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Thread: The Florence Residences S$842 psf ppr

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    Default The Florence Residences S$842 psf ppr

    Re-visit: Little History Review About The En-bloc of Florence Regency To The Florence Residences Condo

    We are formerly known as Florence Regency at Hougang Avenue 2, now named as The Florence Residences, with Chinese name as 悦湖苑. Previously it was finally been sold to Logan Property Developers, a Chinese developer. This collective sale was marked by a deal worth S$629 million for the transfer of ownership of the property. The sale comes after the rejection of bids exceeding the S$600 million reserve price set by the owners of The Florence Residences Condo (Former Florence Regency)
    The public tender for the en block sale of this property had closed with 3 top bidders refusing to increase their bid prices to meet the stipulated valuation in the collective sale agreement by law firm Lee $ Lee. The collective sale agreement that no sale price lower than the valuation price of The Florence Residences Condo should be accepted. This requirement prompted drove JLL to court other interested developers to ensure that the bid attained the deal under the agreement before the ten weeks of the close of the public tender are over.
    According to the 2014 master plan, The Florence Residences Condo that sits on a 386, 236 sq ft is zoned for development of the residential property and has a GPR of 2.8. With considerations to the current estimated differential premiums worth S$288.6 million which is payable to the government to add the lease period to 99 years including the development of the land to a GPR of 2.8, the land price of the Florence Residences Condo translates to around S$842 psf ppr.
    The site housing The Florence Residences Condo becomes the second site owned by Logan Property after it broke into news following their joint record-breaking bid worth $1.003 billion with Nanshan Group for ownership of the 21, 109 square meters site situated off Stirling Road. In fact, it was the first time for a purely residential site in the GLS programme to cross the billion-dollar mark.
    The Florence Residences Hougang is located next to a bus interchange of Hougang Mall and near Hougang MRT station. Also, the Kovan MRT station along Upper Serangoon Road is just a walking distance away from the Florence Residences.

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    Default




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    Most recent update on this project is that the Florence Residences will launch in February 2019. The perspectives (lots of them) and factsheet are out, but still pending floor plans and site plan. The exact dates for the Preview and opening of the Florence Residences showflat are not finalised yet, likely after Chinese New Year.

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    Default Re: The Florence Residences S$842 psf ppr

















    For images:



    For videos:

    [MEDIA]<url of video>[/MEDIA]

    or

    [YOUTUBE]<YouTube video code>[/YOUTUBE]
    Last edited by Arcachon; 09-02-19 at 17:24.

  7. #7

    Default The Florence Residences - first mega launch in 2019

    The Florence Residences is the first mega launch in 2019! The reaction of buyers will reflect the sentiment of the market.

    The en bloc fever over the past few years saw many HUDC projects collectively sold and redeveloped into new condominiums. District 19, specifically in Hougang, will have its final 2 HUDC developments make way for brand new mega condos: The Florence Residences in Hougang Avenue 2 and Riverfront Residences in Hougang Avenue 7. Florence Residences is within proximity to Kovan, a lively neighbourhood comprising a bowling centre,Heartland Mall, great food including popular Ponggol Nasi Lemak and Lola’s Café, and not forgetting Kovan MRT which is an 8 minute walk away.

    With a price tag of $629m for buying Florence Regency, Florence Residences is targeted to launch at an average price of $1,450 psf. When compared against other projects in District 19, this price is relatively competitive. In fact, the average price is even lower than the last new launch in the same district, Affinity At Serangoon in Serangoon North.

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    Default Re: The Florence Residences - first mega launch in 2019

    Quote Originally Posted by rsbeginner View Post
    The Florence Residences is the first mega launch in 2019! The reaction of buyers will reflect the sentiment of the market.

    The en bloc fever over the past few years saw many HUDC projects collectively sold and redeveloped into new condominiums. District 19, specifically in Hougang, will have its final 2 HUDC developments make way for brand new mega condos: The Florence Residences in Hougang Avenue 2 and Riverfront Residences in Hougang Avenue 7. Florence Residences is within proximity to Kovan, a lively neighbourhood comprising a bowling centre,Heartland Mall, great food including popular Ponggol Nasi Lemak and Lola’s Café, and not forgetting Kovan MRT which is an 8 minute walk away.

