in Singapore
Singapore’s cityscape is characterized by towering skyscrapers and advanced infrastructure that showcases the modernity of the country. Condominiums, strategically situated in desirable locations, offer a perfect combination of luxury and convenience that allures both locals and foreigners. These condos boast a wide range of amenities including swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them an appealing choice for potential tenants and buyers. For investors, these perks translate into higher rental yields and increased property values over time, making owning a Singapore Condo a wise and lucrative investment.
A 1,485 sq ft three-bedroom unit at Gambier Court in prime District 9 will be up for auction on Dec 12 by Knight Frank Singapore with a guide price of $2.6 million. Based on the unit’s floor area, this works out to $1,755 psf.
According to the records, the current owner purchased the unit in a resale transaction at $1.8 million in October 2018. This owner’s sale marks the second time the property will be going up for auction, after it was previously listed in Knight Frank Singapore’s auction on Nov 26 at a higher guide price of $2.64 million, but did not receive any bids.
Director of auction and sales at Knight Frank, Tricia Tan, notes that the owner is selling the unit to move closer to their children’s school. The property will be sold with vacant possession.
Featuring a balcony that faces northeast, the unit offers unblocked views of the sea and Singapore River. It is situated on the eighth floor and comprises three bedrooms and a study area. Originally a four-bedroom apartment, one of the previous owners converted the unit into a three-bedroom, providing the future owner with a more spacious layout, perfect for local and expat families with children.
Constructed in 1999, Gambier Court is a 99-year leasehold condo at 60 Kim Yam Road. The low-density development consists of just 21 units, including 18 apartments and three strata-landed units housed in conserved shophouses.
The development’s apartments vary in floor plan and feature two- to four-bedroom units ranging from 936 sq ft to 2,530 sq ft, while the three strata-landed units are two-storey properties with an attic spanning between 2,562 sq ft and 2,885 sq ft. Gambier Court is conveniently located within walking distance of Fort Canning MRT Station on the Downtown Line and offers close proximity to a variety of F&B and retail options, such as the new lifestyle hub New Bahru at Kim Yam Road, Robertson Quay, UE Square, and Clarke Quay.
Based on Realis caveats, the most recent transaction at the condo was for a 1,485 sq ft four-bedder unit on the seventh floor, which went for $2.5 million, or $1,683 psf, in December 2022. The seller was able to generate a profit of $600,000, having bought the unit for $1.9 million ($1,279 psf) in August 2016. To learn more about Gambier Court properties in Singapore, check out the latest listings here.