Otto Place Executive Condominium (EC) experienced a robust response during its second-timer booking event, with 166 units sold, bringing the total to 547 out of 600 units since its initial launch in July. The project, located in Tengah, Singapore, has now reached a 91% take-up rate.
PropNex CEO Kelvin Fong attributed the strong sales to the project’s favourable location, limited inventory of unsold ECs, and awareness of rising land costs for future EC developments.
Situated near the upcoming Tengah Park and Bukit Batok West MRT stations, Otto Place EC benefits from its proximity to key transport links and amenities. The area is also close to Jurong Lake District, set to become the largest mixed-use business district outside the city, and several schools, making it attractive to families. The EC’s appeal is further enhanced by its accessibility to HDB upgraders from nearby Jurong East and Bukit Batok estates.
The average unit price for Otto Place EC, based on sales before the second-timer booking, was approximately $1,750 per square foot. This includes transactions under the Deferred Payment Scheme, which typically carry a slight premium. With fewer than 60 unsold EC units remaining, the demand for such properties remains high, offering a more affordable entry into the private residential market.
Looking ahead, the next EC launch is anticipated in 2026 at Jalan Loyang Besar, with land acquisition costs indicating firm future pricing. A recent tender for an EC plot in Woodlands Drive 17 set a new record land rate, suggesting continued strong interest and stable pricing in the EC market.
“`
