Know about market updates

Half of Gem Residences Sold in a Day

Half of Gem Residences Sold in a Day

The rate at which the Gem Residences has allured buyers is mind-blowing. What is the magic wand that made this new launch condo such a huge success among the people? Industry watchers have spoken; explaining the likely reasons that made this particular sale a success. One, the buyers find the location a point of attraction. The pricing which is buyer friendly is also another attractive point. What is happening can only be compared to the alluring Singaporean property units such as the principal garden, Sturdee Residence, Stars of Kovan, Botanique at Bartley, and Kingsford Waterway where more than 1unit sell every other day!

Tao Payoh is the location and in recent times, no launch has taken place there. There was therefore the artificial hunger/thirst that has been created and when this launch came up, with other indices in the right perspective, the sale was an instant hit.

This very location is a matured housing board estate. It is a clear departure from some housing estates that are established on virgin lands. With Tao Payoh, all the social amenities that make an estate are all around; hence the desire of buyers to buy into these units.

Looking back into the events that happened at the VIP launch, the queues had started building from early in the morning and did remain until 6pm in the evening by which time about 300 of the 578 units offered for sale had been sold. Average sale here is $1,426 psf.

No doubt, the developers are pleased with the turn of events which is a huge success on their investment. What more can they ask for, what with 2,500 expressions of interest that had been received thus far? These are indeed happy times.

Considering the pricing of this new launch condo there is some level of marketing wisdom displayed in that the prices are lower than the price regimes of the duo of Alexandra and Bishan projects. That was one of the competitive edge that the launch of this GEM residences had over other competitors.

It is observed that the one bedroom units are very popular in these sales. The other variants put up for sale also had strong showing. In fact this launch is an all round success. Even the penthouse units are not left out in the sales- one or two of them were sold.

During the course of the VIP launch, all potential buyers were offered a rebate of cash ranging from $7,500 to $10,000 depending on the units purchased. This rebate will be extended to the day of the official launch.

No doubt, the Gem developers are connected to the buying populace. They know what the buyers want and this they have given them. The marketing drive was superb. Hence this success so far recorded.

For the launch the Gem Residence, the successes recorded are no fluke but a result of hard work and diligent planning.

You might be also interested in the following new condos for sale: