The Florence Residences to preview this weekend

Indicative starting price is S$678,000 for one-bedroom units; five-bedders start from S$2.449 million

Tue, Feb 12, 2019

THE FIRST of 2019's several mega-launches will soon hit the market post-Chinese New Year, with the 1,410-unit The Florence Residences in Kovan set to preview starting Feb 16.

No prices were revealed at the press conference on Monday, a spokesman for developer Logan Property told The Business Times. But executive director for Logan Property Singapore CB Chng had previously told The Edge he thinks average pricing will be in the "S$1,400 to S$1,500 psf range".

That media report also said the indicative starting price for the one-bedroom units is S$678,000. Two-bedroom units will sell from S$878,000. Three-bedroom units start from S$1.248 million, four-bedders from S$1.7 million and five-bedroom units from S$2.449 million.

The new development will comprise nine 18-storey towers. Unit sizes range from 474 sq ft for a one-bedroom unit to 1,679 sq ft for a five-bedroom apartment.

The Florence Residences was formerly Florence Regency, which was sold en bloc for S$629 million in October 2017, or S$842 psf per plot ratio (psf ppr) after factoring in the estimated differential premiums of S$288.6 million.

Logan is positioning the project as a "club-condo" which "encompasses the lifestyle of a club and the luxury of private residential living".

It will include 128 facilities grouped into 12 "clubs". For instance, for the Gourmet Club, there will be seven themed dining pavilions.

The developer will also provide complimentary lifestyle activities like yoga classes, cooking and baking lessons and flower arrangement workshops.

Mr Chng said in a statement: "Buyers these days are seeking more than just a place to live in. They are pursuing a well-rounded and fulfilling lifestyle to complement their quality of living."

All units are to come with smart home features and appliances and fittings from brands like Electrolux, Roca and Grohe.

Florence Residences is expected to be a beneficiary of the recently-announced Cross Island Line with Hougang station, which is in the vicinity, set to become an interchange for that line and the North-East Line.

Property watchers expect as many as 50 to 60 new launches in 2019, coming from the wave of en bloc deals seen in the past few years.

Some other blockbuster launches expected in the first quarter include Treasure at Tampines, the former Tampines Court.

Some other projects this year will also feature creative concepts to draw buyers.

The former Park West, to be named Parc Clematis, will be launched later in the third quarter.

Developer SingHaiyi is planning what it calls a "co-living" concept, featuring shared facilities like a common kitchen and thematic dining rooms for the 1,468-unit development.

The idea is that with such common amenities, space can be freed up from some of the units. For example, the one- and two-bedroom units may come with just a microwave rather than an oven, with the freed-up space going to uses such as storage. This would "optimise your money more", developer SingHaiyi's deputy chief executive and chief financial officer told BT in January.

He pointed to lifestyle changes as another reason, as people eat out more and cook less at home.

SingHaiyi also plans to have activities like cooking classes in the shared kitchens.