Springleaf Residence Pricing Review: How It Compares To Nearby Resale And New Launches

A pricing review of Springleaf Residence is tough for two reasons: first, it’s a first-mover condo, in an area that has, up till now, been dominated by landed housing, so there isn’t much of a precedent. Second, Springleaf Residence is one of the most competitively priced projects in 2025 already; three-bedders here can still be below $1.7 million, so it will undercut virtually every other new launch in terms of pricing. 

But does lower pricing automatically translate to good value? Let’s take a closer look to see whether affordability here truly equates to a worthwhile buy.

Indicative prices for Springleaf Residence

Unit type	Estimated size (sqft)	Indicative starting price	Estimated starting $PSF
1 Bedroom	388	$878,000	$2,263
2 Bedroom	527	$1,078,000	$2,046
3 Bedroom	786	$1,618,000	$2,058
4 Bedroom	1,227	$2,448,000	$1,995
5 Bedroom	1,453	$3,018,000	$2,077
Average			$2,088

The quantum is low for 2025, where the average new launch 2 bedder can be expected to hit the $1.8 million mark. While the total square footage is lower, bear in mind this is a post-harmonisation project, so the square footage excludes features like air-con ledges or strata void spaces.

Let’s look at the overall performance of District 26 for better context

We’ll look at how D26 condos have performed compared to the rest of Singapore over 10 years. This is across all transaction types.

All tenures

Year	D26	All non-landed private properties
2014	$979	$1,289
2015	$958	$1,180
2016	$909	$1,232
2017	$1,006	$1,304
2018	$1,021	$1,435
2019	$1,082	$1,560
2020	$1,144	$1,513
2021	$1,131	$1,600
2022	$1,985	$1,712
2023	$2,024	$1,869
2024	$2,160	$1,886
Annualised	8.23%	3.88%

Here’s a look at the performance when we separate the 99-year leasehold properties from the freehold properties 

(Where we mention freehold, we also include 999-year properties as they’re effectively similar) 

99-year leasehold properties

Year	D26	All non-landed private properties
2014	$830	$1,195
2015	$830	$1,104
2016	$806	$1,166
2017	$806	$1,230
2018	$822	$1,359
2019	$1,047	$1,474
2020	$1,143	$1,453
2021	$1,053	$1,517
2022	$2,025	$1,595
2023	$2,043	$1,783
2024	$2,184	$1,854
Annualised	10.16%	4.49%

999-year/freehold properties

Year	D26	All non-landed private properties
2014	$1,054	$1,505
2015	$1,083	$1,438
2016	$995	$1,470
2017	$1,126	$1,501
2018	$1,192	$1,617
2019	$1,128	$1,797
2020	$1,147	$1,688
2021	$1,250	$1,812
2022	$1,379	$1,995
2023	$1,554	$2,111
2024	$1,596	$2,003
Annualised	4.24%	2.90%

Over the past decade, District 26 has outperformed the broader Singapore market by a wide margin. This is regardless of whether we look at freehold or leasehold properties. 

Overall, non-landed properties in the district rose at an annualised rate of 8.23 per cent, versus just 3.88 per cent across Singapore. The leasehold segment in D26 performed even better, rising at 10.16 per cent versus Singapore’s average of 4.49 per cent.

Freehold properties in D26 saw annualised growth of 4.24 per cent, also ahead of Singapore’s average of 2.9 per cent.

Next, let’s compare D26’s performance across the three regions

These are the Outside of Central Region (OCR), Rest of Central Region (RCR) and Core Central Region (CCR):

All tenures

Year	D26	CCR	RCR	OCR
2014	$979	$1,971	$1,408	$1,062
2015	$958	$1,846	$1,383	$1,010
2016	$909	$1,968	$1,390	$1,008
2017	$1,006	$1,940	$1,464	$1,053
2018	$1,021	$2,161	$1,594	$1,139
2019	$1,082	$2,294	$1,726	$1,225
2020	$1,144	$2,181	$1,681	$1,229
2021	$1,131	$2,318	$1,808	$1,252
2022	$1,985	$2,451	$1,893	$1,381
2023	$2,024	$2,512	$2,102	$1,518
2024	$2,160	$2,330	$2,159	$1,653
Annualised	8.23%	1.69%	4.37%	4.53%

