The Beaumont hits new high of $2,441 psf
/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - Among condos that hit a new a new psf-price high from Nov 7 to Nov 14, The Beaumont topped the list after it achieved a record psf-price of $2,441. This follows the resale transaction of a 1,475 sq ft, two-bedroom unit on the fifth floor for $3.6 million on Nov 9.
This is the first time a unit at The Beaumont has changed hands at a price exceeding $2,400 psf. Prior to the sale, the previous psf-price record at the development was held by a 990 sq ft unit that fetched $2.3 million ($2,323 psf) in August 2007. The unit sold on Nov 9 also marks the first resale transaction at the development since September 2018 when a 1,475 sq ft unit was sold for $2.88 million ($1,953 psf).
The new psf-price high at The Beaumont follows the sale of a 1,475 sq ft unit for $3.6 million on Nov 9 (Picture: Samuel Isaac Chua/The Edge Singapore)
The Beaumont is a 64-unit boutique condo on Devonshire Road in the prime Somerset area of Orchard Road. Located just a two-minute walk from the Somerset MRT Station, it is close to malls such as 313@Somerset, Mandarin Gallery and Ngee Ann City. The freehold development comprises two blocks of up to 10 storeys, with a mix of one-bedroom units from 775 sq ft to three-bedroom units of 1,948 sq ft. The project was completed in 1985.
Owners at The Beaumont have made a collective sale attempt in recent years. In December 2021, The Beaumont was launched for tender with a guide price of $478 million. It was later relaunched for sale in July 2022 with a lower guide price of $468 million. Both tenders closed without finding a buyer.
The Loft, a condo on Nassim Hill, also reached a new psf-price high during the period in review. On Nov 7, a 753 sq ft, one-bedder on the third floor changed hands for $1.78 million or $2,362 psf. This exceeded the previous high set in September 2007, when a 1,830 sq ft unit fetched $4.21 million or $2,300 psf.
The unit sold on Nov 7 was purchased by the seller in June 2016 for $1.54 million ($2,044 psf). Thus, they made a gross gain of $240,000 on the transaction.
The Loft hit a new high of $2,362 psf after a 753 sq ft unit changed hands for $1.78 million on Nov 7 (Picture: Google Maps)
The Loft is a 99-year leasehold luxury condo that was completed in 2002. The low-rise development has four storeys and a total of 77 units. Apartments include studios from 710 sq ft, two-bedders from 1,033 sq ft, three-bedders from 1,432 sq ft and four-bedders from 1,830 sq ft. Located within the exclusive Nassim Hill residential enclave in prime District 10, The Loft is within walking distance of Tanglin Mall and the Singapore Botanic Gardens. The Napier MRT Station on the Thomson-East Coast Line is a 10-minute walk away.
Just across the road from The Loft, upcoming development 19 Nassim saw a new psf-price low during the period in review following the sale of an 829 sq ft unit by the developer on Nov 10. The two-bedroom unit on the third floor sold for $2.52 million or $3,036 psf.
Based on caveats lodged, this marks a new psf-price low for the luxury condo, which was launched for sale in March 2020. Before this, 19 Nassim’s psf-price low was $3,351 psf, stemming from the sale of a 570 sq ft unit for $1.91 million during its launch month.
Read also: Parc Esta achieves new high of $2,409 psf
19 Nassim hit a new psf-price low following the sale of a 829 sq ft unit for $2.5 million ($3,036 psf) on Nov 10 (Picture: Keppel)
19 Nassim is a 99-year leasehold luxury condo that has 101 units over a single 10-storey block. The development comprises one- to three-bedroom apartments between 538 sq ft and 1,830 sq ft. Selected two-bedroom units, as well as all the three-bedroom units, have access to private lift lobbies. The condo is scheduled to receive its temporary occupation permit by the end of the year.
Three other units have been sold at 19 Nassim to date this year. This includes a 1,410 sq ft unit that fetched $5.5 million ($3,906 psf) in February, a 1,475 sq ft unit that sold for $5.6 million ($3,815 psf), and a 538 sq ft unit that sold for $2.09 million ($3,876 psf), The latter two units were transacted in January.
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