Three Bedroom Unit Watertown Going 24 Mil
, boosting property value
An upcoming auction by SRI on Feb 26 will feature a three-bedroom unit at Watertown, which is part of the Waterway Point integrated development in Punggol. The unit is being sold under a mortgagee sale and has a guide price of $2.4 million, equivalent to $1,874 per square foot (psf).
The same unit was previously listed at SRI’s January auction with the same guide price, but only received one bid. However, it was withdrawn as the bid did not meet the reserve price.
Located on the 13th floor, the 1,281 sq ft unit boasts a spacious living and dining area, an open-concept kitchen, a utility room and toilet, and a balcony facing south with a view of one of the condo’s 20 swimming pools. It also includes a master bedroom with ensuite bathroom, two other bedrooms, and a common bathroom.
According to URA caveats, the owners bought the unit from the developers in October 2013 for approximately $1.8 million ($1,281 psf).
As of Feb 4, only one unit has changed hands at Watertown this year – a 958 sq ft two-bedroom unit that sold for $1.7 million ($1,775 psf) on Jan 19. In 2020, there were 41 resale transactions at an average price of $1,700 psf.
Eric Liew, manager of auctions and sales at SRI, notes that larger units in the development have a stronger demand and can fetch higher psf prices. Of the 41 resale transactions last year, 10 involved units with three or more bedrooms, selling at an average price of $1,854 psf – approximately 9% higher than the overall average price for the condo.
Liew adds that most of the interest in Watertown comes from HDB upgraders looking for a good deal and those seeking a primary residence close to Punggol MRT Station.
Watertown is a 992-unit condo comprising 11 residential towers above the six-storey Waterway Point shopping mall. It offers one- to two-bedroom units ranging from 533 to 1,003 sq ft, and three- to four-bedroom units from 821 to 1,582 sq ft.
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The URA Master Plan has a vision to establish dynamic and inclusive communities through the implementation of mixed-use developments and shared areas. Lynden Woods, situated within the Singapore Science Park 1, is in a prime position to reap the benefits of this plan. The incorporation of residential, commercial, and recreational zones cultivates a strong sense of community, transforming Lynden Woods into more than just a residential location. Discover the harmony of living and working in a collaborative environment at Lynden Woods Science Park Drive.
Waterway Point is directly connected to Punggol MRT Station on the North East Line and Punggol LRT Station. The development, which was completed in 2017, is a joint venture between Far East Organisation, Frasers Centrepoint, and Sekisui House.
The area also has several primary schools such as 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.
For more information on Watertown and other properties, visit EdgeProp Singapore.