The importance of nature cannot be overstated, especially in the face of climate change, which is leading to a warmer planet. In urban cities, which tend to be warmer due to restricted airflow and a lack of vegetation, trees provide shade that protects pedestrians from direct sunlight and lowers the surface temperature beneath the canopy.
Research also shows that exposure to nature has been linked to a host of benefits, such as the better mental health. For example, forest bathing, which involves slow and mindful walks through a wooded area helps to reduce stress and promotes relaxation.
Given its many tangible and intangible benefits, Singapore is committed to the incorporation of greenery into our urban spaces — from planting trees under the One Million Trees Movement to encouraging the implementation of green roofs and vertical green façades under URA’s Landscaping for Urban Spaces and High Rises (LUSH) programme. Singapore also has a Green and Blue Plan in place to protect our green and blue spaces and to integrate them with our urban environment (see Map 1).
Demand for new condos near nature
It is hence not surprising that condos near nature appeal to homebuyers. When One Marina Gardens was launched, a take-up rate of 38% was achieved during the launch weekend in April. One Marina Gardens is a 99-year leasehold condo located a stone’s throw away from Gardens by the Bay and Marina South MRT Station (see Map 2). Based on caveats lodged as at June 30, 454 units from the 937-unit condo have been sold at an average price of $2,951 psf, indicating a take-up rate of 48.5%.
Source: EdgeProp LandLens (as at 26 June 2025)
When Pasir Ris 8 was launched in July 2021, the condo achieved a take-up rate of 85%. All 487 units were sold by May 2024. From 2021 to last year, its average new sale price rose by 10.5% to $1,789 psf. Factors driving the demand and price increase include the condo being part of an integrated development—which includes Pasir Ris MRT Station, Pasir Ris Mall, and Pasir Ris Bus Interchange—as well as its proximity to Pasir Ris Park, White Sands, and Pasir Ris Central Hawker Centre.
Resale condos also benefit from proximity to nature
Our analysis of the average resale prices of 99-year leasehold condos near Jurong Lake Gardens, East Coast Park, Rifle Range Nature Park, and Bedok Reservoir Park indicates that resale condos also benefit from being near nature. The combined average resale price of such condos within a 1km radius of these parks is higher than that of their counterparts located within a 2km radius (see Table 1).
Jurong Lake Gardens
The Jurong Lake District (JLD) is planned to be Singapore’s second CBD, featuring vibrant mixed-use developments surrounded by lush landscapes. The existing Jurong Lake Gardens and Jurong Lake will also be integrated with these future developments. The 90-ha Jurong Lake Gardens comprises Lakeside Garden, Chinese Garden and Japanese Garden.
Based on caveats lodged so far this year, 99-year leasehold condos within a 1km radius of Jurong Lake Gardens averaged $1,617 psf; significantly higher than the average resale price of $1,383 psf achieved by similar condos within a 2km radius (see Chart 1).
Source: EdgeProp Market Trends (as at 24 June 2025)
Among the condos located within a 1km radius of Jurong Lake Gardens, The Lakeshore (48%) achieved the highest price growth since 2020. The average price for The Lakeshore has also more than doubled from the $488 psf average recorded at its launch in 2003 to stand at the current $1,492 psf (see Chart 2).
Source: EdgeProp Market Trends (as at 23 June 2025)
Demand for The Lakeshore could be attributed to its location near Lakeside MRT Station and Jurong Lake Gardens (see Map 3). The 848-unit condo is located along Jurong West Street 41 in District 22. From 2020 to last year, at least 25 units at The Lakeshore were sold each year. So far this year, 12 units have changed hands.
Furthermore, government plans for JLD to become Singapore’s secondary CBD have given prices and demand for condos in the area an uplift.
Source: EdgeProp LandLens (as at 23 June 2025)
The Lakeshore obtained its temporary occupation permit (TOP) in 2008, making it 17 years old. The average resale price of The Lakeshore ($1,492 psf) trails behind that of 99-year leasehold condos aged 11 to 20 years in District 22 ($1,686 psf) and islandwide ($1,692 psf) (see Chart 3). However, the price growth since 2020 for such condos in District 22 (32%) and islandwide (21.5%) is significantly below the 48% growth achieved by The Lakeshore.