    With a price tag of $629m for buying Florence Regency, Florence Residences is targeted to launch at an average price of $1,450 psf. When compared against other projects in District 19, this price is relatively competitive. In fact, the average price is even lower than the last new launch in the same district, Affinity At Serangoon in Serangoon North.
    TGR
    9/2/19
    #08-10 sold
    #05-40 sold

    10/2/19
    #05-10 sold
    #07-40 sold

    12/2/19
    #13-10 sold

    13/2/19
    #10-14 sold

    16/2/19
    #11-14 sold

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    Default Re: The Florence Residences S$842 psf ppr

    Florence Sold units
    06-45
    18-79
    12-59
    12-60
    05-60
    08-42
    08-30
    05-53
    05-34
    15-29
    10-45
    08-08
    15-51
    10-51
    05-58
    08-51
    08-34
    06-30
    09-51
    08-46
    10-16
    06-39
    03-60
    08-45
    06-12
    11-55
    07-07
    01-54
    12-46
    06-04
    10-07
    08-44
    17-25
    09-20
    11-51
    08-54
    07-04
    05-54
    12-34

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    Default Re: The Florence Residences S$842 psf ppr

    Florence

    1bedroom

    1+1 (527 sqft)

    #15-02 $809K
    #10-45 $767k
    #05-17 $753k
    #08-17 $765k



    2 compact (635 sqft)

    #01-05 $894k
    #02-05 $898k
    #08-05 $922k
    #17-05 $958k

    #01-06 $898k
    #02-06 $902k
    #08-06 $930k
    #17-06 $966k
    $18-06 $974k

    #01-09 $862k
    #02-09 $870k
    #08-09 $894k
    #17-09 $930k

    2 Deluxe (646 sqft)

    #01-54 $924k
    #02-54 $928k
    #08-54 $952k
    #17-54 $1,032k
    #18-54 $1,087k

    2 + S

    3 compact

    3 Deluxe

    #08-30 $1,525,000 1540psf
    #17-30 $1,603,000

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    Default Re: The Florence Residences S$842 psf ppr

    1535 psf

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    Default Re: The Florence Residences S$842 psf ppr

    Pricing looks not readily digestable for the area given so many recently launched projects in the vicinity.

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    Default Re: The Florence Residences S$842 psf ppr

    Florence Sold units
    06-45
    18-79
    12-59
    12-60
    05-60
    08-42
    08-30
    05-53
    05-34
    15-29 swopped to 16-51
    10-45
    08-08
    15-51
    10-51
    05-58
    08-51
    08-34
    06-30
    09-51
    08-46
    10-16
    06-39
    03-60
    08-45
    06-12
    11-55
    07-07
    01-54
    12-46
    06-04
    10-07
    08-44
    17-25
    09-20
    11-51
    08-54
    07-04
    05-54
    12-34
    09-44
    08-49
    13-32
    05-63
    05-26
    01-77
    01-45
    09-45
    15-25
    02-60
    07-34
    09-28
    06-61
    01-44
    12-45
    12-29
    08-66
    04-41
    06-54
    Last edited by Arcachon; 02-03-19 at 15:54. Reason: 58 sold

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    Default Re: The Florence Residences S$842 psf ppr

    buyers been flocking to affinity, riverfront and tre ver ahead of this launch it appears.

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    Default Re: The Florence Residences S$842 psf ppr

    Quote Originally Posted by bargain hunter View Post
    buyers been flocking to affinity, riverfront and tre ver ahead of this launch it appears.
    yeah so it seems... 58 units is pretty low... maybe they should price at $1,400 psf (which was what i suggested in the past)

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    Default Re: The Florence Residences S$842 psf ppr

    Quote Originally Posted by sginvestor View Post
    yeah so it seems... 58 units is pretty low... maybe they should price at $1,400 psf (which was what i suggested in the past)
    No worry they will price below $13xx 2 years later

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    Default Re: The Florence Residences S$842 psf ppr

    June 2018 10%
    Mar 2019 3%

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    Default Re: The Florence Residences S$842 psf ppr

    seems like this is project specific. other already launched projects seem to be doing ok this weekend. lol.

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    Default Re: The Florence Residences S$842 psf ppr

    Quote Originally Posted by bargain hunter View Post
    seems like this is project specific. other already launched projects seem to be doing ok this weekend. lol.
    TFR pricing is just nice, you want cheaper go RFR if pay more go Affinity, want better go TGR.

