Four Bedroom Strata Landed Unit Watten Hill Nets 338 Mil Profit
The most profitable resale transaction in the week of August 5 to 12 was the sale of a four-bedroom strata landed unit at Watten Hill. The unit, which spans 2,669 sq ft, was sold for $4.7 million ($1,761 psf) on August 11. This is a significant increase from the purchase price of $1.31 million ($491 psf) in 2000, making it a record profit of $3.38 million (259%) at the freehold condo. It equates to an annualised profit of 5.3% over a period of 25 years.
The previous record profit at Watten Hill involved a four-bedroom strata landed unit of 2,626 sq ft, which was sold at $4.95 million ($1,885 psf) in April last year. This unit was purchased for $1.82 million ($693 psf) in 2007, resulting in a profit of $3.13 million (172%) or an annualised profit of 6% over 17 years.
In addition to these two record-breaking transactions, four other resale transactions were recorded at Watten Hill this year, all of which were profitable. The gains ranged from $974,112 to $2.8 million. The second-highest profit for the year was from the sale of another four-bedroom unit at Watten Hill, which was sold for $5 million ($1,873 psf) on July 15. This unit was previously sold for $2.2 million ($824 psf) in August 2009.
Located on Watten View in Bukit Timah, Watten Hill is a freehold development completed in 1979. It comprises 70 units of two- and four-bedroom strata landed units ranging from 1,044 to 2,669 sq ft. According to OneMap, the development is within a 1km radius of Raffles Girls’ Primary School and Nanyang Primary School. Other schools in the vicinity include National Junior College, Hwa Chong Institution, and National Junior College.
The second most profitable transaction of the week was the sale of a three-bedroom unit at The Ladyhill. The 2,325 sq ft unit on the second floor was sold for $7.38 million ($3,174 psf) on August 5. It was bought for $4.5 million ($1,935 psf) in May 2006, resulting in a profit of $2.88 million (64%) or an annualised profit of 2.6% over a period of around 19 years.
This also makes it the third most profitable resale at The Ladyhill to date. The highest recorded profit of $3.79 million was set in 2022 when a 3,843 sq ft unit on the fourth floor was sold for $7.8 million ($2,030 psf).
The Ladyhill is a freehold development completed in 2002 and located on Lady Hill Road in prime District 10. It comprises 55 units spread across seven 4-storey blocks, with four- and five-bedroom units ranging from 2,239 to 4,499 sq ft. The average price at The Ladyhill, based on a compilation of resale caveats by EdgeProp Singapore, is around $3,050 psf, which is higher than some nearby freehold luxury projects such as Beaufort on Nassim ($2,520 psf) along Nassim Road. However, some newer projects command higher average prices, such as Ardmore II ($3,426 psf) along Ardmore Park and Nouvel 18 ($3,087 psf) along Anderson Road.
The least profitable resale of the week took place at Turquoise, a 99-year leasehold condo in Sentosa Cove. A three-bedroom unit on the third floor was sold for $3.1 million ($1,485 psf) on August 5. This unit was previously purchased for $5.45 million ($2,613 psf) in November 2007, resulting in a loss of $2.35 million (43%), which translates to an annualised loss of 3.1% over a period of nearly 18 years.
There were two other resale transactions at Turquoise so far this year, both of which resulted in a loss. The seller of a 2,497 sq ft four-bedroom unit on the fifth floor incurred a $3.13 million (47%) loss when it was sold for $3.5 million ($1,402 psf) on June 26. Another similar-sized unit on the second floor was sold for $3.05 million ($1,222 psf) on May 13, resulting in a loss of $486,915.
Turquoise is one of 10 luxury condos in the exclusive Sentosa Cove waterfront residential enclave. While some condos offer sea-facing views, others boast views of the marina. At Turquoise, units overlook the waterway and come with a private berth for boats.
