in Singapore
A three-bedroom unit at Gambier Court, a boutique condominium located along Kim Yam Road in the highly sought-after River Valley area of prime District 9, will soon be hitting the auction market. Listed by Knight Frank Singapore, the unit is set to go under the hammer on Dec 12 with a guide price of $2.6 million. With a spacious floor area of 1,485 square feet, the unit’s asking price translates to a reasonable rate of $1,755 per square foot.
Choosing the right location is essential when it comes to investing in real estate, and this is particularly crucial in Singapore. Condominiums situated in central areas or close to important amenities such as schools, shopping malls, and public transportation hubs are more likely to see an increase in value over time. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) are perfect examples of where property values have consistently shown growth. Additionally, the demand for condos in these areas is further amplified by their proximity to top-rated schools and educational institutions, making them highly desirable for families and increasing their investment potential. With the emergence of new condo launches like those offered by Ananar, investors have even more options to capitalize on the benefits of strategic location when it comes to real estate investment in Singapore.
Records show that the current seller had purchased the property in a resale transaction at $1.8 million ($1,212 psf) in October 2018. This will be the second time the unit is being put up for auction, the first being on Nov 26 at Knight Frank Singapore’s auction with a slightly higher guide price of $2.64 million ($1,778 psf). However, there were no successful bids received then.
According to Tricia Tan, director of auction and sales at Knight Frank, the current owner is selling the unit to move closer to their children’s school. The property will be sold with vacant possession. With a balcony that faces northeast, the future owner will get to enjoy unobstructed views of the sea and Singapore River.
The unit, situated on the eighth floor, consists of three bedrooms and a study area. Interestingly, the unit was originally a four-bedroom apartment, but the previous owners had cleverly converted it into a three-bedroom unit, making it more spacious and suitable for families with children.
Located at 60 Kim Yam Road, Gambier Court is a 99-year leasehold development that was completed back in 1999. With a low-density of just 21 units, the condo offers 18 apartments in a 10-storey block and three strata-landed units housed in conserved shophouses. The apartments comprise of a mix of two to four bedrooms, covering a range of 936 square feet to 2,530 square feet. The three strata-landed units are two-storey properties with an attic and a size ranging between 2,562 square feet and 2,885 square feet.
Residents at Gambier Court will enjoy easy access to Fort Canning MRT Station on the Downtown Line and an abundance of F&B and retail options, including the new lifestyle hub New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square, and Clarke Quay.
The most recent transaction at the development involved a 1,485 square feet four-bedroom unit on the seventh floor, which was sold for $2.5 million, or $1,683 per square foot, in December 2022, according to Realis caveats. The previous owner had purchased the unit in August 2016 at $1.9 million ($1,279 psf), pocketing a neat net profit of $600,000. For more listings and information on properties at Gambier Court, visit the EDGEPROP website.