The newly launched Otto Place Executive Condominium (EC) in Tengah’s Plantation Close has made a significant impact on its first day of sales, with 351 out of 600 units sold. This represents approximately 59% of the total units available, with an average price of $1,700 per square foot. The project, launched on 19 July, follows the earlier release of Aurelle of Tampines EC in March 2025.
Unit prices at Otto Place range from $1.41m for a 3-bedroom deluxe to $2.18m for a 4-bedroom luxury plus study. PropNex CEO Kelvin Fong noted that about 75% of buyers opted for the Deferred Payment Scheme, making the purchase more accessible. Fong commented, “ECs remain a top favourite amongst homebuyers, owing to their relatively more affordable pricing compared with other new private condo projects.”
The popularity of ECs is underscored by the price difference between these and other private homes. In the first half of 2025, the median price for 99-year leasehold non-landed private homes was $2,343 psf, compared to $1,756 psf for new ECs. The second-timer buyer quota was quickly reached, indicating strong demand, and further sales are anticipated when bookings reopen for second-timers.
With only 18 unsold EC units in the market by the end of June 2025, and Otto Place likely being the last EC launch of the year, interest remains high. The project’s proximity to future MRT stations and the Jurong Lake District adds to its appeal, particularly for families and HDB upgraders.
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