Springleaf Residence has made headlines this August, being one of the strongest launches of the year. The project, developed by GuocoLand and Hong Leong Holdings, sold 870 out of 941 units (92%) during its opening weekend. Units moved at an average of S$2,175 per square foot (psf), with prices starting from S$860,000 for a compact 1-bedder.
This result makes Springleaf Residence the second-best-selling launch of 2025 in terms of units sold, just behind Parktown Residence in Tampines, which sold 1,041 units at an average of S$2,360 psf in February. Beyond the numbers, Springleaf Residence reveals a lot about what today’s homebuyers value, and how demand has shifted in Singapore’s property market.
Table of contents
- Springleaf Residence launch sales breakdown
- Competitive new launch pricing
- Who are the buyers?
- 5 reasons why the market responded strongly
- Pricing stood out as the most important factor
- The project’s positioning gave it an edge over other recent launches
- Limited supply in Springleaf created urgency among buyers
- Strong upgrader demand also played a role
- GuocoLand’s reputation helped instill confidence
- New private home sales in Q3 2025 so far
- Developer sales outlook in 2025
Springleaf Residence launch sales breakdown
Springleaf Residence comprises five 25-storey towers with 909 units ranging from 2- to 5-bedroom apartments, plus 32 units in a conserved four-storey building that once housed the former Upper Thomson Secondary School. The weekend launch (August 15-16) saw strong performance across different unit types.
Almost all of the 340 units of the 2-bedroom apartments were taken up. 95% of both the 384 units of 3-bedroom apartments and the 138 units of 4-bedroom apartments were sold. The 5-bedroom apartments also saw healthy interest, with 45% of the 71 units sold.
In the conserved block, 20 out of 32 homes found buyers, including all 1- and 2-bedroom layouts. With their heritage character and more spacious feel, the conserved apartments drew niche buyers looking for something unique.
Competitive new launch pricing
Indicative prices at Springleaf Residence started from S$860,000 for a 1-bedroom unit. 2-bedders began from about S$1.08 million, 3-bedders from S$1.62 million, and 4-bedders from S$2.45 million. Even the larger 5-bedroom layouts, which started from S$3.02 million, were competitively priced compared to similar-sized homes in other new launches.
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Who are the buyers?
Singaporeans and Permanent Residents accounted for nearly all buyers, with a mix of singles, young couples, families and multi-generational households. Market watchers noted that a large number of Springleaf Residence buyers were HDB upgraders from nearby estates.
The project also attracted residents already living in the Upper Thomson and Springleaf area, who saw it as an opportunity to upgrade without leaving a neighbourhood they were already familiar with.
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5 reasons why the market responded strongly
Pricing stood out as the most important factor
Most units at Springleaf Residence were priced below S$2.5 million, a quantum that remains achievable for many HDB upgraders and first-time private homebuyers. Kelvin Fong, chief executive officer of PropNex, noted that the project was “priced sensitively” at levels accessible to many buyers in today’s market.
At an average of S$2,175 psf, Springleaf Residence came in below the average price of new Outside Central Region (OCR) homes, which hovered around S$2,320 psf earlier this year. This gave buyers a sense that they were purchasing at a relative discount, without compromising on quality or location. Even against new executive condos (ECs), which currently average around S$1,750 psf, the gap is smaller than expected.
The project’s positioning gave it an edge over other recent launches
Springleaf Residence sits on a rare 3.2-hectare site, one of the largest among recent launches. It is also the first high-rise condominium in the Springleaf precinct, giving residents sweeping views of both greenery and the city.
Being just a two-minute walk from Springleaf MRT on the Thomson-East Coast Line, connectivity clearly became a major draw here. Residents could enjoy excellent access to Orchard Road, the Central Business District, Changi Airport, and even Johor Bahru in the future.
At the same time, the neighbourhood offers a unique green lifestyle. Springleaf Residence is located right next to Singapore’s largest nature reserve, offering residents easy access to trails and green spaces. This dual advantage, urban connectivity combined with natural surroundings, made the project stand out to families and young couples who want both convenience and greenery.
