Rivelle Tampines EC sells over 90% of units at launch

SINGAPORE – Sim Lian’s Rivelle Tampines executive condominium (EC) sold 529 units – roughly 93 per cent of its 572 apartments – on its launch day on March 21 at an average price of $1,893 per square foot (psf).

In a press release on March 22, the developer said it sold all 241 three-bedroom units, along with 87 per cent of the 291 four-bedders, and 85 per cent of the 40 five-bedroom units. 

This makes Rivelle the best-selling EC launch since Hundred Palms Residences in Yio Chu Kang was put on the market in July 2017, with all 531 of its units sold on the first day, said Mogul.sg chief research officer Nicholas Mak. 

Demand came from a mix of buyers, with a “notable proportion” of young professionals and public housing upgraders, said Sim Lian. 

The 30 per cent quota set aside for second-time home buyers was fully taken up by 2.15pm on March 21, it noted, pointing to strong upgrader demand in the area. 

Huttons Asia chief executive Mark Yip said this was underpinned by a pool of almost 1,500 Housing Board flat owners in the area who have met their five-year minimum occupation period and were eligible to upgrade.

Mr Justin Quek, deputy group CEO of Realion (OrangeTee & ETC), said that resilient resale prices of “younger” four and five-room flats that are under 20 years old in nearby towns such as Bedok and Tampines also supported upgrader demand. 

In 2025, the median prices of such flats were $860,000 for four-room units and $1.03 million for five-room flats in Bedok. In Tampines, the respective median prices were $770,000 and $915,000.

The overall price quantum of Rivelle’s units was “within the sweet spot” for these upgraders, enabling them to purchase a unit, said Mr Quek. 

Mr Yip believes that the second round of balloting for the EC, which is a month later, may see all the remaining units sold.

The Government could therefore consider increasing the allocation to second-timers from 30 per cent to 40 per cent, he added. “With an estimated eight EC projects in the pipeline, there will be ample supply for buyers even if this policy is relaxed.” 

Last in the east

PropNex CEO Kelvin Fong noted that new EC projects in Tampines have typically performed well due to the area’s accessibility and amenities as a regional centre.

For instance, Aurelle of Tampines sold 90 per cent of its 760 apartments at an average price of $1,766 psf when it was launched in March 2025. The adjacent Tenet EC moved 72 per cent of its 618 units when it was marketed at $1,360 psf on average in December 2022.

Additionally, Mr Yip pointed out that Rivelle is likely the last EC launch in the area in 2026, and possibly the last in the east in 2026 and 2027. 

The next three EC launches scheduled for 2026 are in Singapore’s north and west, said ERA Singapore key executive officer Eugene Lim. “In this context, the strong buyer interest in Rivelle is hardly surprising,” he said. 

Mr Mak also noted that Rivelle is just across the road from Hoi Hup and Sunway MCL’s Pinery Residences condominium, which is set to launch next weekend at prices starting from $2,340 psf. 

Although the two projects are different housing types, he said they compete for a similar pool of HDB upgraders. Rivelle’s earlier launch gives Sim Lian a “first-mover advantage”, he added.

The project’s buyers will also enjoy “similar benefits” as those of Pinery Residences while paying EC prices, such as the proximity to Pinery Mall, he said.

Located in Tampines Street 95, Rivelle spans a site area of 242,068 sq ft with a gross plot ratio of 2.5. In 2024, Sim Lian placed the top bid at $465 million, or $768 psf per plot ratio, for the site, beating four other offers. 

The 99-year leasehold development comprises 11 blocks of 12 to 14 storeys. The three-bedroom units range from 883 to 926 sq ft in size; the four-bedders span 1,044 to 1,184 sq ft; and the five-bedders are 1,378 sq ft. 

It is expected to assume vacant possession by June 30, 2030. THE BUSINESS TIMES