Tags: real estate news, property news
A three-bedroom unit at Watertown, situated in Punggol’s integrated development Waterway Point, is set to go under the hammer at SRI’s auction on Feb 26. Previously listed at the same price in January’s auction, the 1,281 sq ft property has a guide price of $2.4 million, which equates to around $1,874 per square foot (psf).
The unit, which is being sold by a mortgagee, received one bid in January’s auction but was withdrawn as it did not meet the reserve price. The 13th-floor unit boasts a combined living and dining area, an open-concept kitchen, a utility room and toilet, as well as a balcony with a south-facing view of one of the condo’s 20 swimming pools. In addition, there is an ensuite master bedroom, two more bedrooms, and a common bathroom.
According to URA caveats, the current owners acquired the unit from the developers for approximately $1.8 million ($1,281 psf) in October 2013. As of Feb 4, Watertown has seen one transaction this year — a two-bedroom unit with an area of 958 sq ft, which sold for $1.7 million ($1,775 psf) on Jan 19. Last year, there were 41 resale transactions in the development at an average price of $1,700 psf.
SRI’s manager of auctions and sales, Eric Liew, says that larger units in Watertown are in higher demand and can fetch higher psf prices. Out of the 41 resale transactions last year, 10 of them involved larger units with three or more bedrooms, which were sold at an average price of $1,854 psf, about 9% higher than the overall average price for the development.
Liew attributes the demand for these units to HDB upgraders looking for a good deal and those who plan to reside in the unit due to its proximity to Punggol MRT Station. Watertown is a 992-unit condominium consisting of one- to two-bedroom apartments ranging from 533 to 1,003 sq ft and three- and four-bedroom units ranging from 821 to 1,582 sq ft. It sits atop the six-storey Waterway Point shopping mall and was jointly developed by Far East Organisation, Frasers Centrepoint, and Sekisui House. Waterway Point is integrated with Punggol MRT Station, which is located on the North East Line and is connected to the Punggol LRT Station. The mall was completed in 2017.
There are several primary schools 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. Watertown’s completion year is 2017.
Looking at the latest listings, Watertown is a condominium property that may interest you. If you’re curious, you can compare the price trend of HDBs, Condos, and Landed properties, as well as the price trend of newly built condos vs executive condominiums. Last but not least, you can also compare the price trend of brand-new and resale condos.