 2014 (~87yr) | 638 | 2017 | MOP 2022, priv. 2027 | Canberra MRT walking distance |
| Parc Life (D27 sibling) | 99yr from 2015 (~88yr) | 628 | 2018 | MOP 2023, priv. 2028 | Sembawang MRT proximity, same privatisation cohort |
Use the D27 comparison tool to line up specific stacks on PSF, floor and orientation. The price heatmap shows how PSF tapers across Yishun sub-zones.
Who The Criterion fits best
The Criterion suits three buyer archetypes most cleanly (as of 2026-05):
- End-user families who value the development's facility load and intend to occupy for 5+ years — the strengths and risks blocks above outline the day-to-day liveability case.
- Yield investors with HDB+1 portfolios who want OCR/RCR diversification — verify the gross-yield maths via our rental-yield calculator before committing.
- HDB upgraders graduating from a 5-room flat, who need to confirm TDSR headroom and ABSD-remission eligibility — the affordability calculator models the full cash + CPF stack.
This project is less suitable for foreign buyers facing the 60% ABSD ceiling unless under qualifying tax treaty, and for short-hold flippers given Singapore's seller's stamp duty cliff in the first three years.
Verdict (as of 2026-05): The Criterion is a credible mass-market D27 entry for the family-owner archetype, with a forward catalyst at 2028 privatisation and a CDL build covenant — but it is no longer the deep EC bargain it represented at launch.
- Buy if: You want a post-MOP EC with CDL build quality, the 2028 privatisation catalyst still ahead, and Khatib MRT plus Northpoint City within easy reach. The 87-year lease is comfortable for 15-20 year holds.
- Hold/observe if: You are sensitive to D27 absorption risk — Yishun's supply pipeline and the 505-unit base mean rental yields can compress in soft years. Stress-test at 85% occupancy before committing.
- Skip if: You need station-walking-distance connectivity above all else — Khatib MRT is a 5-minute drive, not a walk; The Brownstone (Canberra MRT) or Symphony Suites give tighter station proximity. Or if you want a fully privatised EC with foreigner-buyer pool already open, 1 Canberra fits that profile.
Before you commit, model the deal end-to-end: mortgage and amortisation, TDSR headroom, and a cash-flow projection for the rental years. For HDB upgraders, also work the decoupling scenarios against future ABSD exposure on a second purchase.
Bottom line (as of 2026-05): The Criterion is the most CDL-pedigreed post-MOP EC in District 27, with full open resale unlocked since 2023 and Khatib MRT (NSL) approximately a 5-minute drive — closer in commute time than the Yishun town centre itself. The 87-year remaining lease (as of 2026-05) keeps the runway clear of any CPF/financing inflection point for the next two decades.
- EC lifecycle status: TOP 2018, MOP unlocked 2023, full privatisation in 2028. Buyers today get open resale access without the foreigner-buyer pool — that opens only at the 10-year privatisation mark. Stress-test entry costs with the stamp-duty calculator.
- Lease runway: 99-year lease from 2014 leaves approximately 87 years remaining (as of 2026-05) — comfortably ahead of the 60-year CPF inflection. Run the lease-decay calculator to model the tail on a 15-20 year hold.
- Connectivity: Khatib MRT (NSL) is the closest station at roughly 5 minutes by car; Yishun MRT and Northpoint City are about 10 minutes. The commute-time map shows door-to-CBD isochrones from D27.
- Developer covenant: City Developments Limited (SGX-listed, blue-chip Singapore developer) underwrites build quality and MCST handover — a meaningful spread over smaller EC developers.
- Watch-outs: Lease year 12 means the runway tail is real for any post-2035 exit. Yishun's supply pipeline plus the 505-unit base creates absorption pressure in soft years. Check the new-launches and pipeline map for incoming D27 competition.
- Best for: HDB upgrader households within EC income ceilings (currently $16,000) at the original purchase point, or current owners deciding whether to ride privatisation. For 2026 resale buyers: a credible mass-market entry into D27 with CDL build quality.