One of the hottest development in Singapore that sold more than 60 units during the ‘Circuit Breaker’ lock-down period. The Florence Residences presents home buyers with great value and decent investment option, all in a location that is set to massively benefit from the government masterplan. Is this development a worthwhile new launch condo to look at?
What is The Florence Residences price at the moment?
The Florence Residences price starts from $748k for a 1 bedroom unit of 484sqft and 2 bedroom units here are priced from $990k onwards. The average PSF ranges around $1450psf to $1650psf for most of it’s available units.
1 + Study
2 + Study
* Prices and Discounts indicated here are subject to developer changes. Please check with us to be sure.
A luxurious club condo concept development, The Florence Residences is one of the three blockbuster new launches in the north-east that is extremely popular in the mass market new launch condominium segment.
Replacing the former Florence Regency, Florence Residences is a 99-year leasehold condo sitting on a huge site area of 389,236sqft. Offering extensive lifestyle homes, majority of the units here are sitting on North-South facing orientation, presenting plenty of unblocked views (towards low rise, landed homes and Hougang Stadium) for residents to enjoy from.
Discover why this is a top-choice development for property buyers seeking a good balance between location, price and investment potential.
The Florence Residences
81 – 97 Hougang Ave 2
99 Years fr Dec 2018
No. of Units:
1 to 5 Bedroom Apartments
9 Blocks of 18 Storey Apartments
474 / 484
1 + Study
527 / 667
624 – 807
646 / 667 / 850
2 + Study
700 / 753 / 872 / 926
893 – 1206
990 – 1281
1270 – 1582
1389 / 1464 / 1701
1668 / 1679 / 1905 / 1916
Being a mega development with a large number of residential units, will the maintenance fee here be low? What is the indicative monthly maintenance fee at The Florence Residences?
Monthly maintenance fees at The Florence Residences is very affordable, starting from only $200 for its 1 bedroom units and it is only $240 to $280 for the family oriented sized 3 bedroom units.
$240 / $280
* The estimated monthly maintenance fees are currently indicative, and may be subjected to changes.
Bonus – Pricing Info Analysis for Investors:
Land Price – $842psf ppr
The Florence Residences site was acquired by Logan Property via a collective sale under private treaty back in October 2017. This site is the former privatised HUDC estate – Florence Regency, which consisted of only 336 residential units.
What was the land price paid by the developer to win Florence Residences land parcel?
The developer secured the site for Florence Residences at a price of $629million. This equates to a land price of about $842psf ppr (per plot ratio), after factoring in the estimated differential premium of $288million to top up the lease of the site back to 99 years.
In October 2017, Florence Regency finally concluded it’s collective sale under a private treaty Chinese developer Logan Property (Singapore) agreed to match the independent valuation of $629 million for this huge 389,239sqft site located along Hougang Ave 2.
The 336 units estate had previously saw it’s en-bloc tender close on 27 September 2017 without any offers matching the $629 million indicated by independent valuer Colliers International.
This prompted the marketing agent JLL to quickly court other developers in a bid to close the deal, which was paid off when Hong Kong listed Logan Property decisively came in with the closing offer.
With each former owner receiving between $1.84 million and $1.89 million, the land price of The Florence Residences works out to be $842psf ppr (per plot ratio), after factoring in estimated differential premiums of $288.6 million to top up the lease back to a fresh 99 years lease from the state government.
At present, the land cost of The Florence Residences is sitting on relatively good value in comparison to it’s other nearby competitor developments.
Here’s the land cost comparison of The Florence Residences against its other nearby competitor developments:
Land Price (psf ppr)
The Woodleigh Residences
The Garden Residences
Sengkang Grand Residences
The Florence Residences
Affinity at Serangoon
The Tre Ver
Located in a very established matured estate, The Florence Residences sits along Hougang Ave 2 and is situated right next to a landed housing enclave.
Being within 10 minutes walk away from Kovan and Hougang MRT, this new development is blessed with a location that offer great conveniences, from transportation to amenities and F&B choices.
Hougang (Upcoming Cross Island Line station)
The Florence Residences is blessed to be within minutes walking distance to 2 MRT stations – Kovan and Hougang MRT.
