|Project Name||The Gems Condo
|Address||Toa Payoh Lorong 4 / Toa Payoh Lorong 6
|Developer||Evia Real Estate
|Gross Floor Area||42,541.10sqm
|No of Blocks||To Be Advised
|No of Storeys||To Be Advised|
|No of Units||561 Residential Units
Gems Toa Payoh
The Gems Condo location is highly desirable as it is just off Toa Payoh and Braddell. Both are mature towns and therefore there are existing amenities available for the residents to choose from. Also, as an investment, The Gems Condo is highly desirable as there is not much land left in Toa Payoh for residential development and the last plot was Trevista which is already fully sold.
The Gems Toa Payoh MRT
It is noted that Evia Real Estate has submitted the highest bid for the plot of land as it is confident of the mature estate. There has not been any new launches in the Toa Payoh area and there has not been any new launches. The last project was Trevista and there is not much new land now available in Toa Payoh for residential development. Hence this project should be well received. Trevista was launched way back in 2009 and has since been fully sold and have obtain TOP. Analyst sees that similar to Lake Life EC in Jurong, there is a pent up demand for real estate in Toa Payoh and therefore the project will be well received.
Evia Real Estate Condo
The bid tender for the project is priced at $755 psf ppr. Analysts therefore predict that based on the construction cost as well as other cost factors into the development, The Gems Evia Real Estate could have a break-even cost of around $1,250 psf and that the likely selling price should be around $1,450 psf to $1,500 psf. This is a realistic price considering that Trevista which is next door for Gems Toa Payoh is selling at $1,300 psf with 92 years left in the lease.