Springleaf now, or wait for Parcel A?
Tell me your budget and unit type. I'll compare what's left at Springleaf with Parcel A's likely pricing, in numbers.
WhatsApp James →Springleaf Residence reset the area at $2,175 psf. But the market isn't standing still. Upper Thomson Parcel A is arriving with a 17% higher land cost. For HDB upgraders, this isn't just a new building; it's a permanent shift in the District 26 price floor.
You're looking at two new launches, same stretch of Upper Thomson Road, same Springleaf MRT station at the doorstep. One is nearly sold out. One hasn't opened its showflat yet. The question every HDB upgrader in Ang Mo Kio, Bishan, and Yishun should be asking right now is not "which one is nicer". It's "which one makes financial sense for my timeline?"
Before you book a viewing, there are three things most buyers in this corridor haven't worked out:
- Upper Thomson Parcel A's land cost is 17% higher than Springleaf Residence's, and that premium will feed straight into its launch price, likely $2,250 to $2,400 psf according to ERA, PropNex and Knight Frank.
- Springleaf Residence was 95% sold by late 2025. What's left is mostly 5-bedroom units and the conserved heritage block, not the everyday 3-bedders most upgraders want.
- Upper Thomson Parcel A, to be developed by Wee Hur Holdings, is a mixed-use site with about 595 homes and 2,000 sqm of commercial space. That's quite different from Springleaf Residence's purely residential project.
This guide covers all three. No showflat hype. Just the land economics, the timeline, and the honest buyer verdict.
Update, October 2026
Springleaf Residence's Conservation Series: a larger 3-bedroom, checked
- What it is: eight 3-bedroom + flexi units of 1,259 sqft, from $2,732,000, or $2,170 psf. Six of the eight were still available in early October 2026.
- What stands out: a 12.1m balcony running along both the master bedroom and the living room, a flexi room for a study or home office, lift access to the doorstep, and the project's sheltered link to Springleaf MRT on the Thomson-East Coast Line.
- What to check: under the 2023 floor-area rules the balcony counts in the 1,259 sqft. Ask how much of the area is indoors, and work out the price per square foot of indoor space before comparing it with other 3-bedrooms. Check the facing, and whether the flexi room has a window.
- Who it suits: families who want outdoor space and a quieter setting by the nature reserve. Skip it if you want the most indoor space for your money.
Source: developer sales information, October 2026. Availability changes; ask for the current list. Other projects with units left are on Price Check.
Deep DiveThe Mechanics: Land Cost, Pricing Math, and What the Gap Means+ Read →− Collapse
The Mechanics: Land Cost, Pricing Math, and What the Gap Means
Layer 1: The Land Cost Differential
GuocoLand and Hong Leong bought the Springleaf (Parcel B) site in April 2024 for $779.6 million, or $905 psf ppr. Wee Hur won Parcel A at $1,062 psf ppr. Approximately 17% higher than the land rate paid for the adjacent Springleaf Residence site.
This differential matters because it sets the floor for viable launch pricing. Parcel A's higher land cost, combined with rising construction costs, means Wee Hur needs a higher average launch PSF to achieve a workable margin. Industry consensus puts this at:
| Analyst / Source | Projected Launch PSF for Parcel A |
|---|---|
| ERA Singapore | At least $2,300 psf |
| PropNex | Hovering around $2,250 psf |
| Knight Frank (Leonard Tay) | Starting from ~$2,300 psf, avg likely above $2,400 psf |
| SRI (Mohan Sandrasegeran) | $2,200 to $2,300 psf |
Sources: EdgeProp, 99.co, HardwareZone, October/November 2025 analyst commentary.
Layer 2: The Mixed-Use Dimension
Unlike Springleaf Residence, which is purely residential, Parcel A includes approximately 2,000 sqm of commercial space. This means ground-floor retail and a childcare centre integrated into the development. For upgrading families, this is a genuine convenience uplift. But it also means higher development complexity, which contributes to the higher land cost and likely launch PSF.
Layer 3: The Unit Count Difference
Springleaf Residence has 941 units across 5 towers, plus 32 units in a conserved heritage block. Upper Thomson Parcel A has about 595. It's noticeably smaller, which usually helps resale prices because fewer units compete when owners sell.
James's Note: I've run the numbers on both. Parcel A's 17% higher land cost isn't automatically bad for buyers. A smaller project at a higher psf in a proven area, with Springleaf Residence already showing the demand, can outperform a bigger project that had to price sharply to clear volume. It comes down to how long you'll hold and who your eventual buyer is. For a family buying to live in, Parcel A's shops and smaller scale may be the better trade.
Deep DiveData and Performance: What We Know From Springleaf's Launch+ Read →− Collapse
Data and Performance: What We Know From Springleaf's Launch
Springleaf Residence's August 2025 launch is now the most important data point for any buyer evaluating the Upper Thomson corridor. Here is the honest reading.
TheUpper Thomson corridor has completed its proof-of-concept phase. With the Springleaf MRT now operational, what was once a quiet landed enclave is becoming a prime destination for HDB upgraders seeking a blend of nature and urban connectivity.
What the data confirms:
Springleaf Residence's sales make it the second best-selling project by number of units in 2025, after ParkTown Residences. Sales at Springleaf Residence were mostly transacted at less than $2 million, accounting for approximately 57% of all new homes sold that month. This signals a buyer base dominated by HDB upgraders and local residents, not speculators. A healthier ownership structure for long-term price stability.
