The Property Market in Singapore: A Resilient Landscape with Strong Demand
Despite global uncertainties, Singapore’s property market remains robust, with developers continuing to achieve remarkable sales figures. Two recent launches, Lentor Central Residences and Aurelle of Tampines, have not only exceeded expectations but have also highlighted the unwavering demand for quality homes in desirable locations. These two developments illustrate that the property market is far from cooling, and in fact, it’s stronger than many may realize.
Lentor Central Residences: Setting New Sales Records
Lentor Central Residences, a new project by Hong Leong Holdings, GuocoLand, and CSC Land Group, made a significant impact during its launch weekend on March 8-9. With 477 units available, a staggering 93% were sold, amounting to 445 units. The prices of the units ranged from $1,982 to $2,573 psf, with an average price of $2,200 psf. The strong demand can be attributed to the strategic location of the development near Lentor MRT Station and the surrounding Lentor Hills precinct, which is an emerging residential area poised for further growth.
Among the sold units, three-bedroom and four-bedroom units emerged as the most popular choices, demonstrating the demand for family-sized homes. Approximately 90% of the buyers were Singaporeans, with a small percentage of foreign buyers and permanent residents. This trend reinforces the notion that local homebuyers are leading the charge in securing new homes. The development is particularly attractive to those seeking a combination of accessibility, convenience, and value for money.
According to Betsy Chng, Head of Sales and Marketing at Hong Leong Holdings, "The strong take-up reflects sustained interest from homebuyers who recognise Lentor as an emerging precinct." Additionally, the launch of Lentor Central Residences has further solidified the area as a prime residential destination within the Ang Mo Kio planning area, a region that continues to see the development of new properties.
The success of Lentor Central Residences is further underscored by the fact that it has surpassed the sales performance of other nearby projects. It is now considered the best-selling project in the Lentor Hills estate in terms of sales percentage during its launch weekend, even outpacing Lentor Modern, an integrated mixed-use development that sold 84% of its units on its launch weekend. The strong sales at Lentor Central Residences are seen as a reflection of the underlying market confidence, as buyers flock to well-priced developments with solid growth potential.
Source
EdgeProp
Aurelle of Tampines: The EC Market Surges Ahead
Sim Lian Group’s Aurelle of Tampines, an executive condominium (EC) development, achieved remarkable success during its launch, also on March 8. Of the 760 units available, 682 units, or 90%, were sold on launch day, with an average price of $1,766 psf. This is a significant accomplishment, especially in the EC market, which has seen increasing interest due to the affordability and value it offers in comparison to private condominiums.
Aurelle of Tampines is strategically located in Tampines North, within close proximity to the newly developed ParkTown integrated mixed-use development, which boasts an MRT station, shopping mall, hawker centre, and community club. This location has proven to be a major selling point, attracting both first-time buyers and upgraders seeking convenient living options in a well-connected area.
The strong sales can also be attributed to the fact that all four- and five-bedroom units were sold out, with 84% of the three-bedroom units also taken. This trend highlights the increasing demand for larger homes, particularly in areas with excellent public transport connectivity and proximity to amenities. According to Ismail Gafoor, CEO of PropNex, the $1,766 psf average price has set a new benchmark for EC launches, marking the highest take-up rate for an EC project since the 531-unit Hundred Palms Residences was fully sold out on launch day in July 2017.
Ahead of the launch, Sim Lian had already received more than 2,200 electronic applications (e-apps), the highest number since the launch of Copen Grand in 2022. This strong interest in Aurelle of Tampines reflects a growing appetite for new ECs, which offer a more affordable alternative to private condominiums, with the added benefit of modern facilities and a fresh 99-year lease. While the EC market may offer prices approximately $600 psf cheaper than private condos, new ECs have become increasingly competitive in terms of pricing and value for money.
Source
EdgeProp
The Strong Demand for Properties in Singapore
Both the Lentor Central Residences and Aurelle of Tampines projects underscore the ongoing strength of Singapore's property market. These sales figures demonstrate that demand for new properties remains high, particularly for well-located homes with attractive pricing. Whether it's the appeal of Lentor’s emerging status or the strategic location of Aurelle next to an integrated development, these projects are tapping into the desires of homebuyers who are eager for quality homes at competitive prices.
The demand is further supported by factors such as Singapore's strong economic fundamentals, low-interest rates, and the continuing appeal of properties in well-connected precincts. Experts believe that these factors will continue to drive market confidence in the coming months, despite global challenges.
As highlighted by industry experts such as Mark Yip from Huttons Asia, the market remains resilient with relatively stable prices and sustained demand. These developments also highlight the growing interest in Outside Central Region (OCR) properties, with buyers seeking value for money and the potential for long-term capital appreciation.
Summary Highlights
✅ Lentor Central Residences achieved 93% sales, with prices averaging $2,200 psf.
✅ Aurelle of Tampines EC sold 90% of units at an average price of $1,766 psf.
✅ Both developments showcased strong demand, with a focus on family-sized units (three- and four-bedroom).
✅ Proximity to key amenities and excellent connectivity are driving factors behind strong sales.
✅ Singapore’s property market remains resilient, with pricing remaining stable and interest continuing to rise in emerging precincts and ECs.
Take Action Now!
With the property market in Singapore continuing to thrive and demand for well-located, reasonably priced properties on the rise, now is the time to make your move. Don’t miss out on opportunities in these hot new developments—contact me today to secure your dream home!