Nearly 60% of Otto Place units sold on launch day

It was highlighted that executive condos remain a top favourite amongst homebuyers. 

Otto Place EC in Plantation Close in Tengah sold 351 units on its launch day, accounting for 59% of its total 600 units.

The units were offered at an average price of $1,700 per square foot. Units ranged from 3-bedroom deluxe unit types to 4-bedroom luxury plus study unit types. 

It was the second executive condo (EC) project launched in 2025, following the Aurelle of Tampines EC that was made available in March. 

Kelvin Fong, CEO of PropNex, said that it is clear that ECs remain a top favourite amongst homebuyers, owing to their relatively more affordable pricing compared with other new private condo projects. 

“The very limited stock of unsold new ECs in the market and few competing options have helped to support sales at Otto Place,” Fong said. 

“Otto Place is also likely the last EC project to be launched in 2025, thereby fueling interest among buyers. With the private housing aspirations among households still strong, EC projects will continue to be one of the most accessible private homes for first-timer homebuyers and HDB upgraders,” Fong added.

Mark Yip, CEO of Huttons Asia, said that there was high interest amongst buyers to stay in Tengah. 

Huttons highlighted that first-time buyers made up 48.4% whilst second-time buyers accounted for 51.6%. There was a 30% quota for second timers, which limited units set aside for them to only 180. It was sold out very early. 

Though eligible second timers can purchase a unit from 19 August, Yip said, “the government should consider increasing the quota to 50% to help the sandwiched class who want to upgrade to an EC.”

Otto Place EC is relatively well-located near two upcoming MRT stations on the future Jurong Region Line. It is also close to the Jurong Lake District (JLD), earmarked as the largest mixed-use business district outside of the city.