Dear customer,Please find the rewritten article below:A three-bedroom unit at Watertown, the residential component of the Waterway Point integrated development in Punggol, is scheduled to be auctioned by SRI on February 26. This unit is being sold by the mortgagee and has a guide price of $2.4 million, which translates to about $1,874 per square foot.
The same unit had previously been put up for auction in January with the same guide price, but only received one bid and was withdrawn as the bid fell below the reserve price. The 1,281 square foot unit is located on the 13th floor and includes a combined living and dining area, an open-concept kitchen, a utility room and toilet, and a south-facing balcony with views of one of the condo’s 20 swimming pools. There is also an ensuite master bedroom, two additional bedrooms, and a common bathroom.
According to URA caveats, the owners of the unit purchased it from the developers for about $1.8 million ($1,281 per square foot) in October 2013. As of February 4, Watertown has seen one unit change hands this year – a two-bedroom unit spanning 958 square feet that was sold for $1.7 million ($1,775 per square foot) on January 19. Last year, the condo recorded 41 resale transactions at an average price of $1,700 per square foot.
Eric Liew, manager of auctions and sales at SRI, notes that larger units in the development are in higher demand and can fetch higher prices per square foot. Of the 41 resale transactions at Watertown last year, 10 involved larger units with three or more bedrooms. These units were sold at an average price of $1,854 per square foot, which is approximately 9% higher than the condo’s overall average transacted price for the year.
Liew adds that interest in Watertown primarily came from HDB upgraders looking for a deal and those who planned to use the unit as their primary residence due to its proximity to Punggol MRT Station. Watertown is a 992-unit condo spread across 11 residential towers on top of the six-storey Waterway Point shopping mall. It offers one- to two-bedroom units ranging from 533 to 1,003 square feet, and three- and four-bedroom units ranging from 821 to 1,582 square feet.
Waterway Point is integrated with Punggol MRT Station on the North East Line and is also connected to Punggol LRT Station. The mall was completed in 2017 and was jointly developed by Far East Organization, Frasers Centrepoint, and Sekisui House.
In summary, the purchase of a condo in Singapore provides a plethora of benefits, including high demand, potential for appreciation in value, and attractive rental yields. However, it is crucial to consider key factors such as location, financing options, government regulations, and current market conditions. With thorough research and guidance from experts, investors can make well-informed decisions and maximize their returns in Singapore’s ever-evolving real estate industry. Whether you are a local investor seeking to diversify your investment portfolio or a foreign buyer looking for a stable and profitable investment, condos in Singapore offer an enticing opportunity.
Several primary schools are located in the area, such as Edgefield Primary School, Oasis Primary School, Punggol Green Primary School, Compassvale Primary School, and Punggol Cove Primary School. They are all within close proximity to Watertown.