99-year leasehold properties

Year	D26	CCR	RCR	OCR
2014	$830	$2,073	$1,453	$1,025
2015	$830	$1,857	$1,417	$993
2016	$806	$2,106	$1,420	$999
2017	$806	$1,984	$1,509	$1,050
2018	$822	$2,153	$1,636	$1,139
2019	$1,047	$2,319	$1,739	$1,225
2020	$1,143	$2,226	$1,714	$1,222
2021	$1,053	$2,327	$1,873	$1,228
2022	$2,025	$2,311	$1,970	$1,354
2023	$2,043	$2,316	$2,186	$1,520
2024	$2,184	$2,312	$2,230	$1,661
Annualised	10.16%	1.10%	4.38%	4.95%

999-year/freehold properties

Year	D26	CCR	RCR	OCR
2014	$1,054	$1,940	$1,415	$1,261
2015	$1,083	$1,855	$1,320	$1,178
2016	$995	$1,896	$1,339	$1,135
2017	$1,126	$1,939	$1,404	$1,100
2018	$1,192	$2,203	$1,526	$1,161
2019	$1,128	$2,316	$1,715	$1,260
2020	$1,147	$2,182	$1,640	$1,238
2021	$1,250	$2,341	$1,690	$1,326
2022	$1,379	$2,551	$1,774	$1,518
2023	$1,554	$2,638	$1,948	$1,514
2024	$1,596	$2,371	$2,044	$1,597
Annualised	4.24%	2.03%	3.74%	2.39%

For all tenures, D26’s non-landed properties grew at an annualised rate of 8.23 per cent. This is ahead of the average in the OCR (4.53 per cent), RCR (4.37 per cent), and CCR (1.69 per cent). 

The pattern holds for 99-year properties as well. D26 recorded a 10.16 per cent annualised growth rate, ahead of the OCR at 4.95 per cent, RCR at 4.38 per cent, and CCR at 1.10 per cent. 

Freehold properties in D26 also beat regional averages, with annualised growth of 4.24 per cent. Overall, D26 has seen good appreciation in the wider context.

Next, let’s take a look at how nearby condos have performed so far

As mentioned above, this is challenging since Springleaf Residence is a first-mover with no immediate condo neighbours; so we’ll have to expand our search radius. We will also base the comparisons on resale and subsale transactions over a roughly one-year period. 

Project	Completion year	Tenure	No. of units	Unit mix	Avg size	Avg $PSF	Avg price	No. of tnx
FOREST HILLS CONDOMINIUM	2003	99-year	128	2, 3, 4	1264	$1,096	$1,381,375	8
FAR HORIZON GARDENS	1986	99-year	270	2, 3, 4	1616	$1,097	$1,713,800	10
SEASONS PARK	1997	99-year	390	1, 2, 3, 4	1261	$1,263	$1,599,257	19
NUOVO (EC)	2004	99-year	297	3, 4	1442	$1,288	$1,829,636	11
CASTLE GREEN	1997	99-year	664	2, 3, 4	1152	$1,296	$1,496,258	37
THE BROOKS II	2016	Freehold	28	1, 2, 3	1152	$1,389	$1,600,000	1
THE BROOKS I	2016	Freehold	33	1, 2, 3	818	$1,539	$1,258,888	1
BULLION PARK	1992	Freehold	472	2, 3	1039	$1,539	$1,585,305	15
THE ESSENCE	2023	99-year	84	1, 2, 3	665	$1,565	$1,043,600	5
THOMSON GROVE	1984	Freehold	116	3, 4	1536	$1,586	$2,425,068	13
THE CALROSE	2007	Freehold	421	2, 3, 4	1381	$1,810	$2,449,320	15
SPRINGLEAF RESIDENCE						$2,088

Across these projects, we can see that average prices tend to fall in the range of $1,000 to $1,800 psf, with most of the 99-year condos (Forest Hills, Far Horizon Gardens, and Seasons Park) transacting below $1,300 psf. 

Freehold condos in the area, such as Bullion Park, Thomson Grove, and The Calrose, typically reached $1,500 psf, in some cases pushing close to $1,800 psf; fairly typical given the freehold premium. 

Against this backdrop, Springleaf Residence starts from about $2,046 to $2,088 psf on average. While this is clearly higher on a psf basis, it reflects the norms of the 2025 new launch market; developers today focus on overall affordability rather than $PSF. 

Notice that, compared to the other projects, Springleaf Residence’s quantum remains low, especially for family-sized units. A three-bedder from $1.618 million is still cheaper than many older freehold units in the table, for example, because older oversized projects push prices above the $2 million mark. 

So Springleaf Residence, while not “cheap” on a $PSF basis, is very competitively priced compared to its closest neighbours (which, again, we wouldn’t call very close.)

