Dear club members, here we are assessing yet another mega residential development in the community of District 19. Instead of Serangoon Garden or Punggol area, we will be bringing you guys back to Hougang precinct this time round. We at Home Town Property believe you’ve seen and heard enough of new project launches in these clusters of addresses, thus the Florence Residences could prove to be one of the most difficult choices after a brief evaluation by our in-house analysts.
It is the latest product by Logan Property Holdings after acquiring the former Florence Regency for close to $630 million in 2017. A considerably large site with a nice gross plot ratio that enables the builder to construct approximately 1,400 apartment units. Blessed with about 390,000 square feet of land size with unimaginable space for creativity but it could also be a major drawback for the developer when they have to compete for the very same home seekers in this residential area with other major developments. Current projects include the nearby Riverfront Residences, Affinity at Serangoon, The Garden Residences, Forest Woods Residences and several other upcoming new launches.
Thousands of homes have already been sold and absorbed via the above few projects in recent months and years, depleting the number of potential home buyers in the targeted region and coupled with the latest round of property cooling measures by the governing body. Logan Property could be facing an immense pressure to offload the large number of abodes within the entire housing estate. However, Florence Residences could be the best buy among the few available ones due to the strategic locale it offers to home purchasers.
It is the only development that is in proximity to both Kovan and Hougang MRT Station that includes the bus interchange. Greatly offsetting the inconvenience other developments may have by allowing non-driving residents with options of reachable rail and bus network for daily commute. Apart from this benefit, a stadium with running tracks across the road is readily available for those looking for a good run every week.
Nearby educational landmarks include Serangoon Junior College which is right behind the residence and the likes of Holy Innocents’ Primary School, Bowen Secondary School and Rosyth School. If you’re looking forward to enhancing your lifestyle with family members here, you should look at this redeveloped estate with a mid to long-term investment perspective.
Word of wisdom though, if you’re hoping for the property prices to come crashing down before making a purchase, we’re afraid that may not happen anytime soon, barring any unforeseen circumstances such as a global financial crisis to take effect. Our dear Prime Minister Lawrence have already spoken out yesterday, their aim is not to bring the prices down with cooling measures imposed. Therefore, only 1 direction will be expected on the price index chart going forward.