The Florence Residences Price

Savvy property buyers will certainly want to know how the current unit prices are pegged to the developer’s land cost.

Let’s help you find out with more facts and figures..

You may already know that Florence Residences is the new launch development that replaces the former privatised HUDC estate – Florence Regency.

The successful collective sale for the estate was closed under a private treaty by Logan Property in October 2017 for a sum of $629 million.

So, what exactly was the land price paid by the developer to acquire this massive 389,239sqft site?

The land price of The Florence Residences works out to be about $842psf per plot ratio, after factoring in the estimated differential premium of $288 million paid by the developer to top-up the lease back to 99 years.

This land rate looks pretty reasonable when compared to the many other options currently available in District 19 (Sengkang, Hougang, Kovan, Serangoon area).

Here’s a list of the existing new launch condos in the area and their land price for your easy reference:

• Riverfront Residences ($706psf ppr)
• Affinity at Serangoon ($835psf ppr)
• The Florence Residences ($842psf ppr)
• Sengkang Grand Residences ($923psf ppr)
• The Garden Residences ($965psf ppr)

We’ve of course excluded the 2 Executive Condominiums (Ola and Piermont Grand) in District 19 for a fairer comparison.

By looking at the list above, you will be able to immediately see that Florence Residences is sitting on an advantageous land rate, which is almost similar to Affinity at Serangoon, but much lower than Sengkang Grand Residences and The Garden Residences.

This means that unit prices here are easily about $100psf lower than the 2 projects with higher land cost, which gives this development a bigger room for future appreciation value.

And if you are unaware, Riverfront Residences has already sold out most of their 1 and 2 bedroom units. So the next best alternative is here at The Florence Residences.

We’ve shown you the entry prices above.

But just by looking at the prices above, you may not know that The Tapestry is already more than over 95% sold.

Inventory here is getting very low, and you might be wondering if there are still any suitable units for yourself.

So, what are the The Tapestry balance units that are still available? Let’s break down the remaining number of units for each unit type:

1 Bedroom – 3 units left
1 + Study – 3 units left
2 Bedroom – 28 units left
3 Bedroom – 6 units left

As you see above, the balance units remaining out of the total 861 units are depleting real fast and units are still being sold almost everyday! (TOP soon in less than 6 months time is the biggest factor!)

Get in touch with us below to find out more about this hot new launch condo.

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