March 8 saw the successful sale of 682 units (90%) of Aurelle of Tampines, the 760-unit executive condominium (EC) developed by Sim Lian Group. The average unit price achieved was $1,766 psf.
Sim Lian Group reported that all four- and five-bedroom units have been sold, along with 84% of the three-bedroom units.
According to Kuik Sing Beng, the executive director of Sim Lian Group Limited, this overwhelming response highlights the strong demand for well-designed and conveniently located modern homes like Aurelle of Tampines, situated in the highly connected regional center of Singapore.
For the latest information on available units and prices at Aurelle of Tampines, interested buyers can visit the project’s official website.
CEO of PropNex, Ismail Gafoor, stated that the average unit price of $1,766 psf has established a new benchmark launch price in the EC market. He also added that the 90% launch take-up rate is the highest since the 531-unit Hundred Palms Residences, which sold out on its launch day in July 2017 at an average price of $841 psf.
Sim Lian also announced that the 30% quota allocated for second-timers was fully taken up by 3.15 pm on launch day. This quota is set to be lifted one month after the launch date.
“Eugene Lim, the key executive officer at ERA Singapore, commented that the take-up rate could have been even higher without the second-timers’ quota limit. However, he also mentioned that second-timers will have another opportunity to ballot for a unit one month after the launch date.
Mark Yip, CEO of Huttons Asia, suggested that the government may consider increasing the quota for second-timers buying an EC, aligning the policy with the recent increase in the allocation quota for second-timers purchasing three-room and larger BTO (build-to-order) flats.
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According to PropNex’s Gafoor, approximately 68% of buyers opted for the Deferred Payment Scheme (DPS) to finance their property purchases, with the remaining choosing the Normal Payment Scheme.
As of the launch date, over 2,200 e-applications (e-apps) were received since the project opened for preview on February 21. This is the highest e-app figure since Copen Grand, the first EC launched in Tengah, attracted 2,300 e-apps in 2022.
Read also: Are ECs still a good buy?
Aurelle is the second EC launched in Tampines North, following the neighboring 618-unit Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings. Launched in December 2022, Tenet saw 72% of its units sold on launch day. The project has now been 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 at 840 sq ft; $1.689 million ($1,651 psf) for a four-bedroom at 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom at 1,356 sq ft.
ERA’s Lim said, “the project’s attractive pricing, strategic location, and unique features have made it a highly sought-after option for eligible first-time buyers and upgraders.”
Aurelle’s strong sales could also be attributed to its proximity to ParkTown, a fully integrated mixed-use development with a transport hub (MRT station and bus interchange), shopping mall, hawker center, and community club.
ParkTown Residence, developed by a joint venture between CapitaLand and UOL Group, sold 1,041 units in its launch weekend on February 22-23. To date, 1,043 units have been sold at an average of $2,361 psf.
Huttons’ Yip mentioned that Aurelle is the second EC located next to a fully integrated mixed-use development, the first being the 573-unit Esparina Residences in Sengkang. Launched in October 2010, the average price was around $748 psf. Based on caveats lodged, the average price of units sold from January 2024 to January 2025 was $1,625 psf, a 117% increase.
In November last year, 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 Esparina Residences. The highest was for another 1,367 sq ft unit on the 14th floor that sold for $2.4 million ($1,756 psf) in November 2023, based on caveats lodged.
Read also: Sim Lian’s Aurelle of Tampines to set new price benchmark for executive condos
New ECs are priced approximately $600 psf cheaper than new private condos in 2025, according to ERA’s Lim. 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 amenities, makes new ECs a compelling choice for buyers,” he added.
Interested buyers can visit the project’s official website to check out the latest listings for Aurelle of Tampines. Additionally, they can also compare the price trend of new sale condos versus resale condos, as well as the total number of units at Aurelle of Tampines, using a buddy tool. The price trend graph for new launch condos in District 18 is also available on the website.