Three-bedroom unit at Watertown going for $2.4 mil
By Nicholas Lam
/ EdgeProp Singapore |
A three-bedroom unit at Watertown is slated to appear at SRI’s upcoming auction on Feb 26 (Photo: Samuel Isaac Chua / EdgeProp Singapore)
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A three-bedroom unit at Watertown, the residential component of the Waterway Point integrated development in Punggol, is slated to appear at SRI’s upcoming auction on Feb 26.
A mortgagee sale, the 1,281 sq ft unit has a guide price of $2.4 million, translating to about $1,874 psf. The same unit had previously appeared at SRI’s January auction with the same guide price, receiving one bid. However, the property was withdrawn as the bid fell below the reserve price.
The 13th-floor unit features a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony overlooking one of the condo’s 20 swimming pools. There is also an ensuite master bedroom, two additional bedrooms, and a common bathroom.
The 13th-floor unit features a combined living and dining area and an open-concept kitchen (Photo: SRI)
Based on URA caveats, the owners purchased the unit from the developers for about $1.8 million ($1,281 psf) in October 2013.
As of Feb 4, Watertown has seen one unit change hands so far this year — a two-bedroom unit spanning 958 sq ft that fetched $1.7 million ($1,775 psf) on Jan 19. Last year, the condo recorded 41 resale transactions at an average price of $1,700 psf.
Larger units in the development see stronger demand and can fetch higher psf-prices, says Eric Liew, manager of auctions and sales at SRI.
Of the 41 resale transactions at Watertown last year, 10 involved larger units with three or more bedrooms. They were sold at an average price of $1,854 psf, or about 9% higher than the condo’s overall average transacted price for the year.
A south-facing balcony overlooks one of the condo’s 20 swimming pools. (Photo: SRI)
“Interest came mostly from HDB upgraders looking for a bargain and those planning to use the unit as their primary residence due to its proximity to Punggol MRT Station,” says Liew.
Watertown is a 992-unit condo spanning 11 residential towers atop the six-storey Waterway Point shopping mall. It consists of one- to two-bedroom units from 533 to 1,003 sq ft and three- and four-bedroom units from 821 to 1,582 sq ft.
Last 10 transactions at Watertown as of Feb 6 (Source: URA, EdgeProp Singapore)
Waterway Point is integrated with Punggol MRT Station which sits on the North East Line and is also connected to Punggol LRT Station. Completed in 2017, Waterway Point was jointly developed by Far East Organisation, Frasers Centrepoint and Sekisui House.
Several primary schools are located in the area, including Edgefield Primary School at Edgefield Plains, Oasis Primary School at Punggol Drive, Punggol Green Primary School at Punggol Walk, Compassvale Primary School at Compassvale Street, and Punggol Cove Primary School at Sumang Walk.
Check out the latest listings for Watertown, Condominium properties
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