in our dedicated project launch microsite
Get your hands on this prime District 9 condo unit at a great deal – Offered for auction by Knight Frank Singapore, a three-bedroom unit at Gambier Court along Kim Yam Road in River Valley awaits a new owner. This 1,485 sq ft unit is available with a guide price of $2.6 million, which translates to $1,755 per square foot.Based on recorded transactions, the current owner had acquired the unit in October 2018 for $1.8 million, or $1,212 per square foot. This purposeful owner resale is the second time the unit is being put up for auction, after previously being listed for sale through Knight Frank Singapore on Nov 26 with a higher guide price of $2.64 million, or $1,778 per square foot, but without any successful offers.AdvertisementAdvertisementThe unit, boasting three bedrooms and a study area, is located on the eighth floor and enjoys a prime positioning. At its original construction, the unit was converted from four bedrooms to the current three-bedroom configuration, giving the future owner an increased sense of space. The balcony of this unit faces northeast, providing an unobstructed view of the Singapore River and the sea.Tricia Tan, director of auction and sales at Knight Frank, has mentioned that based on their conversations with the owner, they are moving closer to their children’s school. The unit will be offered with empty possession to the buyer.Gambier Court is a 99-year leasehold condo that was built back in 1999, located at 60 Kim Yam Road. This boutique condo features a low-density of just 21 units, including 18 apartments housed in a 10-storey block, and three strata-landed units, located in conserved shophouses. The apartment range from two- to four-bedroom layouts, varying between sizes of 936 sq ft and 2,530 sq ft. The strata-landed units, on the other hand, span across two storeys and an attic, with sizes between 2,562 sq ft and 2,885 sq ft.Conveniently situated in close proximity to Fort Canning MRT Station on the Downtown Line, the condo also offers a wide variety of F&B and retail options, including New Bahru at Kim Yam Road (previously known as Nan Chiau High School), UE Square, Robertson Quay and Clarke Quay.Read also: Journey through the world of feng shui with JadeScape’s Tiny TanAdvertisementAdvertisementBased on the latest Realis caveats, the most recent transaction at this condo was carried out in December 2022, with a sale price of $2.5 million for a 1,485 sq ft four-bedroom unit situated on the seventh floor. This translates to a price of $1,683 per square foot. The current seller had purchased the unit for $1.9 million, or $1,279 per square foot, in August 2016, earning a net profit of $600,000. To find out more about Gambier Court, check out EdgeProp’s project launch microsite dedicated to this property.
Understanding the regulations and restrictions surrounding property ownership in Singapore is crucial for foreign investors. When it comes to purchasing real estate in the country, there are certain rules that apply. For instance, foreigners are typically allowed to buy condos with little restriction, but landed properties have more stringent ownership regulations. Additionally, foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property purchase. Despite these extra expenses, the stability and potential for growth in the Singapore real estate market continue to entice foreign investment. This makes Singapore Condos a popular choice for foreign investors.