And what’s more, the upcoming Cross Island Line will see Hougang MRT becoming an interchange station, making connectivity travel towards the East and West of Singapore even more seamless!
The Florence Residences is close to a number of popular schools. The most notable being Rosyth School, which is located in Serangoon North.
Rosyth School is one of the only nine primary schools in Singapore that offers the Gifted Education Program, hence making it a top choice school that parents try to get their children into.
Image Source – LTA
Scheduled to be completed by 2030, the upcoming Cross Island Line is set to transform transport connectivity in Hougang. Spanning from eastern Singapore at Loyang, this ambitious MRT line has been earmarked to eventually end in the western part of the Singapore. When fully completed, travel time from the north-east to the west will be significantly improved.
The Florence Residences is just mere minutes walk away from Hougang MRT Station, which has been confirmed to become an interchange station between the existing North-East Line and the upcoming Cross Island Line. This is massive potential, as the MRT effect may well easily drive up property value and demand here!
Already announced in the government’s masterplan, a new integrated transport hub will be developed at Hougang MRT station. Coinciding with Hougang MRT station being set to become an interchange station, this upcoming integrated development with residential and commercial component will definitely set a high bar in property buyer’s interest.
Over at Buangkok MRT station today, the new launch integrated development – Sengkang Grand Residences is already being transacted at an average of between $1700-$1800psf. And the future integrated development at Hougang is certainly going to see higher prices and psf.
This presents a huge potential window in the current Florence Residences prices.
The land cost between The Florence Residences and Sengkang Grand Residences can also be compared here.
Two exciting industrial estate/park rejuvenation and development is also set to lock more investment potential for Florence Residences owners.
Concrete plans has been announced in the URA Masterplan to envision a next-generation industrial park in the upcoming Lorong Halus Industrial Park, which is merely a stone’s throw away from Florence Residences. Over 100 hectares in size, this future industrial park will be developed to become a major employment centre and provide more jobs closer to homes in the north-east.
The existing next door Defu Industrial Park is also set to be progressively revitalised into a modern industrial park with new complexes being developed, and will look to house various strategic high-tech industries.
The Florence Residences has labelled itself a ‘Club Condo’ equipped with 128 fantastic facilities spanning over 12 amazing clubs. Every facility here has been designed to surpass expectations, with reveling lifestyle activities to keep residents refreshed every single day.
The landscaping concept is also unique and appealing, with it being strongly planned and inspired by a Biophilia design (love of nature).
Adding to the luxurious homes, concierge services have also been included in this condominium for the maximum indulgence and convenience for every resident’s needs.
Experience The Florence Residences yourself by viewing the Showflat today.
* Please note that Covid-19 safe-distancing policies are still in place. Kindly register/book your visit with us prior to your visit.
This project is blessed to be able to have it’s showflat built right next to the actual development site.
So where is The Florence Residences showflat located at?
The Florence Residences showflat is located between Hougang Ave 2 and Hougang Ave 10, and is just right opposite the actual site where Florence Residences is undergoing it’s construction. The nearest MRT to reach the showflat is Hougang MRT, where it is a 8 minutes walk away. For drivers, the carpark entrance is along Hougang Ave 10, which is directly opposite the Hougang Stadium.
Here’s the map of the showflat location:
The Florence Residences is developed by Logan Property, an established Chinese developer.
Founded in 1996, Logan Property Holdings Company Limited is an integrated property developer focusing on residential property development in China, mainly the Guangdong Hong Kong-Macao Greater Bay Area.
It has been listed on the main board of the Stock Exchange of Hong Kong since 2013.
The Group has Grade-A qualifications in property development, general contracting of construction as well as engineering design, and is one of the best property developers in China.
In 2020, the Group was ranked 22nd in the China Top 100 Real Estate Developers and 3rd in the Top 10 Most Profitable Companies., with its brand and overall strength being highly recognized by the market.
Entering the local Singapore market with their successful first foray on Stirling Residences launch, The Florence Residences is their second development here, which they will look to set another high benchmark standard.
Current Ongoing Projects:
Get instant info from Developer Sales Team
Get instant info from Developer Sales Team