The developer Sim Lian Group made an impressive sale of 682 units (90%) out of the total 760 units of its executive condominium (EC) project, Aurelle of Tampines, on Mar 8. Located at Tampines Street 62, the units were sold at an average price of $1,766 psf.
According to Kuik Sing Beng, executive director of Sim Lian Group Limited, all four- and five-bedroom units have been sold, while 84% of the three-bedroom units have also been snapped up. He attributes the high demand for the EC to its well-designed and connected homes in the highly sought-after regional centre of Singapore.
For interested buyers, the latest information on available units and prices for Aurelle Of Tampines can be obtained.
PropNex CEO, Ismail Gafoor, notes that the average price of $1,766 psf has set a new record for launch prices in the EC market. He also points out that the 90% take-up rate is the highest for a new EC project since July 2017 when the 531-unit Hundred Palms Residences was sold out on launch day at an average price of $841 psf.
Sim Lian Group also announced that the 30% quota allocated for second-timers was fully taken up by 3:15 pm on the day of the launch. The quota for second-timers will be lifted after one month from the launch date.
Eugene Lim, key executive officer at ERA Singapore, comments that the take-up rate could have been even higher if there was no quota on second-timers. However, he adds that second-timers will have an opportunity to ballot for a unit a month after the launch.
Mark Yip, CEO of Huttons Asia, predicts that the government may increase the quota for second-timers buying an EC, bringing the policy in line with the recent increase in quota for second-timers buying three-room and larger BTO flats.
Interestingly, 68% of the buyers have opted for the Deferred Payment Scheme (DPS) to finance their purchases, as stated by PropNex’s Gafoor. The remaining buyers have chosen the Normal Payment Scheme.
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Prior to the launch, over 2,200 electronic applications (e-apps) were received since the project’s preview on Feb 21. This is the highest e-app figure since the launch of the first EC in Tengah, Copen Grand, which attracted 2,300 e-apps in 2002.
Aurelle of Tampines is the second EC launched in Tampines North, following the neighbouring 618-unit Tenet by Qingjian Realty, Santarli Realty, and Heeton Holdings. Launched in December 2022, Tenet saw 72% of its units sold on launch day. The project is now fully sold at an average price of $1,348 psf.
Prices at Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedroom unit of 840 sq ft; $1.689 million ($1,651 psf) for a four-bedroom unit of 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom unit of 1,356 sq ft.
Lim highlights the project’s competitive pricing, strategic location, and unique features as key factors that have made it a highly sought-after option for eligible first-time buyers and upgraders.
Aurelle’s successful sales may also be due to its proximity to ParkTown, a fully integrated mixed-use development with a transport hub, shopping mall, hawker centre, and community club. The 1,193-unit ParkTown Residence, a joint venture between CapitaLand and UOL Group, has sold 1,041 units on its launch weekend on Feb 22-23, with a current average price of $2,361 psf.
According to Yip, Aurelle is only the second EC to be located next to a fully integrated mixed-use development, the first being the 573-unit Esparina Residences in Sengkang. Launched in 2010, the average price was around $748 psf. However, based on caveats lodged, the average price of units sold from January 2004 to January 2005 was $1,625 psf, a significant 117% increase.
In November 2023, a 1,367 sq ft unit on the seventh floor of Esparina Residences was sold for $2.388 million ($1,747 psf), the second-highest psf price achieved at the development. The highest price was for a similar unit on the 14th floor that sold for $2.4 million ($1,756 psf) in November 2023, based on caveats lodged.
ERA’s Lim points out that new ECs are priced around $600 psf lower than new private condos in 2025. However, compared to resale condos in the suburbs or Outside Central Region (OCR), the average price of a new EC is only 1% higher. This, combined with a fresh 99-year lease and modern facilities, makes new ECs an attractive choice for buyers.
Interested in Aurelle Of Tampines? Check out the latest listings and compare the price trend of new sale condos and resale condos in District 18. Don’t miss out on this opportunity to be a part of setting new price benchmarks for executive condos in 2025.