Boon Lay to Springleaf: Where are the most walkable neighbourhoods in Singapore?
Springleaf Residence experienced a highly successful launch as joint developers GuocoLand and Hong Leong sold 870 out of the 941 units within the first two days from August 15 to 16. The average price for units sold was $2,175 per square foot.
Purchasing a condominium in Singapore presents numerous benefits, including the potential for significant capital appreciation. The island nation’s prime location as a major business hub, along with its robust economy, generates a constant demand for real estate. Over the years, the real estate market in Singapore has consistently demonstrated an upward trend, with condos in highly sought-after areas experiencing considerable appreciation. By investing in the market at an opportune time and holding onto their properties for the long haul, investors can reap substantial capital gains. Stay updated on the latest developments by checking out new condo launches.
The majority of the 340 two-bedroom units in the five 25-storey towers were sold out while 95% of the 384 three-bedroom units and 138 four-bedroom units were also taken up. 45% of the 71 five-bedroom units were also sold.
The strong demand for Springleaf Residence reflects the market’s confidence in the growth potential of the Springleaf area, in line with the Urban Redevelopment Authority’s vision of creating a vibrant neighborhood that balances urban living with natural spaces. Dora Chng, the residential director at GuocoLand, remarked that this marks the beginning of the transformation of Springleaf into one of Singapore’s most sought-after private residential enclaves, building on the success of their previous project, Lentor Hills estate.
Springleaf Residence is located just a 2-minute sheltered walk from Springleaf MRT Station on the Thomson-East Coast Line. Indicative prices for units at Springleaf Residence started at $860,000 for a 388 square foot 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. According to Kelvin Fong, the CEO of PropNex, the project has been priced thoughtfully, with most units falling below the $2.5 million mark which remains accessible to many buyers in the current market. Fong added that the average price of $2,175 psf at Springleaf Residence compares favorably to recent transacted prices for new mass-market homes, which was approximately $2,320 psf from January to August 10, 2025 based on caveats lodged.
The buyers of Springleaf Residence are primarily Singaporeans and permanent residents, including singles, young couples, families, and multi-generational households. Some buyers are also 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. ERA Research and Market Intelligence also found that between 2022 and 2025, around 4,800 flats in nearby HDB estates will reach their minimum occupation period, making them eligible for sale in the resale market.
At the conservation block, 20 out of 32 units were sold, with all eight one- and two-bedroom units taken. Four out of the 16 three-bedroom units have been sold, leaving 12 available. Mohan Sandrasegeran, SRI’s head of research, stated that these units are particularly appealing due to their unique location and character. He added that some units in the conserved block are noticeably more spacious than their counterparts in the main towers, offering a rare opportunity to live in a place where timeless architecture meets contemporary living.
The main appeal of Springleaf Residence lies in its integration with nature and community spaces, offering a distinctive lifestyle for buyers who value identity, design, and a closer connection to home, according to Sandrasegeran.
The Upper Thomson (Parcel A) GLS site, located next to Springleaf Residence, is expected to yield around 595 residential units and 2,000 sq m of commercial space, with direct connectivity to Springleaf MRT station on the Thomson-East Coast Line. Besides its proximity to Singapore’s largest nature reserve and a two-minute walk from Springleaf MRT Station, residents can easily access Orchard Road, the CBD, Changi Airport, and Johor Bahru via the Thomson-East Coast Line. According to Chu, evidence shows that mega-developments near MRT stations deliver strong returns for early buyers.
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. Mark Yip, the CEO of Huttons Asia, expects up to five bids at $900 to $1,000 per square foot per plot ratio. Springleaf Residence’s sales make it the second best-selling project in 2025, after ParkTown Residences, where 1,041 out of 1,193 units were sold at launch in February.
Including transactions at projects such as River Green, Promenade Peak, Canberra Crescent Residences, and Springleaf Residence, developers have sold more than 1,800 new private homes in August thus far, according to PropNex. This puts August on track to post the strongest month of new home sales since November 2024, when more than 2,500 units were transacted. Cumulatively, from January to August 16, developers have sold over 7,400 units, surpassing the full-year transaction volume in each of the last three years. With several new launches to come in the rest of the year, 2025 is set to achieve a robust sales performance and record the highest developers’ sales tally since 2021.