About 50 per cent of Gem Residences sold at VIP launch on Friday

About half of the units at Gem Residences were sold in double quick time, at its VIP launch on May 27, 2016.
About half of the units at Gem Residences were sold in double quick time, at its VIP launch on May 27, 2016.ST PHOTO: RENNIE WHANG
About half of the units at Gem Residences were sold in double quick time, at its VIP launch on May 27, 2016.
About half of the units at Gem Residences were sold in double quick time, at its VIP launch on May 27, 2016.ST PHOTO: RENNIE WHANG
About half of the units at Gem Residences were sold in double quick time, at its VIP launch on May 27, 2016.
About half of the units at Gem Residences were sold in double quick time, at its VIP launch on May 27, 2016.ST PHOTO: RENNIE WHANG
About half of the units at Gem Residences were sold in double quick time, at its VIP launch on May 27, 2016.
About half of the units at Gem Residences were sold in double quick time, at its VIP launch on May 27, 2016. PHOTO: DANIEL NEO FOR THE STRAITS TIMES

SINGAPORE - About half of the units at new condominium Gem Residences were sold in double quick time, ahead of its public launch on May 28.

At its so-called VIP launch today, queues started forming at 8am. By 6pm, some 300 flats of the 578-unit development were sold.

One and two-bedroom units at the Toa Payoh project were very popular among the buyers, but more surprisingly, three, four and five-bedroom units drew great interest as well, Mr Vincent Ong, managing partner of Evia Real Estate said in a statement.

"The positive reception of the public towards these larger units is an indication of buyers recognising that they are getting a good deal for units of that size."

Prices of the different units range from S$1,279 to S$1,551 per sq ft, with the smallest one-bedder of 452 sq ft starting from S$578,000.

Nearly half the units are priced below S$1 million while about seven in 10 are going for below S$1.4 million.