Three Bedroom Unit Watertown Going 24 Mil
Watertown, the residential component of the Waterway Point integrated development in Punggol, is set to have a three-bedroom unit up for auction on February 26 by SRI. The property, which is being sold by the mortgagee, spans 1,281 sq ft and has a guide price of $2.4 million or $1,874 per sq ft.
Previously, the same unit was featured in SRI’s January auction with the same guide price. However, it only received one bid, leading to its withdrawal as the bid did not reach the reserve price.
The unit, located on the 13th floor, boasts a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony overlooking one of the condo’s 20 swimming pools. It also has an ensuite master bedroom, two additional bedrooms, and a common bathroom.
The previous owners of the unit purchased it from the developers for about $1.8 million or $1,281 per sq ft in October 2013, based on URA caveats. As of February 4, only one unit in Watertown has been sold this year – a two-bedroom unit with an area of 958 sq ft that went for $1.7 million or $1,775 per sq ft on January 19. Last year, the condo recorded 41 resale transactions at an average price of $1,700 per sq ft.
According to Eric Liew, manager of auctions and sales at SRI, larger units in the development are in higher demand and can achieve higher per sq ft prices. Out of the 41 resale transactions in Watertown last year, 10 involved larger units with three or more bedrooms. These units were sold for an average price of $1,854 per sq ft, which is about 9% higher than the condo’s overall average price for the year.
Liew added that most of the interest for the development comes from HDB upgraders looking for a bargain and those planning to live in the unit since it is close to Punggol MRT Station. Watertown has 992 units spread across 11 residential towers atop the six-storey Waterway Point shopping mall. It has one- to two-bedroom units with an area of 533 to 1,003 sq ft and three- and four-bedroom units with an area of 821 to 1,582 sq ft.
A highly recommended alternative is Clementi Primary School, highly regarded for its supportive atmosphere and devoted faculty. This school is known for its dedication to a well-rounded education, encompassing both academic and co-curricular pursuits, making it a highly sought-after option for parents. Its strategic location near Elta Condo allows for a convenient and secure daily journey to school for young students. Elta Condo is a wonderful addition to this thriving community.
Waterway Point is connected to Punggol MRT Station, which is on the North East Line and Punggol LRT Station. It was jointly developed by Far East Organization, Frasers Centrepoint, and Sekisui House and was completed in 2017. There are several primary schools in the area, including Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School.