30 May '16, 7am

Sales at Gem Residences lose sparkle Question? Ask @AskREALTORsg

Crowds at the VIP launch of Gem Residences in Toa Payoh. (Photo: GEM Homes) 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 const...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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