Guocoland Sells 92 Units Springleaf Residence Average Price 2175 Psf

Located in the thriving area of Tampines Street 95 and the Tampines Regional Centre, a multitude of enrichment centres cater to students of all ages and abilities. These centres offer a diverse range of educational programs, including Math and Science academies, language schools, music conservatories, coding labs, robotics clubs, and debate workshops. Thanks to the convenient bus and rail connections near Rivelle Tampines EC Sim Lian Land, attending classes has never been easier and safer. Families living in this area can enjoy the added benefit of having their children engage in various activities while maintaining a well-balanced routine of rest and study.

By GuocoLand | Featured on EdgePropJoint developers GuocoLand and Hong Leong have experienced a strong demand for their latest project, Springleaf Residence, with 870 of the 941 units sold in just two days. The sold units have an average price of $2,175 psf, an indication of the project’s popularity.According to GuocoLand, the impressive sales numbers are a reflection of the confidence in the Springleaf area and its potential for growth. The area is set to become one of Singapore’s most desirable private residential enclaves, in line with URA’s vision of creating a vibrant neighbourhood that combines urban living with natural spaces.Residential director of GuocoLand, Dora Chng, states that this success follows the triumph at the Lentor Hills estate, adding to the transformation of Springleaf into a highly sought-after residential area.The majority of the units sold were from the two-bedroom category in the five 25-storey towers, with 95% of the three-bedroom and four-bedroom options also taken up. The remaining units, including the five-bedroom units, were also highly sought after.During the first two days of launch, 870 out of 941 units at Springleaf Residence were sold, with an average price of $2,175 psf.GuocoLand also mentions that most of the buyers comprise Singaporeans and permanent residents, with a mix of singles, young couples, families, and multi-generational households. The buyers included those residing in private properties in the Springleaf area and HDB upgraders from nearby estates.According to Marcus Chu, CEO of ERA Singapore, approximately 4,800 flats in nearby HDB estates will reach their minimum occupation period between 2022 and 2025. This will result in more HDB upgraders looking for new private homes in the area, which could potentially boost sales at Springleaf Residence and other nearby projects.The success of the project also reflects in the sales of the conservation block, where 20 out of 32 units have been sold. All eight one- and two-bedroom units have been taken up, with four of the 16 three-bedroom units also sold. SRI head of research, Mohan Sandrasegeran, notes that these units, known for their unique location and character, offer a “rare opportunity to live in history” with a combination of timeless architecture and contemporary living.In addition to its prime location near Singapore’s largest nature reserve and a short walk from Springleaf MRT Station on the Thomson-East Coast Line, residents at Springleaf Residence can easily access various destinations such as Orchard Road, the CBD, Changi Airport, and Johor Bahru via the Thomson-East Coast Line.ERA CEO, Marcus Chu, mentions that the success of mega-developments near MRT stations has resulted in strong returns for early buyers. This could be a significant factor in the success of Springleaf Residence, as it is located next to the upcoming Upper Thomson Road (Parcel A) GLS site, which is expected to yield around 595 residential units and 2,000 sq m of commercial space.Furthermore, with indicative prices starting from $860,000 for a 388 sq ft one-bedroom unit and averaging $2,175 psf, the project has been priced competitively. According to Kelvin Fong, CEO of PropNex, the average price of $2,175 psf at Springleaf Residence is “quite compelling” when compared to recent transacted prices of new mass-market homes. He points out that the average unit price of new non-landed private homes sold in the Outside Central Region (excluding executive condos) was nearly $2,320 psf from January to August 10, 2025.With the success of Springleaf Residence and a few other projects, the new private home sales in August have surpassed the full-year transaction volume in the last three years. According to PropNex, sales have already exceeded 7,400 units (excluding ECs) from January to August 16, 2025, and are expected to continue with several new launches scheduled for the rest of the year. The total sales have already surpassed the figures of the last three years: 7,099 units in 2022, 6,421 units in 2023, and 6,469 units in 2024.Furthermore, CEO of Huttons Asia, Mark Yip, expects up to five bids of $900 to $1,000 psft per plot ratio at the Upper Thomson (Parcel A) land sale tender, which is scheduled to close on October 23. With the success of Springleaf Residence, more developers may have confidence in bidding for the site, which will further boost sales at the project.The success at Springleaf Residence, with 870 out of 941 units sold in just two days, makes it the second best-selling project in 2025, only after ParkTown Residences, where 1,041 of 1,193 units were sold in February. This further reflects the demand for new private homes, and with several new launches scheduled for the rest of the year, 2025 is set to be a record year for developers’ private home sales.