Strong interest for Gem Residences

Posted by on 4th May 2016 in Blog

Gem Resort Residences Facade

More than 2,000 visitors have visited the sales gallery of Gem Residences at Lorong 5 Toa Payoh since it opened on Friday, 29 April.

Of this number, 468 prospective buyers have registered their interest for the 578-unit condominium, which has an average price of $1,480 psf.

Gem Residences is jointly developed by Gamuda Land, Evia Real Estate and Maxdin.

The consortium has been collating interest on the ground through its property agents since 15 April. To date, close to 1,700 people have expressed interest in the project.

Around 35 percent of them live in Toa Payoh, while another 30 percent live within a 5km radius. The units which garnered the most interest were the two- and three-bedroom units.

A mix of one- to five-bedroom apartments and penthouses are available, with sizes ranging from 452 sq ft for a one-bedroom unit to 2,045 sq ft for a six-bedroom penthouse.

Braddell MRT station, Toa Payoh HDB Hub and established schools are located nearby.

Vincent Ong, Managing Partner of Evia Real Estate, said: “We have been seeing healthy numbers at our show gallery the past three days, as well as positive interest on the ground. This is very likely due to Gem Residences being the first condominium launch in the prime estate since 2009, thereby catering to the pent-up demand, as well as its strategic location.

“We have about a month to go till bookings open, and we expect to see the number of visitors growing in the subsequent weeks.”

The 99-year leasehold project will be launched in end May, and is expected to obtain TOP in 2020.

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