Knight Frank Singapore will be conducting an auction for a three-bedroom unit at Gambier Court, a boutique condominium located at Kim Yam Road in the prime District 9 of River Valley on Dec 12. The guide price for the unit is set at $2.6 million. This translates to a price of $1,755 per square foot, based on the unit’s floor area of 1,485 square feet.
When it comes to investing in a condo, securing financing is a crucial aspect. Fortunately, Singapore has a variety of mortgage options available. However, investors need to be mindful of the Total Debt Servicing Ratio (TDSR) framework, which places a cap on the loan amount based on an individual’s income and existing debt obligations. To make wise financing decisions and avoid being over-leveraged, it is essential to have a grasp of the TDSR. Seeking guidance from financial advisors or mortgage brokers can also be beneficial. Additionally, keeping a lookout for New Condo Launches can provide more financing options for potential investors.
According to caveats lodged, the unit’s previous owner had purchased it in October 2018 at $1.8 million ($1,212 per square foot). This will be the second time that the unit will be put up for auction by Knight Frank Singapore, with the previous attempt on Nov 26 having a higher guide price of $2.64 million ($1,778 per square foot) but did not receive any bids.
The unit will be sold by the owner, who desires to relocate to a home closer to their children’s school. The property will be sold with vacant possession.
The three-bedroom unit, located on the eighth floor, also has a study area. Formerly a four-bedroom apartment, a previous owner had converted it into a three-bedroom unit, creating a more spacious layout that is suitable for both local and expat families with children.
The unit has a balcony that faces northeast, offering unblocked views of the sea and Singapore River.
Gambier Court is a 99-year leasehold condominium that was completed in 1999. It consists of just 21 units, which include 18 apartments in a 10-storey block, and three strata-landed units in conserved shophouses.
The apartment units comprise a mix of two- to four-bedroom units, with sizes ranging from 936 square feet to 2,530 square feet. The three strata-landed units, on the other hand, are two-storey properties with an attic, measuring between 2,562 square feet and 2,885 square feet.
The development is within walking distance to Fort Canning MRT Station on the Downtown Line and is close to a variety of dining and shopping options such as 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 condominium took place in December 2022, involving a four-bedroom unit with a floor area of 1,485 square feet on the seventh floor that sold for $2.5 million ($1,683 per square foot). The seller had bought the unit for $1.9 million ($1,279 per square foot) in August 2016, making a net profit of $600,000. Interested buyers can check out the latest listings for properties at Gambier Court.