Springleaf Residence Sells 92% of Units at Launch, Averaging S$2,175 PSF
Springleaf Residence, a joint development by GuocoLand and Hong Leong Holdings, has seen a strong response on its launch weekend—moving 870 out of 941 units, or 92% of the entire project. The average price achieved was S$2,175 per square foot (psf).
Attractive Pricing vs Suburban & EC Projects
Prices started from S$878,000 for a one-bedroom unit, with the majority of units priced under S$2.5 million. According to PropNex CEO Kelvin Fong, this pricing strategy made the project accessible to a wide base of home buyers.
Springleaf’s average pricing is also competitive. In comparison:
- New suburban non-landed private homes average S$2,320 psf
- New EC projects average S$1,750 psf
Unit Breakdown & Starting Prices
- 1-Bedroom (388 sq ft): from S$878,000 or S$2,263 psf
- 2-Bedroom (527 – 646 sq ft): from S$1.08M or S$2,046 psf (35.3% of units)
- 3-Bedroom (786 – 1,076 sq ft): from S$1.62M or S$2,058 psf (39.1% of units)
- 4-Bedroom (1,227 sq ft): from ~S$2.45M or S$1,995 psf
- 5-Bedroom (1,453 – 1,475 sq ft): from S$3.02M or S$2,077 psf
Project Details
Springleaf Residence is a 99-year leasehold project located in District 26. It sits less than 2 minutes from Springleaf MRT on the Thomson-East Coast Line. The project consists of:
- 909 units (2- to 5-bedders) across five 25-storey towers
- 32 units (1- to 3-bedders) in a conserved 4-storey block
Profile of Buyers
The launch attracted mostly Singaporeans and Permanent Residents, including:
- Young couples
- Singles
- Families
- Multi-generational households
Strong Market Response in Context
Springleaf Residence is the second best-selling project of 2025 so far, following Parktown Residence, which sold 1,041 units at an average of S$2,360 psf.
Other recent launches include:
- River Green
- Promenade Peak
- Canberra Crescent Residences
In total, over 1,800 new units have been sold in August, making it potentially the strongest month for new home sales since November 2024.
Developer Pipeline and Land Bid
GuocoLand and Hong Leong bought the Springleaf site in April 2024 for S$779.6 million (S$905 psf ppr).
They now have a strong foothold in District 26. GuocoLand also leads in the Lentor Collection, where it has launched Lentor Mansion, Lentor Modern, and Lentor Hills Residences, among others.
Upcoming Opportunities
Following this success, attention turns to the Upper Thomson Road Parcel A GLS site. This adjacent site is expected to yield:
- ~595 residential units
- ~2,000 sq m of commercial space
- Direct MRT access via Springleaf station
Its previous tender in June 2024 drew no bids due to a serviced apartment requirement. That condition has since been removed.
Conclusion
Springleaf Residence has proven that buyers are still ready to enter the market—if the product is well located, reasonably priced, and offers long-term growth potential. This marks a significant milestone for the Upper Thomson area and could drive more developer interest in the region.
