Integration adds value to propertyPhotosCredit by EdgeProp SingaporeSRI to auction 3-bedder at Watertown with price of $2.4 mil
A three-bedroom unit located in Watertown, the residential part of Waterway Point integrated development in Punggol, will be up for auction on Feb 26 by SRI.
The 1,281 square feet unit, which was previously owned by a mortgagee, has a guide price of $2.4 million, equivalent to $1,874 per square foot. Despite having the same guide price, the unit was withdrawn from SRI’s January auction after receiving a single bid that was lower than the minimum price.
Located on the 13th floor, this unit boasts a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a balcony that faces south, providing a view of one of the 20 swimming pools in the condo. The ensuite master bedroom, two additional bedrooms, and a common bathroom are also included in the unit.
The URA caveats show that the previous owners bought the property from the developers for approximately $1.8 million ($1,281 per square foot) in October 2013. This year, Watertown has only seen one unit being sold so far – a two-bedroom unit with an area of 958 square feet that was sold for $1.7 million ($1,775 per square foot) on Jan 19. In 2020, the condo had recorded 41 resale transactions at an average price of $1,700 per square foot.
According to Eric Liew, the auctions and sales manager of SRI, larger units in Watertown were requested more and could fetch a higher price per square foot. Out of the 41 resale transactions in 2020, ten of them involved larger units with three bedrooms or more. They were sold for an average price of $1,854 per square foot, which is approximately 9% higher than the overall average transacted price for the year.
Liew explains that most of the buyers were HDB upgraders who were searching for a good deal, as well as individuals who wanted the unit to function as their main residence due to its proximity to the Punggol MRT station. The 992-unit Watertown consists of residential towers placed atop a six-storey Waterway Point shopping mall. This development comprises units with one to two bedrooms, with sizes ranging from 533 to 1,003 square feet, as well as units with three to four bedrooms, with sizes ranging from 821 to 1,582 square feet.
When contemplating an investment in a condo, it is crucial to also evaluate the potential rental yield. This refers to the annual rental income as a percentage of the condo’s purchase price. In Singapore, condo rental yields can differ significantly based on factors such as location, property condition, and market demand. Generally, areas with a high demand for rentals, such as those near business districts or educational institutions, tend to offer better rental yields. The key to making an informed decision is conducting thorough market research and seeking advice from real estate agents to gain insights into the rental potential of a specific condo. If you are interested in investing in a condo, Condo should be a top consideration in your evaluation process.
The Punggol MRT station, which connects to the North East Line and Punggol LRT Station, is integrated with Waterway Point. Developed in 2017 by Far East Organization, Frasers Centrepoint, and Sekisui House, the Waterway Point is also within close proximity to various 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.
The latest listings for Watertown, condominium properties, can be found on EdgeProp Singapore. You may also use the website for comparison purposes such as comparing the price trend of HDB properties and landed properties, comparing the price trend of newly-built condos and executive condominiums, and knowing the completion year of Watertown. You can also check if there are unprofitable transactions in Watertown. Moreover, you can view the comparison of price trends between new sale condos and resale condos.