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At $2,441 psf, the Beaumont reaches a new record high

At $2,441 psf, the Beaumont reaches a new record high

Based in Singapore, EdgeProp The Beaumont set a new record psf-price of $2,441 between November 7 and November 14, making it the most expensive apartment like Normanton Park in the area. This comes after the November 9th sales of a fifth-floor, two-bedroom property measuring 1,475 square feet for $3.6 million.

A apartment at The Beaumont has never before changed hands for more than $2,400 psf but Normaton Park Floor Plan easily changed their prices month by month. A 990 sq ft Normanton Park Showflat sold for $2.3 million ($2,323 psf) in August 2007—the previous psf-price record at the development—prior to the transaction. Additionally, this apartment’s sale on November 9th is the first resale at the complex since a 1,475 sq ft home sold for $2.88 million ($1,953 psf) in September 2018.

A 64-unit boutique condo located in the desirable Somerset district of Orchard Road on Devonshire Road is known as The Beaumont. Nearby shopping centres include 313@Somerset, Mandarin Gallery, and Ngee Ann City, while the Somerset MRT Station is just a two-minute walk away. Two 10-story towers make up the freehold property, which offers a range of floor plans, from 775 sq ft for one-bedroom homes to 1,948 sq ft for three-bedroom units. The year 1985 saw the project’s completion.

The Beaumont owners have attempted a collective sale in recent years. The Beaumont was put out to tender in December 2021 for $478 million. Relisted in July 2022 at $468 million, it had a reduced guiding price. Both tenders failed to sell.

During the evaluation period, Nassim Hill condo The Loft set a new psf-price high. A third-floor 753-square-foot one-bedroom sold for $1.78 million or $2,362 psf on Nov. 7. This broke the September 2007 record of $4.21 million or $2,300 psf for a 1,830 sq ft flat.

The seller paid $1.54 million ($2,044 psf) for the Nov. 7 property in June 2016. The trade netted them $240,000.

Another three condos were sold at 19 Nassim this year. In February, a 1,410 sq ft apartment sold for $5.5 million ($3,906 psf), a 1,475 sq ft unit sold for $5.6 million ($3,815 psf), and a 538 sq ft unit sold for $2.09 million ($3,876 psf) in January.

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