Source: EdgeProp Market Trends (as at 24 June 2025)
Rifle Range Nature Park
Located in District 21, Rifle Range Nature Park is bounded by the Pan-Island Expressway and Rifle Range Road. The neighbourhood has seen the successful launches of The Reserve Residences and 8@BT. The Reserve Residences achieved a take-up rate of 71% during its launch in May 2023, while 8@BT achieved a take-up rate of 53% during its launch in September last year. Both 99-year leasehold condos are located within a 1km radius of Rifle Range Nature Park.
The demand for condos in the neighbourhood extends to resale condos too. So far this year, 99-year leasehold condos within a 1km radius of the park achieved a combined average resale price of $1,668 psf; significantly higher than the $1,412 psf achieved by those within a 2km radius (see Chart 4).
Source: EdgeProp Market Trends (as at 26 June 2025)
Among the condos within a 1km radius, Mayfair Gardens and Mayfair Modern stand out for having average resale prices above $2,000 psf. Both condos are located along Rifle Range Road and are a short walk from Rifle Range Nature Park, King Albert Park MRT Station, and Bukit Timah Plaza (see Map 4).
Additionally, both condos are less than five years old which could have contributed to their high average resale prices. Mayfair Modern obtained its TOP in 2022, while Mayfair Gardens obtained its TOP a year later.
Source: EdgeProp LandLens (as at 26 June 2025)
Since its launch in 2018, the average price of Mayfair Gardens has increased by 6.5% to $2,059 psf. Meanwhile, the average price of Mayfair Modern has risen by 5% to $2,142 psf since its launch in 2019 (see Chart 5).
Source: EdgeProp Market Trends (as at 26 June 2025)
East Coast Park
Stretching along the coastline of Singapore’s East Region, East Coast Park is likely one of the most popular parks in the country. The seaside park offers a wide variety of activities thus ensuring that there is something for everyone. Unsurprisingly, condos nearby command higher prices compared to those farther away.
Based on caveats lodged this year, 99-year leasehold condos within a 1km radius of East Coast Park achieved a combined average price of $1,447 psf; significantly higher than the $1,358 psf achieved by similar condos located within a 2km radius (see Chart 6).
Source: EdgeProp Market Trends (as at 26 June 2025)
The combined average price for condos within a 1km radius was boosted by Seaside Residences; the only condo to surpass the $2,000 psf threshold. This could be attributed to the condo obtaining its TOP in 2021, making it less than five years old. Since its launch in 2017, the average price for the condo has surged by 34.3% to $2,311 psf (see Chart 7).
Source: EdgeProp Market Trends (as at 26 June 2025)
The strong price performance could explain why sellers of units at Seaside Residences have chalked up two million-dollar profits since its launch. The record-high profit of $1.292 million involved a 1,733-sq ft unit on the 17th storey that was sold in April last year for $4.22 million ($2,435 psf). The seller had bought the unit in April 2017 for $2.928 million ($1,690 psf).
The second million-dollar profit came from a transaction concluded in September 2023. The seller had purchased the 1,679-sq ft unit in April 2017 for $2.89 million ($1,721 psf) and sold it for $4.06 million ($2,418 psf), resulting in a profit of approximately $1.17 million.
Located along Siglap Link in District 15, Seaside Residences is a short walk from East Coast Park, Siglap MRT Station, East Coast Seafood Centre, and Victoria School (see Map 5). The proximity to these amenities and the sea could have contributed to the condo’s stellar price performance and profitability.
Source: EdgeProp LandLens (as at 26 June 2025)
Bedok Reservoir Park
Based on caveats lodged with URA so far this year, the combined resale price of condos within a 1km radius of Bedok Reservoir Park average $1,520 psf, while those within a 2km radius average $1,534 psf. The higher combined average resale price for 99-year leasehold condos within the 2km radius, compared to those nearer the reservoir, is largely due to the high resale prices achieved by Bedok Residences, which skew the combined average.
The higher prices commanded by Bedok Residences could be attributed to the convenience and connectivity it offers. The condo is located directly above Bedok Mall and is just a short walk from Bedok MRT Station, Bedok Integrated Transport Hub, and Bedok Interchange Hawker Centre.
