for the market
On March 8, property developer Sim Lian Group successfully sold 682 out of 760 units (90%) of its executive condominium (EC) project, Aurelle of Tampines, located at Tampines Street 62. The average selling price for these units was $1,766 per square foot (psf).
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Sim Lian Group revealed that all four- and five-bedroom units have been sold, and 84% of the three-bedroom units have also been snapped up. “This impressive response highlights the strong demand for well-designed and well-connected modern homes like Aurelle of Tampines, in Singapore’s most well-connected regional center,” said Kuik Sing Beng, executive director of Sim Lian Group Limited.
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According to Ismail Gafoor, CEO of PropNex, the average price of $1,766 psf has set a new benchmark for EC launches. He also noted that the 90% take-up rate on launch day was the highest since the 531-unit Hundred Palms Residences was fully sold on its launch day in July 2017, with an average price of $841 psf.
Sim Lian Group also announced that the 30% quota allocated for second-time buyers was achieved by 3:15pm on the launch day. The quota on second-time buyers will be lifted one month from the launch date.
“The take-up rate could have been even higher without the quota limit on second-time buyers,” remarked Eugene Lim, key executive officer at ERA Singapore. However, he also mentioned that second-time buyers will have another chance to ballot for a unit one month after the launch date.
“The government may also consider increasing the quota for second-time buyers of ECs, bringing the policy in line with the recent increase in the allocation quota for second-time buyers of three-room and larger BTO [build-to-order] flats,” said Mark Yip, CEO of Huttons Asia.
PropNex’s Gafoor noted that about 68% of buyers opted for the Deferred Payment Scheme (DPS), with the remaining choosing the Normal Payment Scheme.
Prior to the launch, over 2,200 electronic 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. Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings, was launched in December 2022 and saw 72% of its units sold on launch day. The project has since been fully sold at an average price of $1,348 psf.
The prices at Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedroom unit of 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 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,” said ERA’s Lim.
Aurelle’s strong sales can 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. 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. As of now, 1,043 units have been sold at an average price of $2,361 psf.
“Aurelle is probably the second EC to be located next to a fully integrated mixed-use development,” said Huttons’ Yip, with the first being the 573-unit Esparina Residences in Sengkang. Launched in October 2010, the average price then 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 an increase of 117%.
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 recorded was for another 1,367 sq ft unit on the 14th floor, which was 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 around $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. “Coupled with a fresh 99-year lease and modern facilities, new ECs present a compelling choice for buyers,” he added.
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Aurelle Of Tampines has a total of 760 units, and you can view the price trend comparison of new launch condos and ECs on our website.
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In related news, Sim Lian Group’s Aurelle of Tampines is set to establish a new price benchmark for executive condominiums. Additionally, other executive condos launched in 2025 are expected to set new price benchmarks for the market.