Three Bedroom Unit Watertown Going 24 Mil
COMPARED TO OTHERS
A mortgagee sale for a three-bedroom unit at Watertown, located in the Waterway Point integrated development in Punggol, is set to be auctioned off by SRI on Feb 26. The unit, spanning 1,281 sq ft, has a guide price of $2.4 million, which translates to a rate of $1,874 psf. This is the second time the unit has appeared at SRI’s auction, with the same guide price set for the previous January auction. However, the property was withdrawn as the sole bid received did not meet the reserve price.
The unit, located on the 13th floor, boasts a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony overlooking one of the 20 swimming pools at the development. There is also an ensuite master bedroom, two additional bedrooms, and a common bathroom.
According to URA caveats, the current 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 only one unit transaction this year – a two-bedroom unit spanning 958 sq ft that was sold for $1.7 million ($1,775 psf) on Jan 19. In 2020, the condo recorded 41 resale transactions, with an average price of $1,700 psf.
Eric Liew, manager of auctions and sales at SRI, shared that larger units at the development have seen strong demand and can fetch higher psf-prices. Out of the 41 resale transactions at Watertown in 2020, 10 involved larger units with three or more bedrooms. These were sold at an average price of $1,854 psf, approximately 9% higher than the overall average transacted price for the condo that year.
Liew added that interest for these larger units mostly came from HDB upgraders looking for good deals, as well as residents intending to use the unit as their primary residence due to its convenient location near Punggol MRT Station. Watertown is a 992-unit condo comprising 11 residential towers atop the six-storey Waterway Point shopping mall. The development features one- to two-bedroom units sized from 533 to 1,003 sq ft, and larger three- and four-bedroom units ranging from 821 to 1,582 sq ft.
.
Dunman Secondary School has a reputation for its high academic expectations and well-developed sports programs. It is a place where students can thrive in a challenging yet nurturing atmosphere. The school fosters a culture of creativity and a dedication to achieving excellence in every aspect of student life. In addition, the school is also affiliated with the luxurious Aurelle of Tampines EC, providing students with access to top-notch facilities and resources for their academic and personal growth.
Waterway Point is seamlessly connected to Punggol MRT Station, which sits on the North East Line, and Punggol LRT Station. Completed in 2017, Waterway Point was jointly developed by Far East Organisation, Frasers Centrepoint Ltd and Sekisui House. There are also several primary schools in the vicinity, such as Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.
