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Thread: Gem Residences at Toa Payoh (D12, 99 years leasehold, Gamuda/Maxdin/Evia)

  1. #26


    Quote Originally Posted by azeoprop View Post
    Hopefully more projects will shed prices in the coming months.
    Hopefully more youngsters continue to buy high prized Pte condo, so that they ensure tat property is price always going up and up!! Cheers to them, if not property will crash ....... Tats why I always say don't underestimate Singaporeans , they have the money and the means!

  2. #27


    With EC in OCR going for $800+ psf, the price for this pte condo in TPY does seem reasonable. Prices has not really gone up and up in the last many quarters already.

  3. #28


    Sales at Gem Residences lose sparkle

    Romesh Navaratnarajah • May 30, 2016

    Despite selling close to 300 of its 578 units within four hours during a VIP sales booking last Friday (27 May), Gem Residences in Toa Payoh only sold about 15 units on the first weekend of sales, which translates to 55 percent of units sold.

    On the day of the VIP booking event, buyers were seen queuing outside the showflat at Lorong 5 Toa Payoh from as early as 8am, raising the possibility of a quick sell-out.

    Nevertheless, against the backdrop of property cooling measures and challenging market conditions, this is believed to be one of the most successful private condo launches in recent times.

    The 99-year leasehold project is jointly developed by Gamuda Land, Evia Real Estate and Maxdin, and marks Malaysian-based Gamuda’s first foray into Singapore’s property market. The infrastructure and construction giant has a 50 percent stake in the consortium.

    Although sales have slowed dramatically, Gamuda Land’s Managing Director, Chow Chee Wah, was satisfied with the response.

    “We are very pleased that sales have done well so far despite today’s lacklustre property market. We have kept prices fair, and we believe this has played a huge part in drawing in buyers,” he said.

    Units were sold at an average price of $1,426 psf, lower than the indicative pricing of $1,480 psf.

    Vincent Ong, Managing Partner of Evia Real Estate, said earlier that many buyers were drawn to the larger three- to five-bedroom units, measuring between 936 sq ft and 1,313 sq ft.

    Chow added that the project’s new club and condo concept, which includes privileges at Gamuda’s Horizon Hills Golf & Country Club in Johor, also proved popular.

    Located near Braddell MRT station, the project is set to be completed in 2020.

  4. #29


    Quote Originally Posted by khng View Post
    I am quite sure such 3 bdrm will be used for rental and not own stay.
    I wonder what is buyers' reception to such a development which seems more like a hotel than a residential project.
    The Washer is located at the Foyer for share use...

    The Balcony double up as Living Room for each sub-unit.

  5. #30


    Not near any mrt at all, perhaps 1 KM from braddel mrt.

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