Buyers included local private property residents in the Springleaf area, as well as HDB upgraders from nearby estates. Between 2022 and 2025, some 4,800 flats in nearby HDB estates attained their minimum occupation period, according to ERA Research. Yahoo! That MOP pipeline feeds directly into demand for both Springleaf Residence (the few remaining units) and the upcoming Parcel A launch.
Between 2026 and 2029, Ang Mo Kio, Bishan, Woodlands, and Yishun are expected to see a combined total of over 9,000 units completing their MOP. Bolstering the pool of potential HDB upgraders in the coming years. Era
What the data doesn't yet confirm:
Springleaf Residence's resale premium above $2,175 psf has not been established. The project TOPs in 2029. Yield is speculative until rental demand in the Springleaf estate matures post-completion. Buyers pricing in significant capital appreciation above launch levels should model conservatively.
The broader context from UOB Research: Singapore's overall private residential index gained approximately 3.4% in 2025, marking the ninth consecutive year of gains. UOB forecasts 3M SORA at 1.32% by end-2026. A moderating rate environment that supports affordability but does not guarantee price acceleration.
Your budget, your timing, in writing.
I'll work through your budget, loan, timing and exit in a free written Property Decision Review. No obligation.
Get my free review →Deep DiveSpringleaf Residence vs Upper Thomson Parcel A: Side-by-Side+ Read →− Collapse
Springleaf Residence vs Upper Thomson Parcel A: Side-by-Side
| Springleaf Residence | Upper Thomson Parcel A | |
|---|---|---|
| Developer | GuocoLand / Hong Leong | Wee Hur / GSC Holdings |
| Tenure | 99-year leasehold | 99-year leasehold |
| Units | 941 (5 towers + heritage block) | ~595 |
| Mixed-use | No | Yes (~2,000 sqm commercial) |
| Land cost (psf ppr) | $905 | $1,062 |
| Launch PSF | $2,175 avg (actual) | $2,250 to $2,400 (projected) |
| Availability | ~5% remaining (5-bed + heritage) | Preview expected Q4 2026 |
| MRT distance | 2-min sheltered walk | ~5-min walk |
| TOP (est.) | 2H 2029 | ~2030 to 2031 |
Sources: GuocoLand launch data (Aug 2025), EdgeProp, ERA, PropNex, 99.co (Oct-Nov 2025)
Deep DiveThe 3 Questions to Ask Before Committing+ Read →− Collapse
The 3 Questions to Ask Before Committing
Question 1: Are you buying Springleaf Residence's remaining units, or waiting for Parcel A?
What's left at Springleaf Residence is 5-bedders and a few 3-bedders in the conservation block. If you need a 3-bedder, you're probably waiting for Parcel A. If a 5-bedder works for you, the Springleaf conservation block at $2,175 psf may be better value than a new Parcel A unit at $2,300+ psf, especially with the heritage block's character and roomier layouts. Compare total prices: a Springleaf conservation 3-bedder against a Parcel A 3-bedder at projected pricing, with your CPF worked in.
Question 2: What does your TDSR look like at a Parcel A entry price?
A 3-bedroom unit in Parcel A at $2,300 psf and approximately 1,000 sqft will price at around $2.3 million. At 75% LTV (assuming no existing property loans), the loan quantum is ~$1.725 million. At a stressed rate of 5.5% over 25 years, the monthly instalment is approximately $10,700. Your gross monthly household income needs to be at least $30,000 to pass TDSR at that stress level. Factor in any existing HDB loan balance. If not fully discharged, it counts against your TDSR.
At a projected $2.3M quantum for a 3-bedroom unit in Parcel A, your TDSR (Total Debt Servicing Ratio) will be the deciding factor. Given that SORA is projected to hit 1.32% by end-2026, your choice between a fixed or floating rate could be the difference in passing your bank stress test."
Question 3: Who is your exit buyer in 10 to 15 years?
The Springleaf precinct's resale buyer in 2036 to 2040 is likely the same profile as today's buyer: HDB upgraders from Ang Mo Kio, Bishan, Yishun, and Woodlands. The resale price floor depends on the MOP pipeline continuing to produce upgraders. And on the TEL corridor remaining attractive relative to competing options. This is a reasonable but not guaranteed thesis. Buyers who need the exit to fund retirement should not over-lever into this precinct.
Who each project suits, the upgrader pros and cons, and the mixed-use MCST questions to ask at the Parcel A showflat are in Part 2: the upgrader guide.
FAQ: Springleaf vs Parcel A
Why will Parcel A cost more than Springleaf Residence?+ Read →− Hide
Is Springleaf Residence sold out?+ Read →− Hide
Are Springleaf and Parcel A served by the same MRT?+ Read →− Hide
Should I buy now or wait for Parcel A?+ Read →− Hide
Are both projects GFA harmonised?+ Read →− Hide
Sources+ Show all 5 →− Hide
- URA Government Land Sales programme: Upper Thomson Road Parcels A and B tender results
- GuocoLand and Hong Leong Holdings: Springleaf Residence launch, August 2025
- ERA, PropNex and Knight Frank analyst estimates for Parcel A launch pricing, as reported by EdgeProp and 99.co, October to November 2025
- LTA: Thomson-East Coast Line, Springleaf station (TE4)
- BCA and Building Maintenance and Strata Management Act (BMSMA): MCST and mixed-use strata framework
This article is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Property investments involve risk. Past performance is not indicative of future results. Readers should seek independent advice from licensed professionals before making any property or financial decision. James Ong is a licensed real estate salesperson (CEA Reg No. R008385F) with PropNex Realty Pte Ltd and is not a licensed financial adviser.
James Ong | CEA Reg No. R008385F | PropNex Realty Pte Ltd · WhatsApp wa.me/6591111173
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