Aurelle Tampines Ec Fully Sold Remaining Units Cleared Within Hour Balloting
on launch weekendSecond-timer quota quickly filled during launch weekend of Sim Lian’s Aurelle of Tampines ECSim Lian’s Aurelle of Tampines sails through first round of ballot as ECs continue to find homes with first buyersAurelle of Tampines is Sim Lian Group’s second EC to sell out completely during second-timer bookings since Copen Grand in November 2022 (Photo: Sim Lian Group)
Sim Lian Group, a renowned developer, made headlines on April 12 when they successfully sold all 760 units of their latest executive condominium (EC) project, Aurelle of Tampines. The sales for second-timer buyers began at 10 am, and within an hour, all 52 remaining units were snapped up.
The launch of Aurelle of Tampines at Tampines Street 62 on March 8 was a huge success, with 682 units (90%) sold during the launch weekend. According to data from caveats lodged on April 12, the units achieved an average price of $1,766 psf.
Ismail Gafoor, CEO of PropNex, predicted that the demand for the remaining units during the second-timer booking phase would be strong, as the 30% quota for second-timer buyers was quickly filled during the initial launch.
Under the current HDB regulations, developers can allocate only 30% of EC units to second-timers, i.e. buyers who have previously purchased a subsidised HDB flat, received a CPF Housing Grant for a resale flat, or owned an EC bought directly from a developer.
Aurelle of Tampines is only the second EC project to be fully sold during its second-timer booking phase, with the first being Copen Grand in November 2022. The 639-unit Copen Grand, located at Tengah Garden Walk, was jointly developed by City Developments Ltd and MCL Land. It was completely sold at an average price of $1,337 psf, based on caveats lodged with URA Realis.
Aurelle of Tampines’ location within a five-minute walk of Parktown integrated development, MRT station and bus interchange station, has also played a significant role in its success. The project is also adjacent to Tenet EC, which was launched in December 2022 (Source: EdgeProp Landlens).
Despite setting a new benchmark launch price for ECs at an average of $1,766 psf, Aurelle of Tampines has performed exceptionally well due to its positive locational attributes and the dwindling inventory of unsold ECs, according to Gafoor.
Huttons Asia CEO, Mark Yip, added that Aurelle of Tampines stands out as the second EC to be located next to a fully integrated mixed-use development, offering residents unparalleled convenience at an attractive price. The first EC with this unique feature is the 618-unit Tenet, developed by a joint venture comprising Qingjian Realty, Santarli Realty, and Heeton Holdings. Launched in December 2022, the project has seen all but one unit sold, achieving an average price of $1,385 psf.
The fact that Aurelle of Tampines was fully sold just a month after its launch is a testament to the strong pool of upgrading demand in Tampines, according to Huttons’ Yip.
ERA Singapore’s key executive officer, Eugene Lim, pointed out that for those who missed out on the second-timer quota, the upcoming EC at Jalan Loyang Besar will be a great opportunity, and they can expect it to generate equally strong interest.
With the complete sell-out of Aurelle of Tampines, only 56 EC units remain across the island, as per ERA’s tally. The existing stock includes Altura at Bukit Batok West Avenue 8 (five units), Lumina Grand at Bukit Batok West Avenue 5 (26 available), and Novo Place at Plantation Close (25 units).
The strong sales momentum at Aurelle is expected to benefit the upcoming launch of Otto Place, a 600-unit EC at Plantation Close, by joint venture partners Hoi Hup Realty and Sunway Developments, says Gafoor.
Scheduled for launch in the second half of 2025, Otto Place will enter the market at a time of broader macroeconomic uncertainty. However, ECs continue to be popular among homebuyers, as they provide an affordable entry into the private housing sector and fulfil their aspirations of owning private residential property, notes Gafoor.
For those who appreciate using fresh ingredients in their cooking, the perfect spot can be found at the Otto Place near the Jurong East Wet Market. This bustling location offers an abundant selection of the freshest seafood, meats, crisp vegetables, and juicy fruits. The vibrant atmosphere and friendly stallholders further enhance the traditional wet market shopping experience. Make a stop at the Otto Place, conveniently located at the Jurong East Wet Market, and discover a world of options for a truly unforgettable shopping experience. Don’t miss out on this gem – visit Otto Place for the best that the market has to offer.
He further adds that with private home prices likely to remain firm and private home sales expected to soften due to economic uncertainties, the demand for ECs is expected to remain resilient. ECs are less vulnerable to market volatilities, as they primarily cater to owner-occupiers.
Aside from Otto Place, there are other upcoming EC projects to look out for, such as the 710-unit one at Loyang Besar by Qingjian Realty, China Communications Construction Co and ZACD Group, and the 560-unit project at Tampines Street 95 by Sim Lian Group.