Developers’ private home sales hit 4,081 units in July, up 25% from JuneSpringleaf transformation gathers momentum from strong sales at Springleaf Residence
Joint developers GuocoLand and Hong Leong have successfully sold 870 out of the 941 units at the newly launched Springleaf Residence in just two days. The average price of the units sold was at $2,175 per square foot.
The response to the project was overwhelming, with almost all of the two-bedroom units in the five 25-storey towers being sold out. 95% of the three-bedroom units and 138 of the four-bedroom units were also taken up by buyers. 45% of the larger five-bedroom units were also sold.
According to GuocoLand, the strong demand for Springleaf Residence reflects the market’s confidence in the area’s growth potential. The project is in line with URA’s vision of creating a vibrant neighbourhood that combines urban living with natural surroundings. Dora Chng, the residential director of GuocoLand, stated that this marks the beginning of Springleaf’s transformation into one of the most sought-after residential enclaves in Singapore. She also mentioned the success they have achieved at the Lentor Hills estate.
Prospective buyers can still get the latest updates on available units and prices for Springleaf Residence.
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Springleaf Residence’s location, just a two-minute sheltered walk from Springleaf MRT Station on the Thomson-East Coast Line, has also contributed to its popularity. Indicative prices for the units start from $860,000 for a one-bedroom unit (388 sq ft), $1.08 million for a two-bedroom unit, $1.62 million for a three-bedroom unit, and $2.45 million for a four-bedroom unit. Kelvin Fong, the CEO of PropNex, emphasized that the project has been priced sensitively, with most units priced below the $2.5 million mark. This makes it affordable for many buyers in today’s market.
Fong also added that the average price of $2,175 psf at Springleaf Residence is “quite compelling” compared to recent transacted prices of new mass-market homes. Based on caveats lodged, the average unit price of new non-landed private homes sold in the Outside Central Region (excluding executive condos) was nearly $2,320 psf in the period from January to August 10, 2025.
Singaporeans and permanent residents make up the majority of buyers, with a mix of singles, young couples, families, and multi-generational households. Buyers include local private property residents in the Springleaf area, as well as HDB upgraders from nearby HDB estates, according to Marcus Chu, the CEO of ERA Singapore.
Mohan Sandrasegeran, the SRI Head of Research, stated that 20 of 32 units in the conservation block have been sold. All eight one- and two-bedroom units were taken. Four of the 16 three-bedroom units have been sold, with the remaining 12 available. Sandrasegeran emphasized that these units are unique in location and character. He also added that some units in the conserved block are more spacious than their counterparts in the main towers. These units provide buyers with a rare opportunity to live in a historic location where timeless architecture meets contemporary living.
The main appeal 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 their homes, according to Sandrasegeran.
Springleaf Residence’s proximity to Singapore’s largest nature reserve and its two-minute walk to the Springleaf MRT Station have also contributed to its appeal. Residents can easily reach Orchard Road, the CBD, Changi Airport, and Johor Bahru via the Thomson-East Coast Line. Marcus Chu from ERA mentioned that evidence shows that mega-developments near MRT stations deliver strong returns for early buyers.
Mark Yip, the CEO of Huttons Asia, stated that the strong sales at Springleaf Residence are expected to boost developer confidence in the Upper Thomson Road (Parcel A) land sale tender, which is scheduled to close on October 23. He expects up to five bids between $900 to $1,000 psf per plot ratio.
With its strong sales, Springleaf Residence is now the second best-selling condo project by number of units in 2025, following ParkTown Residences, where 1,041 of 1,193 units were sold at launch in February.
In August alone, developers have sold more than 1,800 new private homes, including transactions at projects such as River Green, Promenade Peak, Canberra Crescent Residences, and Springleaf Residence, according to PropNex. This puts August on track to have the strongest month of new home sales since November 2024, where more than 2,500 units were transacted. Cumulatively, from January to August 16, developers have sold more than 7,400 private new homes (excluding ECs), surpassing the full-year transaction volume in each of the last three years. With more new launches to come, 2025 is expected to see a robust sales performance, with the highest developers’ sales tally since 2021, where 13,027 units were sold.
For those interested, they can check out the latest listings for Springleaf Residence properties and ask for Buddy for more information. They can also see the site plan and diagrammatic chart for Springleaf Residence, the total number of units, view 2-bedroom floor plans, and check out other upcoming new launch projects.