Page 1 of 2 12 LastLast
Results 1 to 30 of 33

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

  1. #1
    Join Date
    Oct 2011
    Posts
    10,829

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


  2. #2
    Join Date
    Apr 2014
    Location
    Trevista
    Posts
    4

    Default

    Project GEM Residences
    Developer Evia Real Estate PTE LTD
    GEM HOME Pte.Ltd

    Gamuda Berhad

    Maxdin Pte Ltd
    Location Lorong 5 Toa Payoh * Singapore
    Development Type Condominium
    District 12
    Tenure 99 years leasehold wef 21 Sept 2015
    Site Area 130.832 SQFT / 12.154.6 SQM APPROXIMATE
    Expected TOP: 31 April 2020
    Total Units 578 Residential Units
    Development Type 2 blocks of 38 storey condominium
    1 block multi-storey

    578 carparks lots with 6 handicapped carparks lots
    Unit Mix
    Unit Types Area*Sqft
    1 Bedroom 484
    1 Bedroom 455
    2 Bedroom 594
    2 Bedroom 566
    2 Bedroom 696
    2 Bedroom 676
    2 Dual Keys 778
    3 Bedroom 932
    3 Bedroom 988
    3 Bedroom 946
    3 Bedroom triple key* 987
    3 Bedroom *Premium 1027
    4 Bedroom 1238
    5 Bedroom 1297
    Penthouse 1895
    Penthouse 2121
    Facilities Fully Condominium Facilities with Pet Friendly Facilities
    Development Attributes
    Situated in the mature estate of Toa Payoh on the city Outskirt with many famous food near. Good transport network.
    Located within minutes to Braddell MRT Station.Toa Payoh MRT Condominium , Residential developments near MRT are becoming rare in Singapore .
    Macritchie Reservoir or Toa Payoh Safra can bring enjoyment and nature to your family and friends.
    Easy accessibility to dining, various shopping and entertainment mall.
    Easy access to CBD, Orchard shopping belt via many expressways Full resort style condominium facilities for you and your own family to love.
    Eligibility All Eligibility including foreigners
    Pricing Estimated Range at Sgd $1,400 psf to $1,600 Psf

    for more info : http://newsgcondos.com/gem-residences/

  3. #3
    Join Date
    Feb 2015
    Posts
    16

    Default

    Gem Residences comprising of 1 Block of 37-storey and 1 block of 38-storey residential buildings with a total of 578 units and 1 block of multi-storey carparks at Lorong 6 Toa Payoh and Lorong 4 Toa Payoh Junction. Gem Residences, a blockbuster launch, is coming up soon in Toa Payoh ! We are proud to be an appointed one of official marketing agency.

    Gem Residences will be well received due to its excellent location near CBD, a short walk to Braddell MRT and rarity of private residential projects in Toa Payoh estate. Gem Residences will attract investors as the area is popular with tenants due to its proximity to town area. It will be attractive to expatriates who want to be near to their offices and local families who are upgrading.

    Gem Residences is well located in the mature estate of Toa Payoh and it's minutes walk to Braddell & Toa Payoh MRT Station. It also has excellent links to many amenities and transport networks across the island. It is also well-connected via PIE, CTE and Braddell Road Flyover. There is also a wide range and variety of food choices with nearby food courts, and recreation centres like Toa Payoh Safra, Toa Payoh Swimming Complex and renowned schools nearby, like CHIJ Primary Secondary School, SJI International School and Raffles Institution.


    Floor Plans and Unit Models distribution here :

    http://newlaunch-sgcondo.com/gem-residences/

  4. #4
    Join Date
    Jun 2009
    Posts
    5,675

    Default

    Triple key units can become Airbnb. Just need somebody to do housekeeping only ha ha.

  5. #5
    Join Date
    Jul 2009
    Posts
    7

    Default

    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.

  6. #6
    Join Date
    Feb 2015
    Posts
    16

    Default

    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.

    Toa Payoh area is still mainly a market for local buyers.
    Not many expatriates want to stay at Toa Payoh area.
    They always prefer to rent condo at Novena, Balestier, Newton areas.

  7. #7
    Join Date
    Oct 2012
    Posts
    74

    Default

    Does anyone know that there is a Columbarium just beside the site - Toa Payoh Seu Teck Sean Tong.
    that's why the show flat is located so far away
    Check it out before any move
    To make money we lose our health,
    and then to restore our health we lose our money.
    We live as if we are never going to die,
    and we Die as if we never lived.........

