In March 2026, two developments in Tampines West launched a week apart, with both becoming best-selling new launches. Rivelle Tampines, an Executive Condominium (EC), boasted an average launch price of $1,893 psf, while private mixed-use development Pinery Residences launched a week later with an average launch price of $2,546 psf. The Rivelle Tampines average launch price was 25.6% lower than Pinery Residences, proving that ECs are still doing what they were intended to do when the first ECs were launched in 1999.
A Change In EC Policy After Over 30 Years
ECs in Singapore was first announced in 1995 as a unique product in Singapore’s housing landscape, meant to bridge the gap between public and private housing. ECs are strata-titled and developed and sold by private developers, with design features and facilities similar to those of private condominiums. Yet, they are priced at around 20 to 30 percent lower than comparable private condominiums due to initial eligibility and ownership restrictions.
Buyers must satisfy eligibility criteria similar to those for HDB flats, and ECs had a minimum occupation period (MOP) of 5 years, after which they could be resold to Singaporeans and PRs, and after 10 years, could be resold on the private market, including to foreigners.
After over 30 years, however, the EC policy has been reviewed due to two main factors: the proportion of first-time EC buyers and home occupation rates. The proportion of first-time EC buyers had dropped from about half in 2020 to between 30 and 40 percent in 2024 and 2025. During that period, about 75 percent of EC units were sold within 5 years of their MOP, up from 45 per cent over the preceding 5 years.
Read Also: New EC Rules In Singapore: What A 10-Year MOP Means For Future Executive Condo Buyers
The overarching factor in all of this is the rising cost of ECs, driven by higher land bids from developers in a competitive property market. URA statistics show that EC launch prices have almost doubled in just 5 years.
Data Source: URA
2021: Provence Residence ($1,142 psf); Parc Greenwich ($1,200 psf)
When the 413-unit EC in Canberra Crescent launched in May 2021, Provence Residence had a 53% take up rate and an average selling price of $1,142 psf. Average selling prices for the remaining units at Parc Central Residences (launched in January 2021) and Piermont Grand (launched in July 2020) were at $1,152 psf and $1,155 psf, respectively, around this time.
Back then, in the middle of the COVID these EC prices were seen as affordable for a new mass market condominium, especially one in the Outside Central Region (OCR) area.
Later that year, Parc Greenwich launched in September, with a 65% take up rate. The 492-unit EC in Seletar sold at an average price of $1,200 psf on launch weekend.
2022: North Gaia ($1,302 psf); Copen Grand ($1,300 psf); Tenet ($1,360 psf)
616-unit North Gaia at Yishun Close launched in April 2022 with a take up rate of 26.6% and an average selling price of $1,302 psf. This was higher than the average selling prices of the remaining units in other ECs.
Later that year, in October, Copen Grand in Tengah launched with a much more impressive take up rate of 73% and an average selling price of $1,300 psf. The 639-unit Copen Grand would go on to sell the remaining units above the $1,400 psf mark over the next six months.
The launch of Tenet in Tampines ended the year on a high note, selling 72.3% of its 618 units at launch, for an average selling price of $1,360 psf. Despite being situated in Tampines West, a relatively underdeveloped area at the point of sale, the high demand would foreshadow the popularity of future developments in the vicinity.
2023: Altura ($1,433 psf)
The only EC launch in 2023 was Altura in Bukit Batok West, which launched in August 2023. The 360-unit EC boasted a 61.1% take up rate on launch weekend, at an average selling price of $1,433 psf, no doubt due to the precedent set by units sold at nearby Copen Grand a few months prior.
Read Also: Complete First-Timers’ Guide To Buying A New Executive Condominium (EC) In Singapore
2024: Lumina Grand ($1,464 psf); Novo Place ($1,654 psf)
Lumina Grand, the first EC launch of 2024 in January, saw a 53% take up rate at an average selling price of $1,464 psf. The 512-unit Bukit Batok West EC demonstrated the strength of property demand in the area, which would also be seen in the other EC launch of the year.
Novo Place in Tengah marked the start of a sharp rise in EC prices in terms of psf that would continue for the next three EC launches. The 504-unit EC had a 57% take up rate at launch and saw an average selling price of $1,654 psf. In both of the 2024 launches, the 30% quota for second-timers at launch proved to be the only thing limiting a higher take-up rate.
2025: Aurelle of Tampines ($1,766 psf); Otto Place ($1,700 psf)
Up until this point, many of the EC launches were in parts of Singapore that generally saw lower property demand, such as Canberra and Bukit Batok. Aurelle of Tampines was the second EC launched in a densely populated town, and both the high launch prices and the take up rate were evidence. The 760-unit EC saw 90% units sold at launch weekend, with an average selling price of $1,766 psf.
This would be the best performance for an EC since Hundred Palms Residences in 2017, and would only be surpassed this year by another EC in Tampines, Rivelle Tampines.
Not to be outdone, however, Otto Place in Tengah, situated next to its sister development Novo Place, saw a 58.5% take up rate on launch day, at about $1,700 psf. The 600-unit EC followed the success of its next-door neighbour, which had sold almost all its units by this time.
2026: Rivelle Tampines ($1,893 psf)
Finally, the talk of the town, Rivelle Tampines set a new launch price record at $1,893 psf when sales began in March 2026. Despite this, it also made a dominating performance, with 92.5% of the 572 units sold at launch.
The demand should be less surprising than the price, as the high take up rates at nearby Tenet and Aurelle at Tampines had already demonstrated how much people expected the upcoming development of the Tampines West area to grow in the coming years.
Read Also: 4 Upcoming Executive Condominium (EC) Launches For 2026
