The Florence Residences hits new high of $2,006 psf
In this column, we look at condominium projects that have achieved new highs in terms of psf prices and those that have seen new lows. This is based on URA Realis data for the period of Feb 9 to 13.
Highest psf prices
The Florence Residences, located on Hougang Avenue 2, saw a new psf price high when a 527 sq ft unit changed hands for $1.06 million, or $2,006 psf, on Feb 13. The 99-year leasehold unit that was sold is a one-bedder that comes with a study. It is located on the 16th floor.
The Florence Residences is a 1,410-unit mega project in Kovan that is currently still under construction. Developed by Logan Property, the project is a redevelopment of the former privatised Housing and Urban Development Co estate, Florence Regency.
The Florence Residences comprises a mix of one- to five-bedroom apartments spread across nine 18-storey blocks. The development also offers a “club-condo” living concept, including 128 facilities.
Sizes for units start from 474 sq ft for one-bedders, 624 sq ft for two-bedders, 893 sq ft for three-bedders, 1,270 sq ft for four-bedders, and from 1,668 sq ft for five-bedders. The Florence Residences is within close proximity to the Kovan and Hougang MRT stations. The project is expected to receive its temporary occupation permit in 2023.
Rochelle At Newton is another development that saw a new psf price high, as a two-bedroom unit measuring 1,012 sq ft was sold for $1.83 million, or $1,809 psf, on Feb 9. The development is a 99-year leasehold project located along Keng Lee Road off Newton Circus in District 11. Developed by Sim Lian Group, the condominium, which comprises a single 27-storey tower, was completed in 2012.
The unit transacted was previously sold for $1.58 million or $1,562 psf in July 2015. Prior to that, the unit had changed hands for $1.35 million or $1,334 psf in March 2011. Rochelle At Newton has 129 units including two-, three and four-bedroom apartments, as well as penthouse units that have up to five bedrooms.
Newton MRT Station is a 10-minute walk away from the development.
New lows
No new psf price lows were recorded for the period.
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