Next, let’s compare prices based on unit types (by bedroom number)

1-bedroom units

Project	Avg $PSF	Avg price	No. of tnx
THE ESSENCE	$1,536	$826,500	2
SPRINGLEAF RESIDENCE		Starting from $878,000

2-bedroom units

Project	Avg $PSF	Avg price	No. of tnx
SPRINGLEAF RESIDENCE		Starting from $1,078,000
THE ESSENCE	$1,584	$1,188,333	3
CASTLE GREEN	$1,265	$1,227,341	14
SEASONS PARK	$1,164	$1,249,148	6
THE BROOKS I	$1,539	$1,258,888	1
BULLION PARK	$1,601	$1,292,486	8
FOREST HILLS CONDOMINIUM	$1,077	$1,293,250	4
FAR HORIZON GARDENS	$1,109	$1,317,429	7
THE BROOKS II	$1,389	$1,600,000	1
THE CALROSE	$1,449	$2,195,000	2

3-bedroom units

Project	Avg $PSF	Avg price	No. of tnx
FOREST HILLS CONDOMINIUM	$1,118	$1,300,000	3
CASTLE GREEN	$1,289	$1,554,405	17
SPRINGLEAF RESIDENCE		Starting from $1,618,000
SEASONS PARK	$1,311	$1,668,273	11
NUOVO	$1,285	$1,786,444	9
BULLION PARK	$1,468	$1,919,955	7
FAR HORIZON GARDENS	$1,197	$2,364,000	2
THOMSON GROVE	$1,605	$2,384,657	12
THE CALROSE	$1,863	$2,468,000	12

4-bedroom units

Project	Avg $PSF	Avg price	No. of tnx
CASTLE GREEN	$1,389	$1,958,981	6
FOREST HILLS CONDOMINIUM	$1,100	$1,978,000	1
NUOVO	$1,306	$2,024,000	2
SEASONS PARK	$1,294	$2,270,000	2
SPRINGLEAF RESIDENCE		Starting from $2,448,000
THE CALROSE	$1,895	$2,733,800	1
FAR HORIZON GARDENS	$816	$3,188,000	1

For the one-bedders, Springleaf Residence’s starting price of $878,000 is only slightly higher than the two recent transactions at The Essence, which averaged $826,500. 

Springleaf Residences’ two-bedders, however, have the lowest starting prices among the resale projects in the area; this makes them an appealing entry point for upgraders or first-time buyers. 

The three-bedders are priced toward the lower end of the range, with only a few older developments coming in cheaper, e.g., Forest Hills Condominium, Castle Green, and Seasons Park. These resale options are also bigger than Springleaf’s three-bedders, but the price point is due to age; note their completion dates ranging from the late 1990s to early 2000s.

The four-bedders at Springleaf Residence fall on the higher end, but still remain below some freehold options like The Calrose and Far Horizon Gardens. 

None of the nearby private condos currently offers five-bedroom units; Springleaf will be the first in the area. 

Let’s also do a quick comparison based on size

We’ll use the minimum size for each unit type:

1-bedroom units

Project	Min. size (sq ft)
SPRINGLEAF RESIDENCE	Starting from 388
THE ESSENCE	538
THE BROOKS I	570
THE BROOKS II	570
SEASONS PARK	1,076

2-bedroom units

Project	Min. size (sq ft)
SPRINGLEAF RESIDENCE	Starting from 527
THE ESSENCE	624
THE BROOKS I	710
THE BROOKS II	710
BULLION PARK	807
THE CALROSE	926
CASTLE GREEN	947
FOREST HILLS CONDOMINIUM	1,044
SEASONS PARK	1,044
FAR HORIZON GARDENS	1,152

3-bedroom units

Project	Min. size (sq ft)
SPRINGLEAF RESIDENCE	Starting from 786
THE ESSENCE	1,044
THE BROOKS I	1,066
NUOVO	1,119
THE CALROSE	1,141
CASTLE GREEN	1,150
FOREST HILLS CONDOMINIUM	1,163
BULLION PARK	1,238
SEASONS PARK	1,249
THE BROOKS II	1,399
THOMSON GROVE	1,485
FAR HORIZON GARDENS	1,948

4-bedroom units

Project	Min. size (sq ft)
SPRINGLEAF RESIDENCE	Starting from 1,227
CASTLE GREEN	1,346
THE CALROSE	1,399
SEASONS PARK	1,539
NUOVO	1,550
FOREST HILLS CONDOMINIUM	1,798
FAR HORIZON GARDENS	3,907

Across all unit types, the starting sizes at Springleaf Residence are the smallest among nearby private condos. 

For one- and two-bedroom units in particular, Springleaf’s compact layouts start from just 388 and 527 square feet, respectively. In comparison, the next smallest units can be found at The Essence and The Brooks I and II, where even the most compact layouts start from over 500 square feet. 

