in Singapore.
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A premium three-bedroom unit located at Gambier Court, a luxurious condo situated along Kim Yam Road in prime District 9 of the River Valley area, is set to be auctioned off by Knight Frank Singapore on Dec 12. The unit is being offered with a guide price of $2.6 million, equating to a price of $1,755 per square foot based on its spacious floor area of 1,485 sq ft.
Public records show that the current owner had purchased the unit in a resale transaction in October 2018 for $1.8 million, working out to a price of $1,212 per square foot. This transaction marks the second time the unit will be put up for auction, after previously being listed in Knight Frank Singapore’s auction on Nov 26 with a higher guide price of $2.64 million, or $1,778 per square foot, which did not receive any bids.
According to Tricia Tan, director of auction and sales at Knight Frank, the reason for the sale is the owner’s desire to relocate to a residence closer to their children’s school. The property will be sold with vacant possession, making it an attractive option for prospective buyers.
When it comes to investing in a condo, securing financing is a crucial factor to consider. Fortunately, Singapore offers a variety of mortgage choices. However, investors must be aware of the Total Debt Servicing Ratio (TDSR) framework, which determines the maximum loan amount based on their income and current debt commitments. Familiarizing oneself with the TDSR and seeking guidance from financial advisors or mortgage brokers can aid in making informed decisions about financing and avoiding excessive leveraging. For more information on financing options for investing in a Singapore Condo, visit Singapore Condo.
Located on the eighth floor, this unit features three bedrooms and a study area. Originally a four-bedroom apartment, the previous owner had converted it to a three-bedroom unit, providing a more spacious layout that is ideal for both local and expat families with children, according to Tan. Additionally, the unit’s balcony faces northeast, offering sweeping views of the sea and Singapore River.
Gambier Court is a freehold condo situated at 60 Kim Yam Road that was completed in 1999. This low-density development comprises of just 21 units, featuring 18 apartments spread across a 10-storey block and three strata-landed units housed in conserved shophouses. The apartments offer a range of floor plans, from two to four bedrooms, ranging from 936 sq ft to 2,530 sq ft. The three strata-landed units are two-storey properties with an attic, boasting sizes between 2,562 sq ft and 2,885 sq ft.
Residents of Gambier Court enjoy convenient access to Fort Canning MRT Station on the Downtown Line and are in close proximity to a variety of dining and retail options, such as the recently developed lifestyle hub, New Bahru at Kim Yam Road (formerly Nan Chiau High School), Robertson Quay, UE Square, and Clarke Quay.
Recent transaction records show that a four-bedroom unit measuring 1,485 sq ft on the seventh floor was sold for $2.5 million, or $1,683 per square foot, in December 2022, according to Realis caveats. This represents a profit of $600,000 for the seller, who had purchased the unit for $1.9 million, or $1,279 per square foot, in August 2016. Interested parties can explore more available listings for properties at Gambier Court in Singapore.