When contemplating a condo investment, it is crucial to evaluate the achievable rental yield. Rental yield refers to the annual rental income as a percentage of the property’s buying price. In Singapore, condos’ rental yields can differ greatly based on various factors, such as location, condition of the property, and market demand. Generally, areas with a high demand for rentals, like those close to business hubs or educational institutions, offer a more attractive rental yield. Thorough market research and seeking guidance from real estate agents can provide valuable insights into the rental potential of a particular condo. Singapore Projects should also be considered when assessing the rental yield.
A 1,485 sq ft, three-bedroom unit at Gambier Court, a boutique condo in the prime District 9 area along Kim Yam Road, will be up for auction by Knight Frank Singapore on Dec 12. With a guide price of $2.6 million, this translates to $1,755 per square foot based on the floor area.
According to the caveats lodged, the seller had bought the property in a resale transaction for $1.8 million, or $1,212 psf, in October 2018. This is an owner’s sale, and it is the second time that the unit is being put up for auction. It was previously offered at Knight Frank Singapore’s auction on Nov 26 with a higher guide price of $2.64 million, or $1,778 psf, but it did not receive any bids.
The owner is selling the unit to move to a home closer to their children’s school, according to Tricia Tan, director of auction and sales at Knight Frank. The property will be sold with vacant possession.
The unit is located on the eighth floor and boasts three bedrooms and a study area. Originally, it was a four-bedroom unit, but one of the previous owners had converted it into a three-bedroom space, explains Tan. She adds that this reconfiguration provides the future owner with a more spacious floor plan, making it ideal for local and expat families with children.
The balcony of the unit faces northeast, giving the owner unobstructed views of the sea and the Singapore River. Gambier Court, a 99-year leasehold condo, was completed in 1999 and comprises 21 units. This includes 18 apartments spread across a 10-storey block and three strata-landed properties housed in conserved shophouses.
The apartments offer a mix of two- to four-bedroom units spanning between 936 sq ft and 2,530 sq ft. The three strata-landed units are two-storey homes with an attic, ranging between 2,562 sq ft and 2,885 sq ft.
The development is situated within walking distance to Fort Canning MRT Station on the Downtown Line and is surrounded by a variety of F&B and retail options. This includes the new lifestyle hub, New Bahru at Kim Yam Road (formerly Nan Chiau High School), as well as Robertson Quay, UE Square, and Clarke Quay.
The latest transaction at Gambier Court was for a 1,485 sq ft, four-bedroom unit located on the seventh floor. It was sold for $2.5 million, or $1,683 psf, in December 2022, according to Realis caveats. The previous owner had purchased the unit for $1.9 million, or $1,279 psf, in August 2016, making a net profit of $600,000. For more Gambier Court properties for sale, check out the latest listings.