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.