On March 8, developer Sim Lian Group successfully sold 682 units, which is 90% of the total 760 units, of its executive condominium (EC) project, Aurelle of Tampines. The average price achieved for these units was $1,766 per square foot (psf). According to Sim Lian Group, all four and five-bedroom units have been sold, and 84% of three-bedroom units have also been snapped up.
Executive director of Sim Lian Group Limited, Kuik Sing Beng, said that this overwhelming response highlights the strong demand for well-designed and well-connected modern homes, such as Aurelle of Tampines, in the regional centre of Singapore.
Interested buyers can find the latest information on available units and prices for Aurelle Of Tampines.
CEO of PropNex, Ismail Gafoor, commented that the average price of $1,766 psf has set a new benchmark for launch prices in the EC market. He also mentioned that the 90% take-up rate on launch day is the highest since the 531-unit Hundred Palms Residences sold out in July 2017, with an average price of $841 psf.
Sim Lian also announced that the 30% quota allocated for second-time buyers was filled by 3:15 pm on the launch day. This quota will be lifted one month after the launch.
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According to Eugene Lim, key executive officer at ERA Singapore, the take-up rate could have been even higher if there was no quota limit on second-time buyers. However, he also noted that these buyers will have another chance to ballot for a unit one month after the launch.
Mark Yip, CEO of Huttons Asia, believes that the government may increase the quota for second-time buyers of ECs, in line with the recent increase in allocation quota for second-time buyers of three-room and larger BTO flats.
PropNex’s Gafoor noted that around 68% of buyers chose the Deferred Payment Scheme (DPS) to finance their purchases, while the remaining opted for the Normal Payment Scheme.
More than 2,200 electronic applications (e-apps) were received before the launch, since the project was open for preview on Feb 21. This 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 neighboring 618-unit Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings. According to reports, Tenet, launched in December 2022, saw 72% of its units sold on launch day at an average price of $1,348 psf.
The prices for Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedroom unit of 840 square feet, $1.689 million ($1,651 psf) for a four-bedroom unit of 1,023 square feet, and $2.258 million ($1,665 psf) for a five-bedroom unit of 1,356 square feet.
ERA’s Lim believes that the pricing, location, and unique features of the project have made it a highly desirable option for eligible first-time buyers and upgraders.
One of the reasons for Aurelle’s strong sales could be its proximity to ParkTown, a fully-integrated mixed-use development with a transport hub, shopping mall, hawker center, and community club. The 1,193-unit ParkTown Residence, developed 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 price of $2,361 psf.
According to Huttons’ Yip, Aurelle 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 was around $748 psf then. However, based on caveats lodged, the average price of units sold from January 2024 to January 2025 is $1,625 psf, which is 117% higher.
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 in the project. The highest was for another 1,367 sq ft unit on the 14th floor, which was sold for $2.4 million ($1,756 psf).
ERA’s Lim notes that new ECs are priced around $600 psf cheaper than new private condos launched 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. He adds that with a fresh 99-year lease and modern facilities, new ECs are a wise choice for buyers.