  8. #8
    Join Date
    Dec 2008
    Posts
    3,721

    Default

    The onslaught of shoebox continues...

  9. #9
    Join Date
    May 2008
    Posts
    9,279

    Default

    Quote Originally Posted by DPan View Post
    Does anyone know that there is a Columbarium just beside the site - Toa Payoh Seu Teck Sean Tong.
    that's why the show flat is located so far away
    Check it out before any move
    thanks for updating! on the map it only looks like a temple. buyers should know this and nobody selling it would likely tell them that!

  10. #10
    Join Date
    May 2012
    Posts
    4,035

    Default

    I am of the belief that with the increased intensity of use of land, it is very unlikely for new sites to be priced friendly and having the best of everything including location.

    Several sites I believe are really solid (Buona Vista, Holland Village), Govt and developer like Far East have not really released. By the time they do, the quantum and PSF will be incredible.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  11. #11
    Join Date
    Mar 2016
    Posts
    69

    Default

    I stay in TPY and the condo site is just beside the temple. Location-wise it's pretty good but not so sure about capital appreciation potential given that TPY, although a good location, is known for flats rather than condos.

    Quote Originally Posted by bargain hunter View Post
    thanks for updating! on the map it only looks like a temple. buyers should know this and nobody selling it would likely tell them that!

  12. #12
    Join Date
    May 2008
    Posts
    9,279

    Default

    Quote Originally Posted by dreamer888 View Post
    I stay in TPY and the condo site is just beside the temple. Location-wise it's pretty good but not so sure about capital appreciation potential given that TPY, although a good location, is known for flats rather than condos.
    so is it a temple with a Columbarium?

  13. #13
    Join Date
    Mar 2016
    Posts
    69

    Default

    Yes it is. There is a designated area for the tablets.

    Quote Originally Posted by bargain hunter View Post
    so is it a temple with a Columbarium?

  14. #14
    Join Date
    Feb 2015
    Posts
    16

    Wink

    It is still a good project I think. 14 developers bidded for it according to Channel News Asia's report.

    http://www.channelnewsasia.com/news/...l/1924932.html

    Mr Desmond Sim, head of CBRE Research for Singapore and Southeast Asia, said the strong demand was "unsurprising" given the site's location within a well-established mature estate with very few private residential projects. The site is also within walking distance of the Braddell MRT station.

    JLL's head of research in Southeast Asia Chua Yang Liang said the gap between the winning bid and the next highest is only 1.1 per cent. That is the closest gap since the second half of 2014, when a site at Choa Chu Kang Drive was awarded to Sim Lian Land at a margin of 2.2 per cent over the next bidder, said Dr Chua.

  15. #15
    Join Date
    Nov 2008
    Posts
    9,217

    Default

    Quite a good site at 2-3m above road level. Should be popular but sale will depend on pricing.
    Quote Originally Posted by johnwen View Post
    It is still a good project I think. 14 developers bidded for it according to Channel News Asia's report.

    http://www.channelnewsasia.com/news/...l/1924932.html

    Mr Desmond Sim, head of CBRE Research for Singapore and Southeast Asia, said the strong demand was "unsurprising" given the site's location within a well-established mature estate with very few private residential projects. The site is also within walking distance of the Braddell MRT station.

    JLL's head of research in Southeast Asia Chua Yang Liang said the gap between the winning bid and the next highest is only 1.1 per cent. That is the closest gap since the second half of 2014, when a site at Choa Chu Kang Drive was awarded to Sim Lian Land at a margin of 2.2 per cent over the next bidder, said Dr Chua.

  16. #16
    Join Date
    Feb 2015
    Posts
    16

    Wink

    Hi,
    Please note that the show flat will be ready by 20 May.
    Booking will be on or before 27 May. Please book early to avoid disappointment.
    You may book thr' me by clicking on the link below. I have provided plenty of details on the project.
    We are the official marketing agent.
    Thanks

  17. #17
    Join Date
    Feb 2015
    Posts
    16

    Wink

    Hi,
    Gem Residences sale gallery is open for viewing since yesterday.
    Thanks

  18. #18
    Join Date
    Feb 2015
    Posts
    16

    Default

    Hi,
    Gem Residences Show Flat is open for public viewing tomorrow Saturday.
    The details of the project are here :
    http://newlaunch-sgcondo.com/gem-residences/
    Thanks
    John Oon

  19. #19
    Join Date
    Feb 2015
    Posts
    16

    Default

    From Propertyguru:

    Gem Residences, the first private condominium to launch in Toa Payoh since 2009, has released the prices of its units ahead of its official launch next Friday (27 May).

