In contrast, Canberra Crescent Residences, despite a lower average price of $1,974 psf, lacks MRT connectivity and saw a weaker take-up rate of just around 40%, observes DBS.
"Springleaf Residence enjoys a first-mover advantage in the area, where current residential supply is limited, with only a few small-scale developments of fewer than 150 units each," says DBS.
In addition, DBS points out that there is another Government Land Sales (GLS) site next to Springleaf Residence that could yield 595 units and is now open for tender.
GuocoLand could potentially double down on Springleaf, adopting a similar strategy to what it has implemented in Lentor, suggests DBS.
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"GuocoLand continues to deliver strong results across its residential projects, with successful launches at Lentor and now Springleaf.
"Backed by a sizable landbank that could yield around 2,200 units, such as sites at Margaret Drive, Faber Walk, Tengah Garden, which offers a similar first-mover dynamic, and River Valley Green, the group remains well-positioned for sustained sales momentum in the quarters ahead," says DBS.
GuocoLand shares closed at $1.76 on Aug 18, unchanged for the day but up 22.22% year to date.
