Treasure at Tampines moved 272 units at $1,280 psf on average

Romesh Navaratnarajah25 Mar 2019

Treasure preview weekend crowd crop

A Sim Lian spokesman said the developer was heartened by sales to date for Treasure at Tampines, which is located in one of Singapore’s fastest growing regional centres. (Photo: Sim Lian)

Treasure at Tampines sold 272 units at an average price of $1,280 psf during its launch weekend – or 56 percent of the 490 units released, and 12 percent of all 2,203 units, reported the Business Times.

“We are heartened by sales to date for Treasure at Tampines, which is exceptionally well-located in one of Singapore’s fastest growing regional centres,” said a Sim Lian spokesman.

SEE ALSO: The complete guide to buying a new launch condo in Singapore

“It gives us the affirmation that projects with good location, great accessibility and competitive pricing will continue to be well-received.”

Considered “credible” by experts, the project’s performance is expected to be closely monitored by developers of upcoming mega launches such as Normanton Park and Amber Park.

“It’s a very credible take-up rate in this market sentiment owing to its market price being sensitively placed. There were a lot of HDB upgraders keen to pick up a unit at Treasure,” said PropNex CEO Ismail Gafoor.

ERA, PropNex and OrangeTee & Tie are the marketing agencies for Singapore’s biggest condo project.

“For any development that is well above 1,000 units, if the developer can sell anything above 10 percent to 15 percent (of the total number of units) it is considered as a credible performance after cooling measures,” noted Ismail.

ZACD Group executive director Nicholas Mak believes that Treasure at Tampines’ launch will influence home prices within the area this year and the following year.

The lesson for upcoming mega projects would be the importance of setting a competitive price.

“The price has to be reasonable relative to the location and product itself, and tenure,” explained Mak.

“What Sim Lian did for Treasure is the right strategy,” he added, while noting that the development is attractively priced, given that units at the project are $100 to $150 above executive condominium units.

Set to be completed in 2023, Treasure at Tampines sits on the former site of Tampines Court and  features 128 lifestyle and recreational amenities, such as 13 pools as well as a 24-hour indoor and outdoor gym.

The 99-year leasehold project offers one- to five-bedroom units with sizes ranging between 463 sq ft and 1,722 sq ft.

Its sales launch was brought forward after its preview saw almost 7,000 visitors.

Can you afford a condo in Singapore? Check your affordability now. Get more details on the property market outlook for 2019


Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email


You may also like these articles

Treasure at Tampines to launch at an average price of $1,280 psf

Artist's impression of Treasure at Tampines, an upcoming launch with 2,203 condo units.Singapore’s largest condominium to date, Treasure at Tampines, will open for preview this Friday (15 Mar), with

Continue Reading14 Mar 2019

Close to 7,000 people visited Treasure at Tampines showflat

The 2,203-unit Treasure at Tampines is touted as the biggest condominium to be launched in Singapore.Close to 7,000 visitors flocked to the showflat of Treasure at Tampines, which is touted as the big

Continue Reading18 Mar 2019