Springleaf Residence’s three-bedders start from just 786 square feet, whereas most other nearby projects offer three-bedders starting above 1,000 square feet, while the four-bedroom units at Springleaf Residence also follow this trend, starting from 1,227 square feet. Most comparable projects in the area offer significantly larger four-bedders, such as Castle Green at 1,346 square feet, The Calrose at 1,399 square feet, and Seasons Park at 1,539 square feet. 

Overall though, it’s not surprising that a 2025 new launch is smaller than previous resale condos.

The Essence is a useful comparison point for Springleaf Residence, as it shares several key similarities. 

Both are 99-year leasehold projects, and The Essence was completed in 2023, making it one of the few newer developments in the area. It also offers similarly sized one- and two-bedroom units. Pricing is relatively close for these smaller unit types, which means buyers considering Springleaf are likely to also evaluate The Essence. So let’s make the comparisons here:

The Essence’s profitability

The following includes all sub sale and resale transactions

Gains

Description	1BR	2BR	3BR	Entire Project (Average)
Average gains	$49,000	$178,355	$180,000	$135,785
Average purchase price	$777,500	$987,895	$1,540,000	$1,101,798
ROI	6.43%	18.19%	11.69%	12.10%
No. of tnx	2	4	1	7 (Total)
Average holding period (years)	4.0	4.6	3.4	4.0

Losses

Description	1BR	Entire Project (Average)
Average gains	-$60,000	-$60,000
Average purchase price	$760,000	$760,000
ROI	-7.89%	-7.89%
No. of tnx	1	1
Average holding period (years)	3.7	3.7

While The Essence is a useful benchmark for Springleaf Residence, it’s still a relatively new project, having only been completed in 2023. As such, transaction volumes are still low; but let’s see what we can derive.

There have been a total of eight transactions at The Essence: seven of these were profitable, while only one resulted in a loss. 

Among the unit types, the two-bedders have shown the strongest returns so far, with an average gain of around $178,000 and an ROI of over 18 per cent. One-bedroom units saw smaller average gains of just under $50,000, while the lone three-bedder (a subsale in 2023) saw an estimated gain of $180,000.

One point to note is that the three-bedroom unit transacted in The Essence was significantly larger (1,389 sq ft) than the new launch three-bedders at Springleaf Residence (which start from 786 sq ft); direct comparisons based on these unit sizes may not be meaningful. 

Nonetheless, early signs show solid gains for smaller units in this part of D26. As Springleaf Residence comes online, its performance may follow a similar trajectory, especially given the benefit of low-density surroundings and MRT access.

Now, let’s compare the floor plans of Springleaf Residence against those of The Essence

One-bedroom units

Springleaf Residence offers a single layout for its one-bedroom units, measuring 388 sq ft (note that this is post-harmonisation). The Essence has several variations, with the smallest unit measuring 538 sq ft. 

The layout at Springleaf is a standard one-bedder, whereas the unit at The Essence is a one-plus-study. The Essence’s layout also includes a balcony connected to the living area, so it’s a bit less efficient than Springleaf. Outside of those differences, the rest of the layout is broadly similar: both come with Jack and Jill bathrooms that are accessible from the living room as well as the bedroom.

Despite being smaller, Springleaf Residence’s one-bedder starts at $878,000; that’s only about $63,000 more than the last one-bedroom unit transacted at The Essence. When you factor in that Springleaf Residence is right next to an MRT station, and comes with more extensive facilities, we would see a strong lean toward Springleaf Residence. 

Two-bedroom units

Both Springleaf Residence and The Essence offer two-bedders in a variety of sizes, but the comparison here focuses on their smallest units. While Springleaf’s two-bedder starts from 527 sq ft and The Essence’s from 624 sq ft, the difference may not be as significant once you factor in GFA harmonisation.

Both are two-bedroom, one-bathroom layouts with similar configurations. They feature dumbbell layouts, separate living and dining zones, a Jack and Jill bathroom, and a balcony connected to the living area. 

Given that Springleaf Residence has a slightly lower starting price and is a larger-scale project located closer to the MRT station, it may be the more attractive option right now.

Three-bedroom units

Both Springleaf Residence and The Essence offer a range of three-bedder sizes, though we’ll focus here on their smallest units: 786 sq ft for Springleaf and 1,044 sq ft for The Essence. Even accounting for GFA harmonisation, Springleaf’s unit is much smaller; so this is an apples-to-oranges comparison given the size gap. But we’ll attempt it anyway for context.

