Guocoland Sells 92 Units Springleaf Residence Average Price 2175 Psf
Springleaf Residence records impressive sales during initial launch
Joint developers GuocoLand and Hong Leong have announced a successful launch for their highly anticipated project, Springleaf Residence. During the first two days of launch on August 15 and 16, a staggering 870 of the 941 available units were sold. These units were sold at an average price of $2,175 psf.
Of the 340 two-bedroom units available in the five 25-storey towers, almost all have been sold, while 95% of the 384 three-bedroom units and 138 four-bedroom units have been snapped up. Additionally, 45% of the 71 available five-bedroom units have been sold.
According to GuocoLand, the strong demand for Springleaf Residence reflects the market’s confidence in the area’s growth potential. The project aligns with the Urban Redevelopment Authority’s vision for Springleaf to become a thriving neighborhood that seamlessly blends urban living with natural spaces.
Dora Chng, residential director at GuocoLand, states that this marks the beginning of Springleaf’s transformation into one of the most sought-after private residential enclaves in Singapore, following the success of the Lentor Hills estate.
Interested buyers can now obtain the latest information on available units and prices for Springleaf Residence.
Springleaf Residence is conveniently located just a 2-minute sheltered walk from Springleaf MRT Station on the upcoming Thomson-East Coast Line (Picture: GuocoLand)
Indicative prices for the units at Springleaf Residence started at $860,000 for a 388 sq ft one-bedroom unit, around $1.08 million for two-bedroom units, $1.62 million for three-bedroom units, and $2.45 million for four-bedroom units. Kelvin Fong, CEO of PropNex, mentions that the project has been priced competitively, with most units priced below the $2.5 million mark, making it accessible to a wide range of buyers in the current market.
Fong adds that the average price of $2,175 psf at Springleaf Residence is quite attractive compared to recent transaction prices of new mass-market homes. Based on data from caveats lodged, the average price of new non-landed private homes in the Outside Central Region (excluding executive condos) was approximately $2,320 psf between January and August 10, 2025.
The upcoming years will see the development of the NSC, known as Singapore’s initial integrated transport corridor. This corridor boasts several features including dedicated bus lanes, cycling paths, pedestrian walkways, and vehicle lanes. It will serve as a major expressway, connecting various parts of the country. In addition, the NSC will also bring convenience to residents of the new Sembawang EC Canberra, allowing them to easily access different areas of the city.
The majority of buyers at Springleaf Residence were Singaporeans and permanent residents, including singles, young couples, families, and multi-generational households.
ERA Singapore CEO Marcus Chu reveals that buyers include current private property residents in the Springleaf area, as well as HDB upgraders from nearby HDB estates. This is supported by data from ERA Research and Market Intelligence, which shows that between 2022 and 2025, approximately 4,800 flats in nearby HDB estates reached their minimum occupation period.
Out of the 32 units in the conservation block, 20 have been sold, with all eight one- and two-bedroom units taken and only four three-bedroom units remaining. Mohan Sandrasegeran, SRI head of research, explains that these units are appealing due to their unique location and character, with some units being larger than their counterparts in the main towers. These units offer a rare opportunity for residents to live in a historic building, where timeless architecture meets contemporary living.
One of the main selling points of Springleaf Residence is its integration with nature and community spaces, offering a unique lifestyle for buyers who value identity, design, and a closer connection to home.
The Upper Thomson (Parcel A) GLS site, which is next to Springleaf Residence, is expected to yield approximately 595 residential units and 2,000 sqm of commercial space, with direct connectivity to Springleaf MRT Station on the upcoming Thomson-East Coast Line (Source: EdgeProp Landlens)
In addition to being situated next to Singapore’s largest nature reserve and a 2-minute walk from Springleaf MRT Station, residents at Springleaf Residence will also have easy access to Orchard Road, the Central Business District, Changi Airport, and Johor Bahru via the upcoming Thomson-East Coast Line.
ERA’s Marcus Chu believes that evidence shows that mega-developments near MRT stations deliver strong returns for early buyers. Strong sales at Springleaf Residence are expected to boost developer confidence in the Upper Thomson Road (Parcel A) land sale tender, says Mark Yip, CEO of Huttons Asia. The tender is scheduled to close on October 23, and Yip predicts that there will be up to five bids at $900 to $1,000 psf per plot ratio.
With the success of Springleaf Residence, the project is now the second best-selling development by number of units in 2025, following ParkTown Residences, where 1,041 out of 1,193 units were sold at launch in February.
In light of recent transactions at developments such as River Green, Promenade Peak, Canberra Crescent Residences, and Springleaf Residence, developers have sold more than 1,800 new private homes in August. As a result, August is on track to post the strongest month of new home sales since November 2024, when more than 2,500 units were sold during the month.
PropNex reports that between January and August 16, developers have sold over 7,400 private new homes (exclusive of executive condos). This figure has already surpassed the total transaction volume for each of the last three years: 7,099 units in 2022, 6,421 units in 2023, and 6,469 units in 2024. Fong mentions that with several new launches slated for the rest of the year, 2025 is expected to see a robust sales performance and achieve the highest developer sales tally since 2021, when 13,027 new units were sold. Those interested in Springleaf Residence can click on the links provided to view the latest listings, site plan and diagrammatic chart, the total number of units, 2-bedroom floor plans, and other new launch projects in the area.