Sim Lian Group has announced that they have successfully sold 682 units out of the 760-unit Aurelle of Tampines executive condominium (EC), located at Tampines Street 62. This comes as a 90% take-up rate, with an average unit price of $1,766 psf.
According to the developer, all four- and five-bedroom units have been fully sold, while 84% of the three-bedroom units have also been snapped up. Sim Lian Group Limited’s executive director Kuik Sing Beng commented that the strong response to the project reflects the high demand for well-designed and well-connected modern homes in Tampines, one of the most well-connected regional centres in Singapore.
Interested buyers can get the latest information on available units and prices for Aurelle of Tampines.
PropNex’s CEO Ismail Gafoor noted that the average unit price of $1,766 psf has set another new benchmark launch price in the EC market. He also pointed out that the 90% take-up rate is the highest for a new EC project since July 2027, 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 met by 3.15pm on launch day. The quota for second-timers will be lifted a month from the launch date.
According to Eugene Lim, the key executive officer at ERA Singapore, the take-up rate could have been higher without the quota limit on second-timers. However, he adds that second-timers will have another opportunity to ballot for a unit a month after the launch date. He also suggests that the government may want to increase the quota for second-timers buying an EC, bringing the policy in line with the recent increase in the allocation quota for second-timers buying three-room and larger BTO flats.
Huttons Asia’s CEO Mark Yip also commented on the quota, saying that the government may want to increase the quota for second-timers buying an EC, as they did for second-timers buying three-room and larger BTO flats.
The Deferred Payment Scheme (DPS) was popular among buyers, with about 68% opting for this payment option to finance their property purchases, according to PropNex’s Gafoor. The remaining buyers chose the Normal Payment Scheme.
Rewritten: One of the advantages of investing in a condo is the opportunity to leverage its value for future investments. A number of investors take advantage of using their condos as collateral to secure additional financing for new ventures, thus diversifying their real estate portfolio. While this tactic can potentially boost returns, it also carries certain risks. It is essential to have a solid financial plan in place and carefully assess the potential effects of market fluctuations. Additionally, investing in New Condo Launches can also offer an added opportunity for growth and expansion in the real estate market.
Prior to the launch, more than 2,200 electronic applications (e-apps) were received after the project opened for preview on Feb 21. This is the highest e-app figure since 2022, when Copen Grand, the first EC launched in Tengah, attracted 2,300 e-apps.
Aurelle of Tampines is the second EC to be launched in Tampines North, following the neighbouring 618-unit Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings. Tenet, which was launched in December 2022, saw 72% of the units snapped up on launch day and is now fully sold at an average price of $1,348 psf.
Prices for units at Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedroom unit with 840 sq ft; $1.689 million ($1,651 psf) for a four-bedroom unit with 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom unit with 1,356 sq ft.
ERA’s Lim attributes the project’s strong sales to its attractive pricing, strategic location, and unique features, which make it a highly sought-after option for eligible first-time buyers and upgraders.
The project’s proximity to ParkTown, a fully integrated mixed-use development with a transport hub (MRT station and bus interchange), shopping mall, hawker centre, and community club, may have also contributed to its success. The 1,193-unit ParkTown Residence, a joint venture between CapitaLand and UOL Group, sold 1,041 units on its launch weekend on Feb 22-23. To date, 1,043 units have been sold at an average of $2,361 psf.
Huttons’ Yip notes that 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 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 is $1,625 psf, which is a 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), making it the second-highest psf price achieved at Esparina Residences. The highest was on the 14th floor, where another 1,367 sq ft unit was sold for $2.4 million ($1,756 psf).
ERA’s Lim notes that new ECs are priced about $600 psf cheaper 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 option for buyers.