Aurelle Tampines Ec Fully Sold Remaining Units Cleared Within Hour Balloting

• Developer Sim Lian Group has successfully sold all 760 units at its executive condominium (EC), Aurelle of Tampines, in less than a month• The project was launched on March 8, with 682 units sold during the launch weekend• The remaining 52 units were snapped up by second-timer buyers within just an hour of sales launch• Based on caveats lodged as at April 12, the units achieved an impressive average price of $1,766 psf• The demand for Aurelle was expected, as 90% of the units had already been sold during the initial launch weekend• According to the CEO of PropNex, the strong demand at the subsequent sales booking can be attributed to the project’s excellent location and the dwindling inventory of unsold ECs• Aurelle of Tampines is the second executive condominium project to be fully sold during its second-timer booking phase, following Copen Grand in November 2022• The project is located within a five-minute walk of a fully integrated mixed-use development with an MRT station and bus interchange station, making it extremely convenient for residents• Despite setting a new benchmark launch price for ECs at $1,766 psf, Aurelle of Tampines continues to perform well due to its positive locational attributes• The project 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 to be located next to a fully integrated mixed-use development is the 618-unit Tenet, which was launched in December 2022 and has since achieved an average price of $1,385 psf• The speedy sell-out of Aurelle of Tampines is a reflection of the strong upgrading demand in Tampines• For those who missed out on this project, the next opportunity to purchase an EC will be at Jalan Loyang Besar, which is expected to generate equally strong interest• With only 56 EC units remaining across the island, it is expected that the upcoming launch of Otto Place, a 600-unit EC at Plantation Close, will also be met with high demand• The demand for ECs is expected to remain resilient, as they offer an accessible entry into the private housing sector and are primarily driven by owner-occupiers who are less affected by market volatilities• Other upcoming EC projects include a 710-unit development at Loyang Besar and a 560-unit project at Tampines Street 95.

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