There are several key layout differences. Springleaf’s three-bedder adopts a dumbbell layout, while The Essence features a more conventional configuration. The Essence includes two balconies – one in the living area and another in the master bedroom – while Springleaf more efficiently keeps to one. 

The kitchen in Springleaf is an open-concept space tucked into a corner, which can potentially be enclosed. This contrasts with The Essence, where the kitchen is fully enclosed; so score one for The Essence. The Essence also has a small foyer that buffers the entrance from the main living areas, while Springleaf’s main door opens directly into the living/dining space (a common drawback of dumbbell layouts). 

So far, only one three-bedder at The Essence has changed hands – a 1,389 sq ft unit on the 5th floor, sold in November 2023 for $1.72 million. That works out to $1,239 psf. If we apply that rate to the 1,044 sq ft unit, it would imply a price of around $1.3 million, which is significantly below Springleaf’s starting price of $1.618 million. 

But again, we can’t read too much into this, as the two unit sizes and layouts are so different, and we’re looking at just a single transaction. 

Next, let’s compare Springleaf Residence to other new launches, for those shopping in the new-only market

Project	Tenure	District	Average $PSF for new sale transactions	Average developer’s profit margin (based on average $PSF)	Average quantum
Canberra Crescent Residences	99-year	27	Starting from $1,880
Springleaf Residence			$2,088
Lentor Central Residences	99-year	26	$2,222	23.93%	$1,963,121
Parktown Residence	99-year	18	$2,370	42.69%	$1,967,065
Lyndenwoods	99-year	5	$2,459	–	$2,231,703
Bloomsbury Residences	99-year	5	$2,488	19.85%	$1,823,520
ELTA	99-year	5	$2,546	18.09%	$2,071,392
The Orie	99-year	12	$2,731	18.48%	$2,398,830
One Marina Gardens	99-year	1	$2,952	25.03%	$1,918,130
Aurea	99-year	7	$2,991	–	$3,554,078
Arina East Residences	Freehold	15	$2,999	26.97%	$2,546,843
Meyer Blue	Freehold	15	$3,230	18.66%	$3,367,447
W Residences Marina View	99-year	1	$3,344	–	$3,417,500

Why Springleaf Residence could look attractive in today’s new launch context

At an estimated average starting price of $2,088 psf, Springleaf Residence stands out as one of the more affordable options among 2025’s new launches. The only exception is Canberra Crescent Residences, which has a lower starting indicative price of $1,880 (although the Canberra area itself is generally cheaper, as explained in that project’s review).

It’s priced below every other new launch on the table. This includes Lentor Central Residences, which is also located in D26 but transacted at an average of $2,222 psf.

While this is not a direct comparison – we are using Springleaf’s indicative pricing against actual transacted averages from other launches – the difference still suggests Springleaf is competitively priced relative to its peers. Even among OCR new launches, where pricing is typically lower than in the RCR or CCR, Springleaf Residence comes in cheaper.

Developer margins for the other projects range from 18 to 43 per cent, with an average of 24 per cent. Although we do not yet have margin data for Springleaf, its lower pricing could indicate a more modest margin. Alternatively, it may be an intentional strategy to position itself as a value-driven first mover – this will help buyers overcome the concerns of buying in an untested area for condos. 

Let’s take a look at the minimum prices of new launches today, so we can draw up a comparison 

Springleaf Residence is the most affordable new launch in all categories except for three-bedders and four-bedders.  

Other new launches in D26, such as Lentoria, Lentor Hills Residences, and Hillock Green, mostly start at least $250,000 more than Springleaf Residence. 

Even so, some buyers may still draw comparisons, especially with the ongoing transformation of the Lentor Hills precinct, so it is worth taking a closer look at how they stack up.

Project	Tenure	District	Average $PSF for new sale transactions	Average developer’s profit margin (based on average $PSF)	Average quantum
SPRINGLEAF RESIDENCE			$2,088
LENTOR HILLS RESIDENCES	99-year	26	$2,116	16.24%	$1,942,131
LENTOR MODERN	99-year	26	$2,125	9.92%	$1,931,046
HILLOCK GREEN	99-year	26	$2,185	11.31%	$2,007,800
LENTORIA	99-year	26	$2,199	10.34%	$1,871,857
LENTOR CENTRAL RESIDENCES	99-year	26	$2,222	23.93%	$1,953,356
LENTOR MANSION	99-year	26	$2,267	26.15%	$1,960,401

Compared to the new launches in Lentor, Springleaf Residence has the lowest average $PSF based on its indicative starting prices; it’s an outlier in a district where most recent launches have seen prices climb above $2,100 PSF.

