(All prices for The Florence Residences  displayed here are for reference purposes. Prices are subject to change from time to time without prior notice. This webpage cannot be held responsible for any inaccuracies, omissions, and/or disputes.)

The former Florence Regency site at Hougang Avenue 2 was bought by Hong Kong-listed developer Logan Property for $629 million, through an en bloc sale under a private treaty.

The site area is 36,161 sqm (389,237 sqf). With a plot ratio of 2.8, the site carries the maximum Gross Floor Area of 101,244 sqm (1,089,863 sqf). After the lease top-up cost, the estimated land price is $917 psf per plot ratio. After construction costs and other costs and taxes are added, the breakeven for the project is $1,303 psf.

In the Year 2017, according to Mr. Chng, Logan Property’s executive director, Florence Residences is likely to be priced sensitively around the range of $1,400 to $1,500 psf. In that order, the indicative launch price of a one bedroom starts from $678,000, and two-bedroom starts from $878,000. Three bedrooms, which account for about 27% of all units, will be priced at, $1.248 million. The price of Florence Residences ‘ bedroom units is likely going to be $1.7 million and five bedrooms from $2.449 million.

Its strategic location and an ongoing increase in Kovan property prices make it an attractive investment option for the future. Investors are drawn to the development’s competitive price and facilities.

Last Updated: January 22, 2024