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The Florence Residences Sold Only 54 Units On Launch- Sign of Slowdown in Singapore Property Market?
By Investment Income for Life  •  March 10, 2019
Since the official launch of The Florence Residences over the weekend on March 2nd, 2019, it sold only 54 units.  This represented 3.8% of total units of 1,410 being sold at this first-weekend launch. The developer's version of the sales results is that close to 30% of units are being sold reason being that they only release 200 units. The average psf pricing is S$1,450 psf. Seems that sales results are not that ideal due to excess supply of other units launched from competitors. Riverfront Residences, Affinity at Serangoon and Garden Residences nearby also have many unsold units. Prospective buyers thus have plenty of choices in the current market. Another possible factor is what I think is the very high launched price of S$1,450psf. At S$1,450psf, this is even higher than Kovan Residences and Kovan Regency which have already TOP and are in better locations such as closer proximity to...
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By Investment Income for Life
I am an Accountant by training and is currently working in a global MNC in the Supply Chain industry. During my free time, I enjoy reading up on topics such as stock investing, insurance planning and property investment. Since 2012, I have started penning down my thoughts on certain financial matters while striving to achieve financial independence.
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