If Bedok Residences is excluded from the calculation, the combined average resale price of 99-year leasehold condos within a 2km radius of Bedok Reservoir drops to $1,461 psf; lower than the $1,520 psf achieved by its counterparts nearer to the reservoir (see Chart 8).
Source: EdgeProp Market Trends (as at 24 June 2025)
Among the condos located within a 1km radius of Bedok Reservoir, Waterfront Waves stands out, because a four-bedder fetched a profit of $1.85 million when it was sold for $4.28 million ($1,441 psf) in February. The seller had purchased the 2,971-sq ft penthouse in June 2009 for $2.43 million ($818 psf).
The eye-watering profit could be attributed to Waterfront Waves’ location adjacent to Bedok Reservoir, which offers residents unblocked views of the reservoir and the surrounding park (see Map 6). The subject unit has an exceptional view, as the block faces the reservoir directly. Additionally, the unit is located on the 15th storey, which is the top floor of the block.
Beyond the unbeatable views of Bedok Reservoir, residents of Waterfront Waves also enjoy the convenience of being a short walk from Bedok Reservoir MRT Station and a short drive to the Pan-Island Expressway. The 405-unit condo is located along Bedok Reservoir Road within District 16 and obtained its TOP in 2011.
Source: EdgeProp LandLens (as at 23 June 2025)
Waterfront Waves achieved a second million-dollar profit this year when another four-bedroom unit was sold for $2.48 million ($1,578 psf) in April, resulting in a profit of $1.005 million. The seller had purchased the 1,572-sq ft unit in August 2012 for $1.475 million ($939 psf) (see Table 2).
The lower profit from the April transaction could be due to the unit being located on the second storey, whereas the other unit was on the top floor. Additionally, the second-storey unit measures 1,572 sq ft, compared to the penthouse which measures 2,971 sq ft. Notably, both units are from the same block and stack.
Source: EdgeProp Buddy (as at 23 June 2025)
Both sellers benefited from the steady price growth achieved by Waterfront Waves in recent years. Since 2020, the average price for the condo has increased by 44.5%, supported by steady demand. Resale volume for the condo has remained above 10 transactions per year from 2020 to last year. So far, seven units have changed hands this year (see Chart 9).
Source: EdgeProp Market Trends (as at 24 June 2025)
Springleaf Precinct
In June 2022, URA published its plans for the Springleaf Precinct. The 33-ha site is surrounded by greenery. The Central Catchment Nature Reserve and Upper Seletar Reservoir lie to the west of the precinct, while Springleaf Nature Park and Lower Seletar Reservoir lie to its east. Additionally, Sungei Seletar cuts across part of the precinct (see Map 7).
Based on URA’s plans, the Springleaf Precinct has been zoned for mixed commercial, residential, park, and reserve uses. Some 2,000 new homes and more nature-based recreational opportunities for the public are expected to be developed in the precinct.
Accessibility to the precinct was greatly improved when Springleaf MRT Station on the Thomson-East Coast Line (TEL) opened in 2021. Residents near the MRT station are only one stop away from Lentor Modern, which is directly linked to Lentor MRT Station. The mixed development will feature a 90,000-sq ft mall with CS Fresh and ChildFirst Preschool as anchor tenants.
Springleaf MRT Station is also five stops away from the dual-line Caldecott MRT Station and six stops from the dual-line Stevens MRT Station – both are interchange stations which grant residents easy access to the Circle and Downtown Lines. Moreover, Springleaf MRT Station is nine stops from Orchard MRT Station, which serves as an interchange station for the TEL and North-South Line. Lastly, Springleaf Station is only three stops from Bright Hill MRT Station, which will become an interchange station upon completion of Phase 1 of the Cross Island Line in 2030.
The TEL line may also be expanded to connect with Terminal 5 of Changi Airport, linking those living near the TEL not only to the rest of the island but also to the entire world.
The Springleaf Precinct presents an opportunity for homeowners to live in a green oasis with excellent public transport connectivity. However, interested homebuyers face limited options because there are only three 99-year leasehold condos within a 1km radius of Springleaf MRT Station, namely Forest Hills Condominium, Roots @ Transit, and The Essence (see Map 8).
Furthermore, all three are small developments with fewer than 150 units. Forest Hills Condominium is the largest with 128 units, followed by The Essence (84 units) and Roots @ Transit (31 units). Forest Hills Condominium is also the oldest, having obtained its TOP in 2003. Roots @ Transit and The Essence obtained their TOP in 2019 and 2023, respectively.
