for projects in Punggol and TampinesThe latest edition of the EdgeProp Singapore Property Market Outlook 2024 features Aurelle of Tampines as one of the hottest properties to look out for in the coming year.
On Mar 8, property developer Sim Lian Group successfully sold 682 out of 760 units (90%) 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 the four- and five-bedroom units were sold, while 84% of the three-bedroom units were also snapped up.
Executive director of Sim Lian Group Limited, Kuik Sing Beng, commented that the high demand for Aurelle of Tampines reflects the appeal of well-designed and conveniently located modern homes in the well-connected regional centre of Singapore.
For the latest updates on available units and prices at Aurelle of Tampines, please refer to the advertisement.
CEO of PropNex, Ismail Gafoor, noted that the average price achieved for Aurelle of Tampines has set a new benchmark for EC launches. He added that the 90% take-up rate was the highest for a new EC project since July 2017 when the 531-unit Hundred Palms Residences was fully sold on its launch day at an average price of $841 psf.
Sim Lian Group also revealed that the 30% quota allocated for second-timers was reached by 3.15 pm on the launch day itself. This quota will be lifted a month from the launch date.
Real estate agency ERA Singapore’s key executive officer, Eugene Lim, believes that the take-up rate could have been even higher without the quota limit on second-timers. However, he added that the second-timers will have another chance to ballot for a unit a month after the launch date.
Mark Yip, CEO of Huttons Asia, suggested that the government may consider increasing the quota for second-timers buying an EC, to match the recent increase in allocation quota for second-timers purchasing three-room and larger BTO flats.
Gafoor from PropNex also mentioned that about 68% of buyers opted for the Deferred Payment Scheme (DPS) to finance their purchase of Aurelle of Tampines, while the remaining 32% chose the Normal Payment Scheme.
Prior to the launch, over 2,200 electronic applications (e-apps) were received after the project was open for preview on Feb 21. This is the highest e-app figure since the launch of Copen Grand, the first EC in Tengah, which received 2,300 e-apps in 2022.
Read also: Are ECs still a good buy?
Aurelle of Tampines is the second EC launched in Tampines North, following the neighbouring Tenet with 618 units, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings. Launched in December 2022, Tenet saw 72% of units sold on the launch day and is now fully sold at an average price of $1,348 psf.
Prices of units 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 covering 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom unit of 1,356 sq ft.
According to Lim from ERA, the attractive pricing, strategic location and unique features of the project have made it a highly sought-after option for eligible first-time buyers and upgraders.
The strong sales at Aurelle of Tampines could also be attributed to its proximity to ParkTown, a fully integrated mixed-use development with a transport hub (MRT station and bus interchange), a shopping mall, hawker centre, and community club.
On its launch weekend on Feb 22-23, ParkTown Residence, with 1,193 units, sold 1,041 units. To date, 1,043 units have been sold at an average price of $2,361 psf.
According to Yip from Huttons, Aurelle is only the second EC located next to a fully integrated mixed-use development. 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 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 project. The highest was for another 1,367 sq ft unit on the 14th floor that was sold for $2.4 million ($1,756 psf).
According to The Edge Property’s Landlens, Sim Lian’s Aurelle of Tampines is expected to set a new benchmark for the price of executive condominiums.
For potential buyers, new ECs are usually priced about $600 psf lower than new private condos in 2025, as observed by Lim from ERA. However, when 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,” he added.
If you are interested in finding out more about properties at Aurelle of Tampines, please refer to the latest listings. You may also use Buddy to get price trend comparisons between new and resale condos, as well as generate graphs for new launch condos in District 18.
The latest edition of the EdgeProp Singapore Property Market Outlook 2024 has also featured Aurelle of Tampines as one of the hottest properties to look out for in the coming year.