for mass-market condosSim Lian Group sells 90% of its executive condo, Aurelle of Tampines, on launch day
On March 8, developer Sim Lian Group reported that 682 units, or 90%, of its 760-unit executive condominium (EC), Aurelle of Tampines, located at Tampines Street 62, had been sold. 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, and 84% of the three-bedroom units were taken up as well. “This strong response demonstrates the demand for well-designed, well-connected homes in a prime location like Aurelle of Tampines,” commented Kuik Sing Beng, executive director of Sim Lian Group Limited.
Interested buyers can find the latest updates on available units and prices for Aurelle of Tampines.
PropNex CEO Ismail Gafoor noted that the average price of $1,766 psf has set a new benchmark launch price in the EC market. He also pointed out that the launch take-up rate of 90% is the highest since the 531-unit Hundred Palms Residences was completely sold out on its launch day in July 2017, at an average price of $841 psf.
Sim Lian also revealed that the 30% quota allocated for second-timers was filled by 3.15 pm on the launch day. This quota will be lifted one month after the launch date.
“The take-up rate could have been even higher if there was no quota limit for second-timers,” remarked Eugene Lim, key executive officer at ERA Singapore. He also noted that second-timers will have another opportunity to ballot for a unit one month after the launch.
“The government could potentially increase the quota for second-timers purchasing an EC, in line with the recent increase in the quota for second-timers buying three-room and larger BTO [build-to-order] flats,” added Mark Yip, CEO of Huttons Asia.
PropNex’s Gafoor also mentioned that about 68% of buyers opted for the Deferred Payment Scheme (DPS) to finance their purchases, while the remaining chose the Normal Payment Scheme.
Prior to the launch, over 2,200 electronic applications (e-apps) had been submitted since the project preview opened on February 21. This is the highest number of e-apps recorded since Copen Grand, the first EC launched in Tengah, received 2,300 e-apps in 2022.
For more information, read: Are ECs still a good buy?
Aurelle is the second EC to be launched in Tampines North, following the neighbouring 618-unit Tenet, a joint development by Qingjian Realty, Santarli Realty, and Heeton Holdings. Tenet, launched in December 2022, saw 72% of units sold on the launch day and is now fully sold at an average price of $1,348 psf.
Prices for units at Aurelle of Tampines start from $1.417 million ($1,687 psf) for a three-bedroom unit from 840 sq ft; $1.689 million ($1,651 psf) for a four-bedroom from 1,023 sq ft; and $2.258 million ($1,665 psf) for a five-bedroom of 1,356 sq ft.
“The attractive pricing, strategic location, and unique features of the project have made it a highly sought-after choice for eligible first-time buyers and upgraders,” said ERA’s Lim.
The strong sales at Aurelle 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.
ParkTown Residence, by 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 of $2,361 psf.
“Aurelle is possibly the second EC to be located next to a fully integrated mixed-use development,” said Huttons’ Yip. The first was the 573-unit Esparina Residences in Sengkang, which was launched in October 2010 with an average price of around $748 psf. Based on caveats lodged, units at Esparina Residences have been sold for an average price of $1,625 psf between January 2024 and January 2025, 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 development. 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, according to caveats lodged.
To compare prices, read: Sim Lian’s Aurelle of Tampines to set new price benchmark for executive condos
According to ERA’s Lim, new ECs are priced around $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. “This, along with a fresh 99-year lease and modern facilities, makes new ECs an attractive option for buyers,” he added.
Interested buyers can also find listings for Aurelle of Tampines properties, and compare the price trend of new launch condos versus resale condos. You can also find the number of units available at Aurelle and compare the price trend of new sale condos versus new sale ECs.
For more options, you can also check out condo listings in District 18 and generate a price trend graph for new launch condos in District 18.
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