Sim Lian's Aurelle of Tampines EC 90% sold at an average price of $1,766 psf

On Mar 8, developer Sim Lian Group sold 682 units (90%) of its 760-unit executive condominium (EC), Aurelle of Tampines, located at Tampines Street 62. The units sold achieved an average price of $1,766 psf. According to Sim Lian Group, all the four- and five-bedroom units have been taken up. About 84% of the three-bedroom units have also been sold. "This remarkable response underscores the strong demand for thoughtfully designed and well-connected modern homes like Aurelle of Tampines, in the most well-connected regional centre in Singapore," commented Kuik Sing Beng, executive director of Sim Lian Group Limited.

According to Ismail Gafoor, CEO of PropNex, the average price of $1,766 psf has set yet another new benchmark launch price in the EC market. He adds that the 90% launch take-up rate is the highest for a new EC project since the 531-unit Hundred Palms Residences was sold out on launch day in July 2017 at an average price of $841 psf. Sim Lian also said that the 30% quota allocated for second-timers was achieved by 3.15 pm yesterday. The quota on second-timers will be lifted a month from the launch date.

"The take-up rate could have been higher without the quota limit on second-timers," remarks Eugene Lim, key executive officer at ERA Singapore. However, he adds that the second-timers will have another opportunity to ballot for a unit a month after the launch date. "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 [build-to-order] flats," says Mark Yip, CEO of Huttons Asia. About 68% of the buyers were said to have taken up the Deferred Payment Scheme (DPS) to finance their property purchases, notes PropNex's Gafoor, with the balance opting for the Normal Payment Scheme.

Ahead of the launch, more than 2,200 electronic applications (e-apps) were received since the project opened for preview on Feb 21. It is the highest e-app figure since Copen Grand, the first EC launched in Tengah, attracted 2,300 e-apps in 2022.

Aurelle is the second EC launched in Tampines North, following the neighbouring 618-unit Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings. Tenet, launched in December 2022, saw 72% of the units snapped up on launch day. The project is said to be 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 from 840 sq ft; $1.689 million ($1,651 psf) for a four-bedroom from 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom of 1,356 sq ft. "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," says ERA's Lim.

Aurelle's strong sales could also be due to the EC's proximity to ParkTown, a fully integrated mixed-use development with a transport hub (MRT station and bus interchange), including a shopping mall, hawker centre, and community club. The 1,193-unit ParkTown Residence, by 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.

"Aurelle is probably the second EC to be located next to a fully integrated mixed-use development," says Huttons' Yip. The first was the 573-unit Esparina Residences in Sengkang. Launched in October 2010, the average price was around $748 psf then. Based on caveats lodged, the average price of units sold from January 2024 to January 2025 is $1,625 psf, which is 117% higher. Last November, a 1,367 sq ft unit on the seventh floor of Esparina Residences changed hands 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 fetched $2.4 million ($1,756 psf) In November 2023, based on caveats lodged.

New ECs are priced about $600 psf cheaper than new private condos in 2025, notes ERA's Lim. However, compared with resale condos in the suburbs or Outside Central Region (OCR), the average price of a new EC is just 1% higher. "This, coupled with a fresh 99-year lease and modern facilities, makes new ECs a compelling choice for buyers," he adds.