For the Lentor projects, the developers’ profit margins – based on average transacted prices to date – range from just under 10 per cent to about 26 per cent. These margins reflect each developer’s pricing strategy, as the data comes entirely from new sale transactions.

While most of the Lentor launches are already close to fully sold, a few still have units available. Even so, the remaining units tend to be in the higher quantum range, which makes Springleaf Residence stand out further for D26.

Let’s take a look at the most affordable options among these projects

1-bedroom units

Project	Tenure	District	1-bedroom prices
Springleaf Residence	99 yrs	District 26	Starting from $878,000
Lentoria	99 yrs	District 26	$1,308,000
Lentor Hills Residences	99 yrs	District 26	$1,413,000
Hillock Green	99 yrs	District 26	$1,513,000

2-bedroom units

Project	Tenure	District	2-bedroom prices
Springleaf Residence	99 yrs	District 26	Starting from $1,078,000
Hillock Green	99 yrs	District 26	$1,618,000
Lentoria	99 yrs	District 26	$1,730,000

3-bedroom units

Project	Tenure	District	3-bedroom prices
Springleaf Residence	99 yrs	District 26	Starting from $1,618,000
Lentoria	99 yrs	District 26	$2,112,000
Hillock Green	99 yrs	District 26	$2,657,000

4-bedroom units

Project	Tenure	District	4-bedroom prices
Springleaf Residence	99 yrs	District 26	Starting from $2,448,000
Lentoria	99 yrs	District 26	$2,700,000
Hillock Green	99 yrs	District 26	$2,760,000

For one-bedroom units, the starting price at Springleaf Residence is $878,000, compared to $1.308 million at Lentoria and $1.513 million at Hillock Green; a difference of at least $430,000. 

This price gap narrows slightly for the larger unit types, but still remains significant: for example, the four-bedroom units at Springleaf Residence start from $2.448 million, while the same unit type at Hillock Green is priced from $2.76 million.

The difference between Springleaf Residence’s starting prices and the next-cheapest units in these projects ranges from around $252,000 to over $1 million. Given this substantial spread, Springleaf Residence has undercut most of its competition in the Lentor area. 

Now, let’s look at possible exit strategies and resale potential, if you were to buy at Springleaf Residence 

We’ll start by looking at HDB upgraders as the prospective future buyer pool, within the area of D26

Year	HDB	Unknown	Private	% HDB Upgraders	% of existing private property owners
2020	72	11	109	38%	57%
2021	90	3	207	30%	69%
2022	208	67	409	30%	60%
2023	263	146	348	35%	46%
2024	388	193	624	32%	52%

Looking at resale caveats from 2020 to 2024, the proportion of existing private property owners buying into D26 has consistently been higher than that of HDB upgraders. In 2024, for instance, 52 per cent of buyers were already private property owners, compared to just 32 per cent coming from HDB flats. Even in earlier years like 2020, the trend held, with 57 per cent private buyers versus 38 per cent HDB upgraders.

This suggests that if you’re planning an exit strategy down the road, you may also want to consider the expectations and budgets of existing private homeowners as your main buyer pool.

Nonetheless, let’s look at the price range that the HDB upgraders here found palatable

Price range	No. of transactions (done between 2024 to June 2025)
Under $1M	7
Between $1M – $1.5M	145
Between $1.6M – $2M	198
Between $2M – $2.5M	103
Between $2.5M – $3M	73
Above $3M	17

From 2024 to mid-2025, the bulk of transactions by HDB upgraders were in the $1.6 million to $2 million range (198 transactions), followed closely by those in the $1 million to $1.5 million range (145 transactions). 

A smaller group transacted homes in the $2 million to $2.5 million bracket (103 transactions).

These price bands suggest that most upgraders are aiming for two- and three-bedroom units, and in some cases, more affordable resale four-bedroom options. In this context, Springleaf Residence’s indicative pricing is aligned with upgrader budgets. Its two-bedroom units start from $1.078 million, and its three-bedders from $1.618 million; both comfortably within the most active transaction ranges. 

Let’s take a quick look at demand and supply numbers as well

This is the current supply across the three regions in Singapore

Bedrooms	CCR	RCR	OCR
1BR	18%	17%	9%
2BR	28%	30%	24%
3BR	36%	43%	52%
4BR	17%	9%	13%
5BR	1%	1%	2%

No. of bedrooms	1BR	2BR	3BR	4BR	5BR
Unit supply in D26	516	1723	1665	598	39
Unit supply in the area (includes only resale projects that we were looking at at the beginning of the article)*	84	798	872	194	0
Percentage	16%	46%	52%	32%	0%

The overall unit mix leans slightly toward two-bedders in D26, which make up about 46 per cent of the available supply. Three-bedders are close behind at 42 per cent, while one- and four-bedders trail at 16 and 32 per cent respectively. 

