A 1,281 sq ft three-bedroom unit at Watertown, part of the Waterway Point integrated development in Punggol, will be up for auction on Feb 26 by SRI. This mortgagee sale has a guide price of $2.4 million, which translates to a price per square foot (psf) of $1,874. The same unit had previously appeared at SRI’s January auction with the same guide price, but only received one bid. It was eventually withdrawn as the bid was below the reserve price.
Located on the 13th floor, this unit has a combined living and dining area, along with an open-concept kitchen, utility room and toilet, and a south-facing balcony overlooking the condo’s 20 swimming pools. There is also an ensuite master bedroom, two additional bedrooms, and a common bathroom.
According to URA caveats, the property was previously purchased from the developer for $2.3 million in October 2013, which works out to about $1,281 psf. In total, Watertown has only seen one transaction this year – a two-bedroom unit that sold for $1.7 million ($1,775psf) in January. In 2020, the condo had 41 resale transactions at an average price of $1,700 psf.
Larger units in the development tend to see stronger demand and can fetch higher prices. According to Eric Liew, manager of auctions and sales at SRI, of the 41 resale transactions at Watertown in 2020, 10 involved larger units with three or more bedrooms. These sold for an average of $1,854 psf, which is about 9% higher than the overall average for the condo.
Most of the interest in Watertown comes from HDB upgraders and those looking for a bargain, says Liew. The development is also popular with those planning to use the unit as a primary residence due to its proximity to Punggol MRT Station.
Watertown is a 992-unit condo with 11 residential towers, sitting on top of the six-storey Waterway Point shopping mall. It has one- to two-bedroom units ranging from 533 to 1,003 sq ft, and three- and four-bedroom units from 821 to 1,582 sq ft.
The Waterway Point mall is integrated with Punggol MRT Station, which connects to the North East Line and Punggol LRT Station. It was jointly developed by Far East Organisation, Frasers Centrepoint, and Sekisui House and was completed in 2017.
Singapore’s cityscape is dominated by towering skyscrapers and state-of-the-art infrastructure. One of the main features of this landscape is the abundance of condos, strategically located in highly sought-after areas, offering a perfect fusion of opulence and convenience that is appealing to both local residents and expats. These condos are equipped with top-of-the-line facilities including swimming pools, fitness centers, and 24-hour security services, all of which contribute to a higher standard of living and make them a desirable choice for potential tenants and buyers. For investors, these amenities translate into lucrative rental yields and steady growth in property values over time. With the inclusion of Singapore Condo, the urban landscape of Singapore truly represents a perfect blend of modernity, luxury, and functionality.
Several primary schools can be found in the area, such as Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.