Read more: Springleaf Residence: Rare first-mover advantage in a forest-edged neighbourhood
GuocoLand has also emphasised a biodiversity-sensitive design, integrating natural elements and heritage architecture into the master plan. This design approach carries over into the conserved block, where buyers can enjoy homes that blend historical character with modern layouts. These units, once part of Upper Thomson Secondary School, offer a living experience rarely found in new launches.
Limited supply in Springleaf created urgency among buyers
Over the past three years, most of the new housing supply in District 26 has been concentrated in the Lentor Hills estate. Think of the latest one, Lentor Central Residence, which also achieved an impressive 93% take-up rate at an average price of S$2,200 psf in March 2025. This project is fully sold now.
For buyers who missed out or had been priced out back then, Springleaf Residence provided a fresh alternative in the same district, but with its own distinct identity. This includes the first mover advantage, which the Lentor projects can no longer offer. In particular, the conserved block at Springleaf Residence gave buyers a chance to own a piece of local history, something unavailable in other mass-market launches.
The strong response at Springleaf Residence is also expected to boost confidence in the upcoming Upper Thomson Road Parcel A tender, which closes in October. This site could yield about 595 new homes and 2,000 sqm of commercial space directly connected to Springleaf MRT.
Strong upgrader demand also played a role
Between 2022 and 2025, more than 4,800 flats in nearby estates reached their Minimum Occupation Period (MOP). Many of these households are now in a position to upgrade, and Springleaf Residence — with its mix of 2- to 4-bedroom layouts priced within reach — was a natural choice.
For them, the project offered not only more space and better facilities, but also the chance to remain close to their existing neighbourhoods, schools, and extended families. The nearby Lentor Hills precinct, which has seen close to 3,000 units launched across its six projects, is also popular among upgraders and now has fewer than 100 unsold units remaining.
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GuocoLand’s reputation helped instill confidence
The developer has a proven track record in transforming precincts, most notably in the Lentor Hills area, where earlier projects such as Lentor Modern and Lentor Hills Residences reshaped the neighbourhood. Buyers trusted that Springleaf Residence would be delivered with the same emphasis on quality, thoughtful design, and integrated community living.
The fact that the project was the first in Singapore to adopt a biodiversity-sensitive design approach also added a layer of prestige and differentiation, especially among younger buyers who value sustainability.
Following Springleaf’s launch, the developer is preparing to unveil Faber Residence, a 399-unit waterfront development at Faber Walk, later this year. Designed with a similar emphasis on nature and community, it will likely attract buyers seeking a quieter lifestyle near the Pandan River and Jurong Lake District.
New private home sales in Q3 2025 so far
Springleaf Residence’s robust take-up at launch has significantly boosted the developer’s sales within the quarter. Earlier in July, developers sold a total of 940 units, excluding executive condominiums (ECs), according to Urban Redevelopment Authority (URA). This month’s sales were bolstered by the standout performance of LyndenWoods, CapitaLand Development’s first residential project at the Singapore Science Park, which sold 331 of its 343 units at a median price of S$2,463 psf.
Read more: Highest take-up rate in 2025: Will LyndenWoods sell out within the first month of launch?
As for August, developers have sold more than 1,800 new units in total so far, including the recent launch sales at Springleaf Residence. This sets the stage for the strongest monthly new home sales since November 2024, when more than 2,500 units were transacted.
Before Springleaf Residence, August opened with a rare cross-market new launch lineup, with three new projects debuting across all three market regions. River Green (CCR), Promenade Peak (RCR), and Canberra Crescent Residences (OCR) collectively moved more than 900 units. Together with the new private home sales recorded in July, developers have already sold more than 2,700 units in Q3 2025 alone.
Read more: Nearly 1,000 units sold in 3 new launches over the weekend: River Green sets 2025 sales record for CCR
Developer sales outlook in 2025
Cumulatively, developer sales between January and mid-August 2025 have already exceeded 7,400 units, surpassing full-year totals for each of the last three years. With several new launches to come in the rest of the year (such as Zyon Grand, Skye at Holland, and The Sen), Fong also noted that 2025 could record the highest new home sales since 2021, a year that saw over 13,000 units sold.
Check the full list of New Launches in 2025 here.
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