But within the immediate vicinity of Springleaf Residence, we see a reversal: three-bedroom units are the most common, with two-bedders just slightly behind. One-bedroom and four-bedroom units are comparatively limited, while five-bedroom units are completely absent. 

Across all of D26, there are just 39 five-bedder units, and none in the specific developments we reviewed earlier. As such, Springleaf Residence may help fill this supply gap – but this is dependent on whether buyers accept its 1,400+ sq ft as a five-bedder. 

Here’s a look at Springleaf Residence’s unit mix, to see how well it aligns:

Unit type	Estimated size (sqft)	Number of units	Unit breakdown
1 Bedroom (In conserved building)	388	8	0.85%
2 Bedroom (Basic)	527	117
2 Bedroom (In conserved building)	592	8
2 Bedroom (Standard)	646	215	36.13%
3 Bedroom (Basic)	786 – 818	164
3 Bedroom (Standard)	904 – 958	121
3 Bedroom (Plus)	1023 – 1076	83
3 Bedroom (In conserved building)	1119 – 1259	16	40.81%
4 Bedroom	1227	138	14.67%
5 Bedroom	1453 – 1475	71	7.55%

The bulk of units are three-bedders, closely followed by two-bedders. 

Now that we know the distribution, let’s look at the profitability of each of the unit types. 

We’ll compare only resale transactions to exclude distortions from developer discounts in early sales.

Unit type	Estimated size (sqft)	Number of units	Unit breakdown
1 Bedroom (In conserved building)	388	8	0.85%
2 Bedroom (Basic)	527	117
2 Bedroom (In conserved building)	592	8
2 Bedroom (Standard)	646	215	36.13%
3 Bedroom (Basic)	786 – 818	164
3 Bedroom (Standard)	904 – 958	121
3 Bedroom (Plus)	1023 – 1076	83
3 Bedroom (In conserved building)	1119 – 1259	16	40.81%
4 Bedroom	1227	138	14.67%
5 Bedroom	1453 – 1475	71	7.55%

Over the past 10 years, three-bedroom units in District 26 have recorded the strongest annualised price growth, making them the top performers among all unit types. Four-bedroom units followed closely behind. In contrast, one- and two-bedders saw more modest growth rates over the same period; unsurprising as this area is more for owner-occupiers than landlords and tenants. 

As for five-bedroom units, their performance is harder to assess. The limited number of such units in D26 means transaction data is scarce, and there isn’t enough volume to draw a meaningful conclusion on their long-term growth. The lack of supply could eventually be a boon for Springleaf’s five-bedders. 

With that context in mind, let’s now look at the actual profitability of the different unit types based on resale transactions from 2024 to June 2025. 

As before, this excludes new sale data to remove distortion from developer discounts.

One-bedroom units:

Project	Average price	Average gains	Average ROI	No. of transactions
THE ESSENCE	$826,500	$49,000	6.43%	2
Average/total	$826,500	$49,000	6.43%	2

Springleaf Residence starts from $878,000, which is higher than the average resale price of $826,500 at The Essence. While only two resale transactions have occurred at The Essence so far, both turned a modest profit (average ROI of 6.43 per cent). The data is too limited to draw many conclusions, though. 

Two-bedroom units:

Project	Average price	Average gains	Average ROI	No. of transactions
FOREST HILLS CONDOMINIUM	$1,148,000	$303,112	35.88%	1
SEASONS PARK	$1,180,000	$340,000	40.48%	1
THE ESSENCE	$1,188,333	$163,617	15.80%	3
FAR HORIZON GARDENS	$1,200,000	$405,000	50.94%	1
CASTLE GREEN	$1,250,500	$409,167	48.56%	6
THE BROOKS I	$1,258,888	$215,120	20.61%	1
BULLION PARK	$1,298,000	$433,000	50.06%	1
THE BROOKS II	$1,600,000	$313,000	24.32%	1
Average/total	$1,265,465	$322,752	35.83%	15

Springleaf Residence is the most affordable entry point for two-bedders in the area, starting from $1,078,000. This is lower than even older 99-year leasehold condos like Far Horizon Gardens and Castle Green, which have much larger unit sizes. 

Despite their age, many of these older developments posted strong ROIs of 36 to over 50 per cent. The Essence also performed well, with a 15.8 per cent ROI despite a short holding period, showing that newer projects can still appreciate meaningfully in this area.

