Gem Residences Toa Payoh is poised to be the next condominium under the real estate market spotlight. After a long wait of seven years,
HDB finally released a private residential site in the matured Toa Payoh estate. Competitively bided by 14 hopeful developers, the new Toa Payoh condo attracted a top bid of S$345.86 million from Evia Real Estate and Malaysia’s Gamuda Bhd. This works out to be approximately $747 per square foot per plot ratio and a break even of $1250 psf factoring in construction and other miscellaneous costs. Property expert forecast the
Gem Residences psf to be in the range of $1450psf to $1550 psf during launch.