    The move to release its pricing list to the public this early goes against the current industry practice for developers to price according to interest at booking, with unit prices only revealed during the balloting process.

    Speaking to reporters on Thursday (19 May), ahead of the opening of the project’s showflat today, Vincent Ong, Managing Partner of Evia Real Estate, said this will allow potential buyers to compare prices across the development and get their finances in order.

    The 578-unit project consists of one- to five-bedroom units and two penthouses, with prices ranging from $578,000 for a one-bedder to around $1.9 million for a five-bedder.

    “We have priced all our units competitively,” said Ong, whose firm is jointly developing the project with Gamuda Berhad and Maxdin.

    In fact, the project’s average price was revised to $1,426 psf, slightly lower than its indicative pricing of $1,480 psf. This is also below that of other private condos in the Rest of Central Region (RCR), which have average selling prices ranging from $1,457 psf to $1,753 psf.

    According to data from the Urban Redevelopment Authority (URA), prices at the nearby Trevista condo have been above $1.4 million in the past year. Over at the 16-year-old Trellis Towers in Lorong 1 Toa Payoh, half of the transactions over the past one year have been above $1,400 psf.

    “We have received strong interest from prospective buyers since the show gallery was opened to the public in end-April,” shared Ong, adding that the project has already attracted more than 2,500 registered visitors and around 1,500 expressions of interest.

    “Gem Residences is situated on prime land, which will only become more expensive in years to come. This, coupled with the lower selling prices, makes the condo stand out as a valuable and lasting investment choice,” added Ong.

    Located near Braddell MRT station, the 99-year leasehold project is expected to obtain its TOP in 2020.

    http://newlaunch-sgcondo.com/gem-residences/

  20. #20
    Join Date
    Jun 2009
    Posts
    5,675

    Default

    Quote Originally Posted by johnwen View Post
    From Propertyguru:

    Gem Residences, the first private condominium to launch in Toa Payoh since 2009, has released the prices of its units ahead of its official launch next Friday (27 May).

    The move to release its pricing list to the public this early goes against the current industry practice for developers to price according to interest at booking, with unit prices only revealed during the balloting process.

    Speaking to reporters on Thursday (19 May), ahead of the opening of the project’s showflat today, Vincent Ong, Managing Partner of Evia Real Estate, said this will allow potential buyers to compare prices across the development and get their finances in order.

    The 578-unit project consists of one- to five-bedroom units and two penthouses, with prices ranging from $578,000 for a one-bedder to around $1.9 million for a five-bedder.

    “We have priced all our units competitively,” said Ong, whose firm is jointly developing the project with Gamuda Berhad and Maxdin.

    In fact, the project’s average price was revised to $1,426 psf, slightly lower than its indicative pricing of $1,480 psf. This is also below that of other private condos in the Rest of Central Region (RCR), which have average selling prices ranging from $1,457 psf to $1,753 psf.

    According to data from the Urban Redevelopment Authority (URA), prices at the nearby Trevista condo have been above $1.4 million in the past year. Over at the 16-year-old Trellis Towers in Lorong 1 Toa Payoh, half of the transactions over the past one year have been above $1,400 psf.

    “We have received strong interest from prospective buyers since the show gallery was opened to the public in end-April,” shared Ong, adding that the project has already attracted more than 2,500 registered visitors and around 1,500 expressions of interest.

    “Gem Residences is situated on prime land, which will only become more expensive in years to come. This, coupled with the lower selling prices, makes the condo stand out as a valuable and lasting investment choice,” added Ong.

    Located near Braddell MRT station, the 99-year leasehold project is expected to obtain its TOP in 2020.

    http://newlaunch-sgcondo.com/gem-residences/
    The 578k #02-13 seems like a good buy although facing the mscp.

  21. #21
    Join Date
    Apr 2015
    Posts
    45

    Default

    Provided u can get it!

  22. #22
    Join Date
    May 2016
    Posts
    1

    Default

    2 blocks of 37 and 38 storey. Price cheaper than neighbour condo.
    Lot of activities at the show flat.

    Anyone interested to get a unit, can email me at [email protected]
    Can get full set of floor plan.