Three-bedroom units:

Project	Average price	Average gains	Average ROI	No. of transactions
FOREST HILLS CONDOMINIUM	$1,260,000	$330,000	35.48%	1
NUOVO (EC)	$1,479,333	$482,333	48.55%	3
CASTLE GREEN	$1,630,222	$621,472	61.20%	4
SEASONS PARK	$1,665,000	$616,800	58.89%	5
THOMSON GROVE	$2,400,000	$930,000	63.27%	1
FAR HORIZON GARDENS	$2,480,000	$430,000	20.98%	1
THE CALROSE	$2,505,000	$830,000	49.91%	2
Average/total	$1,917,079	$605,801	48.32%	17

The 3-bedders at Springleaf Residence start from $1,618,000, placing it on the lower end of pricing for this segment. While it is slightly higher than older leasehold condos like Forest Hills and Nuovo, it is still much more affordable than freehold options like Thomson Grove and The Calrose, which jump into the $2.4 million and above range. 

Notably, three-bedder ROIs ranged from 21 to over 60 per cent, the highest among all unit types. This segment is historically the strongest performer in D26.

Four-bedroom units:

Project	Average price	Average gains	Average ROI	No. of transactions
CASTLE GREEN	$2,060,000	$727,500	54.57%	2
NUOVO (EC)	$2,068,000	$608,000	41.64%	1
SEASONS PARK	$2,490,000	$865,000	53.23%	1
THE CALROSE	$2,733,800	$783,800	40.19%	1
Average/total	$2,337,950	$746,075	47.41%	5

Springleaf Residence’s 4-bedders start at $2,448,000, which puts them right in the middle of the resale price range. It’s more affordable than The Calrose and Castle Green but slightly above Seasons Park. The ROI for 4-bedders in 99-year projects ranges from 42 to 55 per cent, supporting their reputation as solid performers.

Overall Takeaway:

The historical resale data suggests strong ROI potential for larger units, particularly three- and four-bedders, which have been the top performers in the area. Data for the smaller units is more limited, but Springleaf’s pricing for one and two-bedders is exceptionally low, perhaps compensating for the uncertainty in the eyes of some buyers. 

Despite being a new project with smaller unit sizes, Springleaf Residence’s entry pricing – plus its first mover advantage – suggests strong upside potential. 

Upcoming developments in the area

In the immediate vicinity of Springleaf Residence, two land plots have been earmarked for future residential use.

One of them (the pink plot) will be a mixed-use development with commercial units on the ground floor, while the other (the orange plot) will be fully residential. 

Typically, an increase in supply gives buyers more choices, which can affect demand for existing projects like Springleaf Residence. However, given the overall low supply of residential properties in the area, the impact may be limited; a trend seen with older 99-year projects nearby, which still performed well. 

Ultimately, the effect on prices will depend on several factors: the type of developments (whether HDB, EC, or private condos), how they are positioned, their launch pricing relative to Springleaf Residence, and the overall character of the future projects.

Summary of findings:

Over the past 10 years, non-landed private properties in D26 have outperformed other regions across Singapore, including the broader OCR. This is a good sign for Springleaf’s potential. 

Despite having the highest average indicative $PSF in the immediate area at $2,088, Springleaf Residence’s compact unit sizes keep the overall quantum relatively low. In fact, its entry prices are among the lowest in the district, even when compared to older resale developments. While the units are smaller, they are more efficient, with newer layouts like dumbbell designs. 

Springleaf’s current closest resale competitor is likely The Essence, a newer boutique development with similar positioning. However, Springleaf Residence may hold an advantage due to its proximity to the MRT and more comprehensive unit mix. Early transaction data from The Essence shows mostly profitable sales, suggesting potential for price resilience.

When compared to other new launches islandwide, Springleaf Residence has the lowest indicative starting $PSF. It also offers the most affordable entry price across all unit types except for the three-bedder, where it’s still the second most affordable. Compared to other D26 new launches in the Lentor area, Springleaf Residence remains the cheapest option.

The buyer profile in D26 is tilted toward existing private property owners, but HDB upgraders remain a substantial pool; especially those targeting homes in the $1.6 million to $2 million range, where Springleaf’s two- and three-bedders sit comfortably.

Looking ahead, two upcoming residential plots nearby may introduce competition, depending on their eventual pricing and property type. Still, supply in the immediate vicinity remains low, so the overall impact could be muted if demand persists.

All things considered, Springleaf Residence is a compelling option; on the basis of the competitive pricing first, and on the basis of its first-mover advantage second. From an owner-occupier perspective, some may also relish the thought of living in a low-density, landed area for such a low price point. 

If you’d like to get in touch for a more in-depth consultation, you can do so here.