The Florence Residences Pricing
Hong Kong-listed developer Logan Property bought the former Florence Regency site at Hougang Avenue 2 for $629 million, through an en bloc sale under private treaty.
The site area is 36,161 sqm (389,237 sqft) with a plot ratio of 2.8, the site carries the maximum Gross Floor Area of 101,244 sqm (1,089,863 sqf). After lease top-up cost, the estimated land price is $917 psf per plot ratio. After construction cost and other costs and taxes added, the breakeven for the project is is $1,303 psf.
According to Mr Chng, Logan Property’s executive director, The Florence Residences pricing is likely to be 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 a two-bedroom starts from $878,000. Three bedrooms, which account for about 27% of all units, will be priced from $1.248 million. The Florence Residences pricing for four-bedroom units is likely going to be from $1.7 million and five bedrooms from $2.449 million.
The Florence Residences Price List
| Type | Lo PSF | Hi PSF | Lo Price | Hi Price |
|---|---|---|---|---|
| 1 Bedroom | $1,444 | $1,732 | $747,000 | $890,000 |
| 1 Bedroom + Study | $1,410 | $1,762 | $823,000 | $989,000 |
| 2 Bedroom + Study | $1,469 | $1,767 | $1,146,000 | $1,306,000 |
| 2 Bedroom Classic | $1,381 | $1,756 | $962,000 | $1,167,000 |
| 2 Bedroom Deluxe | $1,420 | $1,786 | $1,043,000 | $1,262,000 |
| 3 Bedroom Classic | $1,339 | $1,718 | $1,345,000 | $1,692,000 |
| 3 Bedroom Deluxe | $1,326 | $1,749 | $1,470,000 | $1,827,000 |
| 4 Bedroom Classic | $1,318 | $1,643 | $1,853,000 | $2,201,000 |
| 4 Bedroom Deluxe | $1,327 | $1,504 | $2,007,000 | $2,258,000 |
| 5 Bedroom | $1,399 | $1,600 | $2,456,000 | $2,761,000 |