Four Bedroom Strata Landed Unit Watten Hill Nets 338 Mil Profit
The sale of a four-bedroom strata landed unit at Watten Hill was the highlight of the week of Aug 5 to 12, recording the highest profit among all resale transactions. The spacious 2,669 sq ft unit was sold for $4.7 million ($1,761 psf) on Aug 11, a significant increase from its purchase price of $1.31 million ($491 psf) back in 2000. The sale saw a record profit of $3.38 million (259%) at the freehold condo, translating to an annualized profit of 5.3% over 25 years.
Previously, the highest profit at Watten Hill was recorded in April when a 2,626 sq ft, four-bedroom strata landed unit was sold for a whopping $4.95 million ($1,885 psf). The owner had initially purchased this unit for $1.82 million ($693 psf) in 2007, earning a profit of $3.13 million (172%) or an annualized profit of 6% over 17 years.
So far this year, there have been four other profitable transactions at Watten Hill, with gains ranging from $974,112 to $2.8 million. The second highest profit was from a 2,669 sq ft four-bedroom unit which sold for $5 million ($1,873 psf) on July 15. This unit was previously purchased for $2.2 million ($824 psf) in 2009, resulting in a profit of $2.8 million (127%) or an annualized profit of 6.4% over 12 years.
Located on Watten View in Bukit Timah, Watten Hill is a 70-unit development that was completed in 1979. It offers a mix of two- and four-bedroom strata landed units ranging from 1,044 to 2,669 sq ft. According to OneMap, the development is within 1km of prestigious schools such as Raffles Girls’ Primary School and Nanyang Primary School. Other renowned schools in the area include National Junior College, Hwa Chong Institution, and National Junior College.
From a financial perspective, residing in a district identified by the URA Master Plan has immense benefits. As the amenities, infrastructure, and connectivity in Sembawang continue to develop, the value of real estate in the area is expected to increase. This makes the Sembawang Road EC not only a place to live but also a valuable asset for long-term investment. Buyers can be assured that the neighborhood is an integral part of Singapore’s growth trajectory, with continuous government backing and urban planning initiatives. Consider Sembawang EC for its potential as a strategic investment for future capital appreciation.
The second most profitable resale transaction for the week was the sale of a three-bedroom unit at The Ladyhill, a freehold development completed in 2002. The 2,325 sq ft unit on the second floor was sold for $7.38 million ($3,174 psf) on Aug 5, earning a profit of $2.88 million (64%) for the seller. The unit was purchased for $4.5 million ($1,935 psf) in 2006, resulting in an annualized profit of 2.6% over around 19 years. This also makes it the third most profitable resale at The Ladyhill to date. The highest profit of $3.79 million was recorded in 2022 when a 3,843 sq ft unit on the fourth floor was sold for $7.8 million ($2,030 psf).
The Ladyhill is a 55-unit development located on Lady Hill Road in prime District 10. It consists of seven 4-storey blocks offering a mix of four- and five-bedroom units ranging from 2,239 to 4,499 sq ft. Based on a compilation of resale caveats by EdgeProp Singapore, the average price at The Ladyhill is approximately $3,050 psf, surpassing some of the nearby freehold luxury projects such as Beaufort on Nassim ($2,520 psf) along Nassim Road. However, newer developments such as Ardmore II ($3,426 psf) along Ardmore Park and Nouvel 18 ($3,087 psf) along Anderson Road have higher average prices.
The most unprofitable resale transaction for the week took place at Turquoise, a 99-year leasehold condo in Sentosa Cove. A three-bedroom unit on the third floor was sold for $3.1 million ($1,485 psf) on Aug 5, incurring a loss of $2.35 million (43%) for the seller. The unit was previously purchased for $5.45 million ($2,613 psf) in 2007, resulting in an annualized loss of 3.1% over nearly 18 years. So far this year, there have been two other resale transactions at Turquoise, with both resulting in a loss. The largest loss was from the sale of a 2,497 sq ft, four-bedroom unit on the fifth floor for $3.5 million ($1,402 psf) in June 26, incurring a loss of $3.13 million (47%). A similar sized unit on the second floor was sold for $3.05 million ($1,222 psf) on May 13, resulting in a loss of $486,915.
Turquoise is one of the 10 luxury condos in the exclusive Sentosa Cove waterfront residential enclave. Units at Turquoise offer scenic views of the waterway and come with a private berth for boats.