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On March 8, Sim Lian Group, the developer of Aurelle of Tampines, an executive condominium (EC) located at Tampines Street 62, sold 682 units out of its 760 units, achieving a take-up rate of 90%. The units were sold at an average price of $1,766 per square foot (psf).
According to Sim Lian Group, all the four- and five-bedroom units have been taken up, while 84% of the three-bedroom units have also been sold. Kuik Sing Beng, executive director of Sim Lian Group Limited, commented on the strong response, saying, “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.”
Interested buyers can find the latest details on available units and prices for Aurelle of Tampines.
PropNex CEO Ismail Gafoor stated that the average launch price of $1,766 psf has set a new benchmark in the EC market. He also added that the 90% take-up rate is the highest for a new EC project since the launch of Hundred Palms Residences in July 2017, which sold out at an average price of $841 psf.
Sim Lian also announced that the 30% quota allocated for second-timers was fully taken up by 3.15 pm on the launch day. This quota will be lifted a month from the launch date.
Eugene Lim, key executive officer at ERA Singapore, remarked that the take-up rate could have been higher without the quota limit on second-timers. However, he noted that the second-timers will have another opportunity to ballot for a unit a month after the launch date. Mark Yip, CEO of Huttons Asia, also suggested that the government may want to increase the quota for second-timers buying an EC, in line with the recent increase in the quota for second-timers buying larger BTO flats.
PropNex’s Gafoor added that around 68% of buyers opted for the Deferred Payment Scheme (DPS) to finance their purchases, while the rest chose the Normal Payment Scheme.
Prior to the launch, the project received more than 2,200 electronic applications (e-apps) since it opened for preview on February 21. It is the highest number of e-apps received since Copen Grand, the first EC launched in Tengah, attracted 2,300 e-apps in 2022.
Aurelle of Tampines is the second EC launched in Tampines North, following the neighbouring Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings. Launched in December 2022, Tenet saw a 72% take-up rate on launch day and has since been 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 spanning 840 sq ft.; $1.689 million ($1,651 psf) for a four-bedroom unit of 1,023 sq ft., and $2.258 million ($1,665 psf) for a five-bedroom unit of 1,356 sq ft.
ERA’s Lim noted that the project’s attractive pricing, strategic location, and unique features have made it a popular choice among eligible first-time buyers and upgraders.
When it comes to investing in a condo, securing financing is a crucial step. Fortunately, Singapore offers a variety of mortgage choices. However, investors must be well-informed about the Total Debt Servicing Ratio (TDSR) framework, which sets limits on the amount of loan a borrower can obtain based on their income and current debt commitments. To navigate this aspect of financing wisely, it is important to have an understanding of the TDSR and to seek guidance from financial advisors or mortgage brokers. This will enable investors to make sound decisions about financing their investments and avoid excessive leveraging. To explore more options, investors can check out Singapore Projects.
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 centre, and community club. ParkTown Residence, a joint venture between CapitaLand and UOL Group, sold 1,041 units on its launch weekend on February 22-23. To date, 1,043 units have been sold at an average price of $2,361 psf.
Huttons’ Yip pointed out that Aurelle is only the second EC to be located next to a fully integrated mixed-use development, after the 573-unit Esparina Residences in Sengkang, launched in October 2010 with an average price of around $748 psf. Based on caveats lodged, the average price of units sold from January 2024 to January 2025 is $1,625 psf, 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), the second-highest psf price achieved at the development. The highest price was for another 1,367 sq ft unit on the 14th floor, which sold for $2.4 million ($1,756 psf).
According to Lim, new ECs are priced approximately $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. He adds that the fresh 99-year lease and modern facilities make new ECs a compelling choice for buyers.