A three-bedroom unit at Watertown, the residential component of the Waterway Point integrated development in Punggol, is set to be featured in SRI’s upcoming auction on February 26th.
Previously listed for sale in SRI’s January auction, the 1,281 sq ft unit is being sold by the mortgagee with a guide price of $2.4 million, amounting to about $1,874 per square foot (psf). Despite only receiving one bid at the previous auction, the property was withdrawn due to the bid falling below the reserve price.
Located on the 13th floor, the unit features a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony that overlooks one of the condo’s 20 swimming pools. Additionally, there is an ensuite master bedroom, two other bedrooms, and a common bathroom.
The current owners had bought the unit from the developers for approximately $1.8 million ($1,281 psf) in October 2013, according to URA caveats. This year, only one unit has changed hands at Watertown so far – a two-bedroom unit measuring 958 sq ft that was sold for $1.7 million ($1,775 psf) on January 19. In 2020, there were a total of 41 resale transactions at the condo with an average price of $1,700 psf.
According to Eric Liew, manager of auctions and sales at SRI, larger units at Watertown tend to see a higher demand and can command a higher psf price. Out of the 41 resale transactions last year, 10 involved larger units with three or more bedrooms that were sold at an average price of $1,854 psf, approximately 9% higher than the condo’s overall average transacted price for the year.
Liew also noted that most of the interest for these larger units came from HDB upgraders looking for a bargain or individuals planning to use the unit as their primary residence due to its convenient location next to Punggol MRT Station.
Featuring 992 units spread across 11 residential towers above the six-storey Waterway Point shopping centre, Watertown offers one- to two-bedroom units that range from 533 to 1,003 sq ft, and three- and four-bedroom units that span 821 to 1,582 sq ft.
Waterway Point is seamlessly connected to Punggol MRT Station on the North East Line and Punggol LRT Station, and was jointly developed by Far East Organisation, Frasers Centrepoint, and Sekisui House. Families with young children will find several primary schools situated in the area, including Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.
Buyers interested in the Watertown unit for sale, or who would like to check out other condominium properties, can visit EdgeProp for more information.
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