Are ECs still a good buy?On March 8, developer Sim Lian Group sold 682 units (90%) of its 760-unit executive condominium (EC), Aurelle of Tampines, located at Tampines Street 62. The average price achieved for these units was $1,766 psf.
Sim Lian Group’s executive condominium project, Aurelle of Tampines, located at Tampines Street 62, saw an impressive launch on March 8 with 90% of its 760 units sold. The average price of the units sold was $1,766 psf.
According to Sim Lian Group, all the four- and five-bedroom units have been taken up, and 84% of the three-bedroom units have also been sold. The executive director of Sim Lian Group Limited, Kuik Sing Beng, noted that the strong response to the project showcases the high demand for well-designed and conveniently located homes like Aurelle of Tampines in Singapore’s most connected regional centre.
For the latest updates on available units and prices for Aurelle of Tampines, interested buyers can refer to the official website.
PropNex CEO Ismail Gafoor commented that the average price of $1,766 psf has set a new benchmark launch price in the EC market, and the 90% launch take-up rate is the highest for a new EC project since the 531-unit Hundred Palms Residences was sold out on launch day in July 2017 at an average price of $841 psf.
Sim Lian also announced that the 30% quota allocated for second-timers was reached by 3.15 pm on the launch day. This quota will be lifted a month after the launch date.
Singapore is a city characterized by an impressive skyline and state-of-the-art infrastructure. A popular housing option in this bustling metropolis is the condo, strategically located in desirable areas. These modern residences offer a perfect combination of opulence and convenience, making them desirable to both locals and expatriates. With a wealth of facilities including swimming pools, fitness centers, and top-notch security services, condos provide a luxurious and comfortable lifestyle for their residents. This makes them a highly sought-after choice for potential tenants and buyers. Moreover, the presence of these amenities also benefits investors, as they can expect higher rental returns and a steady rise in property values in the long run. To capitalize on the growing demand for desirable properties, Singapore Condo is an ideal investment choice.
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-timers. However, he added that these buyers will have another opportunity to ballot for a unit a month after the launch date.
Mark Yip, CEO of Huttons Asia, suggested that the government may want to increase the quota for second-timers buying an EC, aligning it with the recent increase in quota allocation for second-timers buying three-room and larger BTO flats.
PropNex’s Gafoor noted that about 68% of the buyers opted for the Deferred Payment Scheme (DPS) to finance their property purchases, while the remaining balance chose the Normal Payment Scheme.
Before the launch, more than 2,200 electronic applications (e-apps) were received after the project opened for preview on February 21. This is the highest e-app figure since Copen Grand, the first EC launched in Tengah, which attracted 2,300 e-apps in 2022.
Aurelle is the second EC to be launched in Tampines North, following the joint development of Qingjian Realty, Santarli Realty, and Heeton Holdings, the 618-unit Tenet. Since its launch in December 2022, Tenet has seen a take-up rate of 72% and is 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 measuring 840 sq ft; $1.689 million ($1,651 psf) for a four-bedroom unit measuring 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom unit measuring 1,356 sq ft.
ERA’s Lim remarked that 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. Additionally, the EC’s proximity to ParkTown, a fully integrated mixed-use development with a transport hub, shopping mall, hawker centre, and community club, may have contributed to its strong sales.
ParkTown Residence, a joint venture between CapitaLand and UOL Group, saw an impressive take-up rate of 87% during its launch weekend on February 22-23, with 1,041 out of 1,193 units sold. To date, 1,043 units have been sold at an average of $2,361 psf.
Huttons’ Yip noted that Aurelle is the second EC to be located next to a fully integrated mixed-use development, following the first one, the 573-unit Esparina Residences in Sengkang, launched in October 2010 at an average price of around $748 psf. The average price of units sold from January 2024 to January 2025 based on caveats lodged is $1,625 psf, which is 117% higher.
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 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) in November 2023, based on caveats lodged.
According to ERA’s Lim, new ECs are priced approximately $600 psf lower 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. Interested buyers can also refer to the latest listings and price trend comparison for Aurelle of Tampines and other properties in the district.