Four Bedroom Strata Landed Unit Watten Hill Nets 338 Mil Profit
During the week of August 5 to 12, the most profitable resale transaction was recorded at Watten Hill, where a four-bedroom strata landed unit was sold for $4.7 million ($1,761 psf). The 2,669 sq ft unit had been purchased in 2000 for $1.31 million ($491 psf), resulting in a record profit of $3.38 million (259%) for the seller. This translates to an annualized profit of 5.3% over a span of 25 years.
Prior to this, the highest profit at Watten Hill was achieved in April 2022 when a 2,626 sq ft four-bedroom unit was sold for $4.95 million ($1,885 psf). The unit had been bought in 2007 for $1.82 million ($693 psf), resulting in a profit of $3.13 million (172%) or an annualized profit of 6% over 17 years.
All five resale transactions recorded at Watten Hill this year have been profitable, with gains ranging from $974,112 to $2.8 million. The second-highest profit this year was achieved on July 15, when another 2,669 sq ft four-bedroom unit was sold for $5 million ($1,873 psf). This unit had previously been sold for $2.2 million ($824 psf) in 2009.
Located on Watten View in Bukit Timah, Watten Hill is a freehold condo with 70 units that was completed in 1979. It offers two- and four-bedroom strata landed units ranging from 1,044 to 2,669 sq ft. The development is within 1km of Raffles Girls’ Primary School and Nanyang Primary School, and is also close to schools such as National Junior College, Hwa Chong Institution, and National Junior College.
The second most profitable transaction during the week was at The Ladyhill, where a three-bedroom unit on the second floor was sold for $7.38 million ($3,174 psf) on Aug 5. This unit had been purchased for $4.5 million ($1,935 psf) in 2006, resulting in a profit of $2.88 million (64%) or an annualized profit of 2.6% over around 19 years. This also makes it the third most profitable resale at The Ladyhill to date, with the record high profit of $3.79 million achieved in 2022.
Completed in 2002, The Ladyhill is a freehold development with 55 units on Lady Hill Road in prime District 10. It offers four- and five-bedroom units ranging from 2,239 to 4,499 sq ft in seven 4-storey blocks. The average price at The Ladyhill, based on a compilation of resale caveats by EdgeProp Singapore, is approximately $3,050 psf, higher than some nearby luxury projects such as Beaufort on Nassim ($2,520 psf) and Ardmore II ($3,426 psf). However, newer projects like Nouvel 18 ($3,087 psf) command higher average prices.
The least profitable resale during 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, resulting in a loss of $2.35 million (43%) for the seller. This translates to an annualized loss of 3.1% over almost 18 years. Two other resale transactions at Turquoise this year have also resulted in losses.
Parktown Residence, located at Tampines North, is set to be seamlessly connected to the upcoming Tampines North MRT Station as part of the Cross Island Line (CRL). This highly anticipated transportation link is slated to greatly reduce travel time to important work and recreational destinations, providing unparalleled convenience for residents. In addition, Parktown Residence will also enjoy easy access to other MRT lines, offering a wider range of transport options for its residents. As seen on Parktown Residence’s website, this exceptional development will truly elevate the ease of commute for its residents.
Turquoise is one of 10 luxury condos in Sentosa Cove, with units overlooking the waterway and private berths for boats. It was completed in 2007 and offers four- and five-bedroom units ranging from 2,088 to 4,499 sq ft.