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    Default Re: The Florence Residences S$842 psf ppr

    https://www.edgeprop.sg/property-new...launch-weekend

    "Since its launch last June, 460 units (43.7%) at Affinity at Serangoon have been sold. Over the past weekend (March 2-3), 30 units were sold. Average price achieved at Affinity at Serangoon is $1,475 psf."
    "At the 1,427-unit Riverfront Residences, 35 units were sold last weekend, bringing total sales to date to 935 units (65.5%). Average price of units sold is $1,350 psf."

    Affinity + Riverfront alone already outsold new launch Florence in the last 2 days.

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    Default Re: The Florence Residences S$842 psf ppr

    Florence Residences sells close to 60 units on launch weekend

    Mon, Mar 04, 2019


    THE property market has not yet fully recovered from last year's onslaught of cooling measures, going by first weekend sales at one of this year's most-anticipated condo launches.

    The Florence Residences in Hougang released 200 units for its first phase of sales on Saturday, of which close to 60 units or 30 per cent were sold.

    The 1,410-unit condo project is this year's first mega launch. Developed by Logan Property, Florence Residences sits on the site of Florence Regency, the privatised HUDC estate that was sold en bloc in October 2017.

    In February, Logan Property (Singapore) executive director Chng Chee Beow had told The Straits Times that between 400 and 500 units were expected to be released on March 2, depending on interest during the preview weekend.

    One marketing agent suggested that the smaller release "is just a matter of the developer testing the market given the way things have been for the past few months since cooling measures". The sales are "decent", he added.

    In January, Allgreen Properties’ Fourth Avenue Residences sold 70 out of 168 units released on its launch weekend. In November last year, Oxley Holdings' Kent Ridge Hill Residences moved 116 units out of 250 launched on the first weekend.

    A Logan Property spokesman told The Business Times: "We're confident of our product, especially with the two MRT stations (Kovan MRT and the future Cross Island Line around the project."

    The average selling price was close to S$1,400 per sq foot (psf), on the lower end of the S$1,400 psf to S$1,500 psf range that Mr Chng had earlier indicated. DBS research analysts estimate Logan's breakeven price is S$1,340 psf.

    Logan Property has hired five agencies to market the project - PropNex, ERA, SRI, OrangeTee & Tie and Huttons Asia. Almost all of the sales were booked on Saturday.

    PropNex chief executive officer Ismail Gafoor told BT: "Today, buyers and investors still have plenty of choices within that radius and vicinity, namely Riverfront Residences, Affinity at Serangoon, The Garden Residences and Tre Ver."

    More than 200 units have been sold at these four projects in the last four weeks after details of the upcoming Cross Island MRT line were revealed at the end of January, despite February being the Chinese New Year period. "Affinity sold close to 100 units in the last four weeks, Riverfront more than 50, Tre Ver more than 50, Garden more than 20."

    Mr Ismail added: "Existing developers are still competing aggressively at sensitive pricing and there are only so many buyers in any particular vicinity." PropNex closed almost half of the sales for Florence Residences with most of the buyers being home upgraders looking at two- and three-bedroom units, Mr Ismail said.

    Two smaller projects, the 92-unit Nyon condo at Amber Road and The Essence, an 84-unit condo off Sembawang Road also clocked their first sales over the weekend. A spokesman for Nyon declined to comment on sales.

    International Property Advisor chief executive Ku Swee Yong told BT on Sunday: “For yesterday's launch of Florence Residences, Nyon and The Essence, I would say that these weak sales figures are definitive confirmation of the over-supplied situation in the residential market.”

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    Default Re: The Florence Residences S$842 psf ppr

    Quote Originally Posted by bargain hunter View Post
    seems like this is project specific. other already launched projects seem to be doing ok this weekend. lol.
    This project will join The Woodleigh Residences as another flop fail launch ha ha.

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    Default Re: The Florence Residences S$842 psf ppr

    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

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    Default Re: The Florence Residences S$842 psf ppr

    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  25. #25
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    Default Re: The Florence Residences S$842 psf ppr

    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  26. #26
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    Default Re: The Florence Residences S$842 psf ppr

    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  27. #27
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    Default Re: The Florence Residences S$842 psf ppr

    New Please, yes you may just pay more only.

    The buyer will need at least 10 years to understand

    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

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