Source: EdgeProp LandLens (as at 23 June 2025)
Despite its age, the average resale price of Forest Hills Condominium has risen by 36.5% since 2020 to $1,047 psf; attesting to the attractiveness of the Springleaf neighbourhood. Additionally, the two resale transactions for the condo that took place this year yielded profits of $460,000 and $580,000 for their sellers (see Table 3). Likewise, last year’s four resale transactions for Forest Hills Condominium were also profitable, achieving profits ranging from approximately $285,000 to $720,000.
Source: EdgeProp Buddy (as at 23 June 2025)
The Essence also chalked up a profitable transaction this year that resulted in a profit of approximately $194,800. Four other profitable transactions were recorded for the condo last year, with profits ranging from approximately $28,000 to $258,050 (see Table 4).
Source: EdgeProp Buddy (as at 25 June 2025)
Upcoming Springleaf Residence
Homebuyers who are keen to live in the Springleaf neighbourhood will be glad to know that more options are coming soon. A Government Land Sale (GLS) site in the neighbourhood was awarded to a joint venture between GuocoLand and Hong Leong Holdings in April last year for $779.6 million ($905 psf ppr).
To be named Springleaf Residence, the upcoming condo is located a short walk from Springleaf Nature Park, Sungei Seletar, and Springleaf MRT Station (see Map 9). The developer will build a sheltered walkway to link the condo to the MRT station. The Seletar Expressway and Upper Seletar Reservoir are also a short drive away.
Source: EdgeProp LandLens (as at 23 June 2025)
As part of the tender conditions, the former Seletar Institute on the site must be conserved. The developer plans to house 32 condo units and some common facilities, such as co-working spaces and a gym, within the former school. Including the 32 units in the conserved building, Springleaf Residence is expected to feature a total of 941 units. Other common facilities in the upcoming development include three main pools, numerous relaxing pavilions, a jogging track around GuocoLand’s signature Grand Lawn, and sky gardens equipped with BBQ pits and sitting areas.
The development is thoughtfully designed to complement the surrounding lush greenery and allow future residents to peacefully coexist with the wildlife from the nearby reservoirs and reserves. The developer plans to plant some native species to form a forest corridor within the upcoming development, which will act as a buffer from the nearby Seletar Expressway and help lower the temperature in the development.
Springleaf Residence is expected to greatly appeal to homebuyers looking for a tranquil haven without sacrificing connectivity to the rest of the island. Nature lovers are likely to appreciate its proximity to two reservoirs, a lake, and a park. Empty nesters from nearby landed homes, who are seeking to right-size, might also be attracted to the upcoming condo. Children of those living in the neighbourhood might also want to purchase a home in Springleaf Residence to live near their parents.
Relaunch of Upper Thomson Road (Parcel A) GLS site
The recent tender relaunch of the Upper Thomson Road (Parcel A) GLS site is expected to add an estimated 595 condo units and approximately 578,339 sq ft of commercial space to the area. The site is adjacent to the upcoming Springleaf Residence (see Map 10).
The first tender for the GLS site closed in June last year without any bids. The lack of bids could be because the successful bidder was required to develop long-stay serviced apartments on the site. The untested serviced apartment model may have deterred potential bidders. This requirement has been removed for the recent relaunch of the site, which might result in more bids during the relaunch.
However, interested homebuyers are likely to have to wait for about a year before the condo on the newly launched site is ready for sale, as the tender for the GLS site will close on October, 23.
Conclusion
There is no denying that nature brings many benefits to those who live near it or frequently engage with it. Singapore has long recognised the need to preserve our natural forests and incorporate greenery into our urban environment.
Owner occupiers keen to experience the many benefits of living near nature should consider the Springleaf Precinct. While the neighbourhood does not have many existing condos, the upcoming Springleaf Residence, located within the precinct, might meet all their requirements.
Additionally, our analysis of 99-year leasehold condos near Jurong Lake Gardens, East Coast Park, Bedok Reservoir and Rifle Range Nature Park shows a positive correlation between the average resale price of these condos and their proximity to nature. Condos near nature have also recorded higher price growth than those located further away, making such condos potential investment properties.
