New Launch Condominium for GEM Residences phase 2
It’s official, GEM Residences 2nd phase is released.
After the Year End festive season and the Chinese New Year, this is the time that the property market heats up again. We will see more and more action once again.
The property market in Singapore typically heats up during the months of February till June and August till November.
Find out what are the promotions for GEM Residences in the market place.
by Paul Ho (iCompareLoan.com) Feb 2017.
Figure 1: URA Quarterly Launches and Take up of private residential housing, URA, iCompareloan.com
During GEM Residences 1st launch on 28th May 2016, some 300 units was sold at an average of $1,426 p.s.f.
GEM Residences is now launching its second phase. Will they sell out in a few days amidst a softer market?
It is hard to tell, but this condominium does have something going for it. It is one of only a few rare launches within a mature estate such as Toa Payoh.
Not only are condominiums merely a pool, some sporting facilities and buildings. Soft facilities and amenities are equally important.
Also it does come with some amenities such as Free Concierge Services, Pet Pool, Free medical consultation, Complimentary classes, IT Support, Free internet connection, IT Support, Share (Free Petrol Top-up) and Housekeeping, Dry cleaning & Laundry, Grocery and Food delivery, Edible garden, Smart Parcel Locker. This does seem like a service condominium suite.
GEM Residences Artist’s impression
Where is GEM Residences and its Amenities
Map: GEM Residences is only 400m from the Braddell MRT Station
Site Map: GEM Residences site map
Price Ranges of GEM Residences
How much does it cost to buy a GEM Residences.
Table 1: Price List of GEM Residences.
Ask for Floor Plan of GEM Residences.
Can I afford to buy GEM Residences?
So let us examine the case of whether a couple, both 30 years old and each of them earning $4,500 a month in salary having sufficient CPF OA and $80,000 Cash.
Download the Full Property Buyer Home Loan Report here.
Figure 2: TDSR passes
Figure 3: Progressive Repayment Schedule, iCompareLoan
As the progressive payment takes time, you have time to build up your CPF OA savings. You have sufficient usable CPF OA to fully fund your instalment until Month 105, based on one of the bank’s packages.
It is best to compare the progressive payment of many different banks in one go within 1 report so you do not need to talk to 10 banks. That is what Singapore mortgage brokers can help you achieve.
You can download the sample property buyer home loan report here.
Get your property agent to generate a report for you at www.iCompareLoan.com/consultant
Current promotions available for GEM Residences in the market
Of course the normal due diligence is needed, such as whether you can afford it or how much to spend and whether this is a good investment or home. If you have decided to go for it.
Receive up to $500 shopping voucher* when you take your loan and get served by a selected panel of agents.
· Get an Approval-in-principle for GEM residences to secure your loan.
· Get assigned a professional Property agent to secure your unit.
· Upon exercising your Option, we will send you your $500 shopping voucher.
*min loan size $700,000.
Compare Home Loan Rates across banks, and use a Comprehensive Property Buyer Home Loan Report to help you make the work simpler.