  23. #23
    Join Date
    Oct 2011
    Posts
    10,829

    Default

    http://www.straitstimes.com/business...-sold-in-a-day

    50% of Gem Residences sold in a day

    About 300 of the 578 units have been sold at an average of $1,426 per sq ft. About 47 per cent of units are priced below $1 million and 73 per cent of units are priced below $1.4 million.

    May 28, 2016

    Experts point to attractive location in Toa Payoh and pricing as reasons for strong sales

    Rennie Whang


    Around 50 per cent of new condo Gem Residences was sold in a day, ahead of its public launch today.

    Such a successful sales result has not been seen in over a year, but experts noted that this likely reflected the appeal of this particular project.

    "It's in Toa Payoh, where a launch hasn't taken place for some time. Toa Payoh is a very established, mature Housing Board estate and there is strong demand for new projects there," said Mr Eugene Lim, ERA Realty key executive officer. "The attractive pricing also played a part."

    At the VIP launch yesterday, queues started forming early in the morning and, by 6pm, about 300 of the 578 units had been sold at an average of $1,426 per sq ft (psf).

    Prices are from $578,000 for the smallest one-bedder of 452 sq ft. About 47 per cent of units are priced below $1 million and 73 per cent of units are priced below $1.4 million.

    Mr Vincent Ong, managing partner of Evia Real Estate - joint developer together with Gamuda and Maxdin - said he was pleased with the response. Given the roughly 2,500 expressions of interest received so far, more sales should come through today, he added.

    Prices at the project are lower than the over $1,600 psf for new Alexandra projects and over $1,500 psf for Bishan ones, said Mr Ong. "Today's market is a bit risky with Additional Buyers' Stamp Duty for developers and Qualifying Certificate issues. Some developers may wish to go for maximum margin, but it's a lot safer to price judiciously."

    While one- and two-bedroom units were very popular, there was good interest as well for the larger units, with one of two penthouse units sold, the developers said.

    Prospective buyers were offered cash rebates of $7,500 to $10,000 during the VIP launch. The offer will be extended until tomorrow .

    Interior designer Eugene Wu, 26, who bought a two-bedroom unit for $980,000, said the location was very convenient and the price was good. He had been looking for his first home for over a year.

    Mr Lim of ERA Realty, which is jointly marketing the project with PropNex Realty, said: "From the sales performance, we can tell that buyers reserve their ammunition for something that would give them good value for money - in this case, the developer has put many features into the project and effort into marketing."

    Another launch this weekend is Stars of Kovan by Cheung Kong Property. It sold about 60 of a total of 395 residential units at the VIP pre-sale last weekend.

  24. #24
    Join Date
    Oct 2011
    Posts
    10,829

    Default

    http://www.businesstimes.com.sg/real...uyers-scheme-0

    URA kills GEM project's cheques-for-buyers scheme

    It says developer's issuance of cheques for offset against booking fee circumvents minimum cash downpayment rule

    By Lynette Khoo

    [email protected]

    @LynetteKhooBT

    May 28, 2016


    OF the many innovative features for GEM Residences that its developers came up with, one particular scheme has ruffled the feathers of the housing regulator.

    BT understands that under a "specimen cheque scheme", the joint developers - Gamuda, Maxdin, and Evia Real Estate - issued cheques of S$7,500 or S$10,000 to prospective buyers who then submitted these for expressions of interest. The buyers could have used these cheques to offset their booking fee on balloting day.

    But the plan was scuttled after the Controller of Housing directed these developers on Thursday night not to proceed with the use of such cheques, as this circumvents the requirement of a minimum 5 per cent booking fee for a residential purchase.

    Despite the about-turn, the 99-year leasehold project in Toa Payoh still sold 51 per cent of all units in just one day - marking one of the highest launch take-up rates in recent years.

    Buyers who turned up at the showflat on Friday morning were informed that those specimen cheques can no longer be used. But they were offered two alternatives - a direct discount of the same amount or to accept a cash rebate upon the signing of the sales and purchase agreement.

    In response to BT queries, an Urban Redevelopment Authority (URA) spokesman said the offer of the "specimen cheque scheme" by the developers to offset part of the booking fee to be paid by the purchaser does not comply with the requirement under the Housing Developers Rules for a minimum booking fee of 5 per cent of the purchase price for an option to buy a unit in a licensed housing project.

