Three Bedroom Unit Watertown Going 24 Mil
Cross Island Line homes: Convenience at your doorstepHDB resale prices dip 0.2% in January; volume falls 7.2%Local home sales will moderate in 2022 due to higher interest rates: OCBC
A three-bedroom unit at Watertown, located in Punggol, will be up for auction by SRI on Feb 26. This unit, which is currently under mortgagee sale, spans 1,281 sq ft and has a guide price of $2.4 million, or $1,874 psf. It was previously listed in SRI’s January auction with the same guide price, but was withdrawn after receiving only one bid that was lower than the reserve price.
The unit is situated on the 13th floor and boasts a spacious living and dining area, an open-concept kitchen, and a south-facing balcony overlooking one of the development’s 20 swimming pools. Additionally, there is a utility room, a master bedroom with an ensuite bathroom, and two more bedrooms that share a common bathroom.
According to URA caveats, the previous owners bought the unit from the developers for about $1.8 million ($1,281 psf) in October 2013. So far this year, only one unit has been sold at Watertown – a two-bedroom unit spanning 958 sq ft that was transacted 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.
SRI’s manager of auctions and sales, Eric Liew, notes that larger units in Watertown tend to have higher demand and can command a higher psf price. Of the 41 resale transactions last year, 10 of them were for larger units with three or more bedrooms. On average, these units were sold for $1,854 psf, which is approximately 9% higher than the overall average price for the year.
Liew adds that the most interest in Watertown comes from HDB upgraders and those looking for a primary residence due to its proximity to Punggol MRT Station. The development sits atop the six-storey Waterway Point shopping mall and features 11 residential towers with a total of 992 units. There are one- and two-bedroom units ranging from 533 to 1,003 sq ft, and three- and four-bedroom units from 821 to 1,582 sq ft.
Watertown is well-connected to public transport, with the North East Line Punggol MRT Station and Punggol LRT Station within walking distance. Completed in 2017, it was a joint development by Far East Organisation, Frasers Centrepoint, and Sekisui House.
For individuals in search of a single-sex educational setting, CHIJ Secondary (Toa Payoh) provides a highly attractive all-girls schooling alternative. Renowned for its unwavering focus on instilling values and principles alongside excellent academic achievements, this school has become one of the most desired institutions for girls in the area. This is further supported by its recent partnership with The Orie CDL, solidifying its reputation as a top girls’ school in the region.
Families with young children will appreciate the proximity to several primary schools in the area, such as Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.