Edited article:A three-bedroom unit located on the 13th floor of Watertown, part of the Waterway Point integrated development in Punggol, will be up for auction on Feb 26 by SRI.
This unit is a mortgagee sale, and spans 1,281 sq ft with a guide price of $2.4 million, which works out to about $1,874 per square foot (psf). The same unit was previously up for auction at SRI in January with the same guide price, but only received one bid below the reserve price and was subsequently withdrawn.
The unit features a combined living and dining area, an open-concept kitchen, a utility room, and a toilet. A south-facing balcony overlooks one of the development’s 20 swimming pools. The unit also offers an ensuite master bedroom, two more bedrooms, and a common bathroom.
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According to URA caveats, the unit was originally purchased from the developers for around $1.8 million ($1,281 psf) in October 2013. As of Feb 4, there has been one unit at Watertown that has been sold this year; a two-bedroom unit of 958 sq ft that was sold for $1.7 million ($1,775 psf) on Jan 19. In 2020, there were 41 resale transactions in the development, with an average price of $1,700 psf.
Eric Liew, SRI’s auctions and sales manager, notes that the larger units in Watertown are in higher demand and can command higher psf prices. Of the 41 resale transactions last year, 10 involved units with three or more bedrooms, which were sold at an average price of $1,854 psf. This is about 9% higher than the average transacted price for the development.
Liew adds that most of the interest for Watertown comes from HDB upgraders who are looking for a good deal and buyers who plan to use the unit as their primary residence, due to its close proximity to Punggol MRT Station.
Watertown consists of 11 residential towers and 992 units, situated above six levels of Waterway Point mall. The units range from one- to two-bedroom units of 533 to 1,003 sq ft, and larger units with three to four bedrooms of 821 to 1,582 sq ft.
Waterway Point is integrated with Punggol MRT Station, which is on the North East Line and is also connected to Punggol LRT Station. It was completed in 2017 and was a joint development by Far East Organization, Frasers Centrepoint, and Sekisui House.
The area also has several primary schools 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.