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Obtaining financing is a crucial factor when it comes to investing in a condo. In Singapore, there are various mortgage choices available, but it is imperative to stay informed about the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan that a borrower can take based on their income and current debt obligations. Familiarizing oneself with the TDSR and seeking guidance from financial advisors or mortgage brokers can assist investors in making well-informed decisions about their financing options and prevent excessive borrowing. Additionally, keeping an eye on New Condo Launches can provide valuable opportunities for investors in the condo market.
Sim Lian Group has announced that its latest executive condominium (EC) project, Aurelle of Tampines, will open for e-application on February 22nd. The 760-unit development is located at Tampines Street 62 in Tampines North and is the first new EC project launch for 2025.
Conveniently located just a five-minute walk from the upcoming Tampines North Transport Hub, the Aurelle of Tampines is perfectly situated for easy access to transportation. The hub will feature the Tampines North MRT Station, which is part of the Cross Island Line and is slated to open in 2030. It will also include an air-conditioned bus interchange, integrated with the mixed-use development, ParkTown Mall, which will also feature a Community Club, Hawker Centre, and ParkTown Residence. The 1,093-unit ParkTown Residence will also be officially launched for sale on February 22nd.
The Aurelle of Tampines project consists of fourteen 14-storey residential blocks spread across a site area of 301,391 sq ft. According to Sim Lian, the units are designed for young professionals and growing families, with a mix of three- to five-bedroom units.
The latest details on available units and prices for Aurelle of Tampines can be found on the project’s website. Prices start from $1.417 million ($1,687 psf) for a three-bedroom unit of 840 sq ft, $1.689 million ($1,651 psf) for a four-bedroom unit of 1,023 sq ft and $2.258 million ($1,665 psf) for a five-bedroom unit of 1,356 sq ft.
Next door to Aurelle of Tampines is the 618-unit Tenet EC, developed by Qingjian Realty and Santarli Realty. Launched in December 2022, the project has already sold 617 units at an average price of $1,385 psf. Based on recent transactions, the highest transacted price on a psf basis was a 1,367 sq ft unit that sold for $2.26 million or $1,651 psf in December 2022. As of February 21st, there is only one available unit for sale in Tenet.
E-application for Aurelle of Tampines will begin on February 22nd and end on March 4th. Sales bookings will commence on March 8th. The appointed marketing agents for the project are ERA, Huttons, OrangeTee, and PropNex.
Under current EC regulations, during the initial launch (the first 30 days), 70% of the project must be allocated to first-time buyers, with only 30% open to second-timers. For more information on available units in Aurelle of Tampines, Tenet, and Parktown Residence, visit the project’s website. You can also use EP Buddy and URA Realis to check out the latest transactions and price trends for new and resale condos, as well as the available units in Tenet.