    "It is also a circumvention of the minimum 5 per cent cash downpayment requirement of the Monetary Authority of Singapore," the spokesman said.

    With the downpayment requirement being "a financial prudence measure" to encourage prospective buyers to make careful considerations before taking up the option to purchase, "such schemes may entice purchasers into taking up the option hastily due to the lower upfront payment".

    A S$7,500 or S$10,000 subsidy on downpayment via the specimen cheques also significantly reduces the cost of forfeiting the option to purchase or even allow some buyers of the smaller units to make a gain from the forfeiture; under current rules, 25 per cent of the booking fee is forfeited if the option is not exercised.

    BT also understands that should options be entered into hastily and forfeited with little cost, it may compromise the developer sales data collected by the URA. Since the legislation for detailed sales data to be provided by developers on a weekly basis kicked in on May 25, 2015, a unit is considered sold once an option is issued, given the current low abort rate.

    As an industry practice, developers collect cheques from prospective buyers as expressions of interest, and the cheques are returned if no booking is made. But for GEM Residences, developers issued cheques of S$7,500 for units priced at S$800,000 and below and S$10,000 for units above S$800,000; those 2,500 cheques submitted by prospective buyers were the very ones issued by the developers.

    The specimen cheque scheme was initially kept under wraps until the authorities were notified a few days before balloting day. According to the URA, it only received information on the scheme from the developers on Wednesday.

    But the abrupt cancellation of the scheme was met with little disappointment from some 360 prospective buyers who packed the showflat on Friday. To make up for the last-minute change, the developers also promised a few free additional kitchen appliances from Italian upmarket brand SMEG to each buyer.

    Some 297 units in the 578-unit project were sold on Friday. Evia Real Estate managing director Vincent Ong attributed the strong sales to the prime location and its "club condo" concept. Prices for the remaining units are raised by 2 per cent this weekend, he said.

    The "club condo" concept is another novelty in the project, apart from the move to release a full price list for all units one week before sales commenced.

    Services such as car rental, laundry, food/grocery delivery, housekeeping services or even the hiring of a private chef will be paid on demand by residents. Other services - including free dance classes, weekly health checks, and concierge services - will be paid for by the developer in the first year and the condo management will have to decide whether to continue with these thereafter.

    Mr Ong stressed however that the additional costs to be borne by the developers will not translate to higher monthly maintenance fees for residents.

    Property consultants note that the affordable price quantums at GEM Residences worked to its favour. "The developers' price-to-sell strategy plus its timing - with prior release of its price list that shows more attractive pricing - clearly worked to draw higher interest from buyers," said Knight Frank head of consultancy and research Alice Tan.

    Prices were in the range of S$1,279-1,551 per square foot before factoring in the direct discounts or cash rebates. Some 47 per cent of units are priced below S$1 million and 73 per cent of units are priced below S$1.4 million.

    Century 21 Singapore CEO Ku Swee Yong pointed out that GEM Residences likely benefited from a lack of new launches within the Toa Payoh area for the past seven years, and the strong upgraders' pool in Toa Payoh, Bishan and Braddell where HDB prices are above average in value. He added that "with recent good sales in Sturdee Residences, OUE Twin Peaks, Ardmore Three and Cairnhill Nine, it is hard to expect the minister to relax cooling measures any time soon".

  25. #25
    Join Date
    Jun 2009
    Posts
    5,675

    Default

    Hopefully more projects will shed prices in the coming months.

  26. #26
    Join Date
    Nov 2011
    Posts
    789

    Default

    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!

  27. #27
    Join Date
    Apr 2012
    Posts
    174

    Default

    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.

  28. #28
    Join Date
    Oct 2011
    Posts
    10,829

    Default

    http://www.propertyguru.com.sg/prope...s-lose-sparkle

    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.

  29. #29
    Join Date
    Mar 2012
    Posts
    495

    Default

    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.

    https://www.99.co/blog/singapore/trio-key-units/


  30. #30
    Join Date
    May 2016
    Posts
    169

    Default

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

Similar Threads

  1. Replies: 34
    -: 30-06-22, 09:51
  2. Replies: 4
    -: 31-03-17, 18:55
  3. The Lakefront Residences (D22, 99 years leasehold, Keppel Land)
    By rattydrama in forum West and North West
    Replies: 1490
    -: 28-07-14, 08:59
  4. Replies: 384
    -: 01-07-14, 19:12
  5. Replies: 286
    -: 05-07-13, 18:21

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •