The executive condominium market continues to thrive in Singapore as developer Sim Lian Group reported selling 682 out of 760 units at their project, Aurelle of Tampines, during its launch on Mar 8. This translates to a whopping 90% of the units being sold, with an average price of $1,766 per square foot (psf).
Situated in Tampines, one of Singapore’s most well-connected regional centres, Aurelle of Tampines offers thoughtfully designed and conveniently located modern homes, making it a highly sought-after option for first-time buyers and upgraders.
The project’s impressive sales figures also set a new benchmark for executive condominiums in the market. Ismail Gafoor, CEO of PropNex, notes that the average price of $1,766 psf is the highest launch price for an EC to date. He adds that the 90% take-up rate is also the highest since the 531-unit Hundred Palms Residences was sold out on launch day in July 2017 at an average price of $841 psf.
All the four- and five-bedroom units at Aurelle of Tampines have been snapped up, while 84% of the three-bedroom units have also been sold, according to Sim Lian Group. “This remarkable response underscores the strong demand for well-designed, well-connected homes in Singapore’s most well-connected regional centre,” says Kuik Sing Beng, the group’s executive director.
Prospective buyers can check out the latest details on available units and prices for Aurelle of Tampines. According to Eugene Lim, key executive officer at ERA Singapore, the sales could have been even higher if not for the 30% quota allocated for second-time buyers, which was reached by 3.15 pm on the launch day.
However, Lim notes that second-time buyers will have another chance to ballot for a unit a month after the launch date. This quota limit may be reviewed by the government, as Mark Yip, CEO of Huttons Asia, suggests, in line with the recent increase in quota allocation for second-time buyers of BTO flats.
Around 68% of buyers at Aurelle of Tampines have opted for the Deferred Payment Scheme (DPS) to finance their purchases, according to PropNex’s Gafoor. The remaining buyers have gone with the Normal Payment Scheme.
Prior to the launch, over 2,200 electronic applications were received since the project’s preview on Feb 21. This is the highest figure for e-applications since the launch of Copen Grand, the first EC in Tengah, which saw 2,300 e-applications in 2022.
Aurelle of Tampines is the second EC to be launched in Tampines North, following the success of the 618-unit Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings. Launched in December 2022, Tenet was fully sold at an average price of $1,348 psf with 72% of the units taken up on launch day.
Prices at Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedroom unit spanning 840 sq ft; $1.689 million ($1,651 psf) for a four-bedroom unit spanning 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom unit of 1,356 sq ft.
One of the reasons for the strong sales at Aurelle of Tampines could be its 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.
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 price of $2,361 psf.
Huttons’ Yip points out that Aurelle of Tampines is only the second EC to be located next to a fully integrated mixed-use development, with the first being the 573-unit Esparina Residences in Sengkang. Launched in October 2010, the average price then was around $748 psf. However, based on caveats lodged, the average price for units sold from January 2024 to January 2025 stands at $1,625 psf, which is a remarkable 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), which was the second-highest psf price achieved at the development. The highest price achieved was for another 1,367 sq ft unit on the 14th floor, which fetched $2.4 million ($1,756 psf). These prices are based on caveats lodged.
According to Lim, new ECs are generally 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, coupled with a fresh 99-year lease and modern facilities, makes new ECs a compelling choice for buyers.
Overall, the strong sales at Aurelle of Tampines suggest that the executive condominium market is still in high demand in Singapore. With its attractive pricing, strategic location, and unique features, Aurelle of Tampines is proving to be a highly sought-after option for homebuyers.
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