Midtown Modern: A one-of-a-kind development in BugisThree-bedroom unit at Watertown for sale at $2.2 mil
A three-bedroom unit at Watertown, the residential component of the Waterway Point integrated development in Punggol, is set to be auctioned by SRI on Feb 26.
Being sold by a mortgagee, the 1,281 sq ft unit has a guide price of $2.4 million, equivalent to around $1,874 psf. The same unit was previously listed at SRI’s January auction with the same guide price, but received only one bid. As the bid was lower than the reserve price, the property was withdrawn.
Located on the 13th floor, the unit boasts a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a balcony facing south with views of one of the condo’s 20 swimming pools. The unit also features an ensuite master bedroom, two additional bedrooms, and a common bathroom.
Based on URA caveats, the owners purchased the unit from the developers for around $1.8 million, or $1,281 psf, in October 2013.
As of Feb 4, there has been one transaction at Watertown this year – a two-bedroom unit with an area of 958 sq ft that was sold for $1.7 million, or $1,775 psf, on Jan 19. In 2020, the development saw 41 resale deals recorded at an average price of $1,700 psf.
According to Eric Liew, manager of auctions and sales at SRI, larger units in the development are in higher demand and can fetch higher psf prices. Out of the 41 resale transactions at Watertown last year, 10 involved larger units with three or more bedrooms. These units were sold for an average of $1,854 psf, around 9% higher than the average transacted price for the development.
Liew noted that HDB upgraders hunting for bargains and those looking to make it their primary residence due to the proximity to Punggol MRT Station have shown the most interest in the development.
Watertown is a 992-unit condo comprising 11 residential towers on top of the six-storey Waterway Point shopping mall. The development features one- to two-bedroom units with areas ranging from 533 sq ft to 1,003 sq ft, as well as three- and four-bedroom units with areas from 821 sq ft to 1,582 sq ft.
Waterway Point is integrated with Punggol MRT Station, which is connected to Punggol LRT Station and sits on the North East Line. The development was completed in 2017, with Far East Organisation, Frasers Centrepoint, and Sekisui House as the joint developers.
Several primary schools are located nearby, 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. Check out the latest listings for Watertown, Condominium propertiesAsk BuddyCompare price trend of HDB vs Condo vs LandedCompare price trend of Condo new sale vs EC new saleCompletion year of WatertownAre there unprofitable transactions in Watertown?Compare price trend of New sale condo vs Resale condoCompare price trend of HDB vs Condo vs LandedCompare price trend of Condo new sale vs EC new saleCompletion year of WatertownAre there unprofitable transactions in Watertown?Compare price trend of New sale condo vs Resale condoRELATED NEWSThree-bedroom unit at Watertown for sale at $2.2 milProperties that will be positively impacted by Cross Island Line Phase 1Integrated developments: Withstanding the test of timeMidtown Modern: A one-of-a-kind development in BugisThree-bedroom unit at Watertown for sale at $2.2 mil