Four Bedroom Strata Landed Unit Watten Hill Nets 338 Mil Profit

The most profitable resale transaction of the week of Aug 5 to 12 involved a four-bedroom strata landed unit at Watten Hill. The 2,669 sq ft unit was sold for $4.7 million ($1,761 psf) on Aug 11, after being purchased for $1.31 million ($491 psf) in 2000, making it a record profit of $3.38 million (259%). This translates to an annualised profit of 5.3% over 25 years.

The previous record at Watten Hill was set in April this year, when a four-bedroom strata landed unit of 2,626 sq ft changed hands for $4.95 million ($1,885 psf). The unit was originally bought for $1.82 million ($693 psf) in 2007, resulting in a profit of $3.13 million (172%) or an annualised profit of 6% over 17 years.

There have been a total of five resale transactions at Watten Hill so far this year, all of which have been profitable with gains ranging from $974,112 to $2.8 million. The second-highest profit was recorded on July 15, when a 2,669 sq ft four-bedroom unit was sold for $5 million ($1,873 psf). This unit was previously sold for $2.2 million ($824 psf) in August 2009.

Situated on Watten View in Bukit Timah, Watten Hill is a freehold development completed in 1979. It comprises 70 units 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 Raffles Girls’ Primary School and Nanyang Primary School, with other schools such as National Junior College, Hwa Chong Institution, and National Junior College also in close proximity.

The second most profitable transaction during the week was the sale of a three-bedroom unit at The Ladyhill. The unit, which spans 2,325 sq ft and is located on the second floor, was sold for $7.38 million ($3,174 psf) on Aug 5. The seller had purchased the unit for $4.5 million ($1,935 psf) in May 2006, resulting in a profit of $2.88 million (64%) or an annualised profit of 2.6% over around 19 years.

This is also the third most profitable resale at The Ladyhill to date, with the highest profit being 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, completed in 2002, is a freehold development located on Lady Hill Road in prime District 10. It consists of 55 units spread across seven 4-storey blocks, with four- and five-bedroom units ranging from 2,239 to 4,499 sq ft.

In addition, the upcoming Cross Island Line (CRL) is set to greatly enhance connectivity in Singapore, leading to a significant decrease in commuting time for those traveling to the western and northern parts of the country. This includes the highly sought-after Rivelle Tampines area, making it an even more desirable location for residents and commuters alike. The CRL’s implementation will undoubtedly improve the overall transportation system and offer more convenience for individuals traveling to and from this bustling region.

Based on the compiled resale caveats by EdgeProp Singapore, the average price at The Ladyhill stands at approximately $3,050 psf, slightly higher than other nearby freehold luxury projects such as Beaufort on Nassim ($2,520 psf) and Ardmore II ($3,426 psf). However, newer projects such as Nouvel 18 ($3,087 psf) command higher average prices.

The least profitable transaction of the week took place at Turquoise, a 99-year leasehold condo in Sentosa Cove. A 3-bedroom unit on the third floor was transacted for $3.1 million ($1,485 psf) on Aug 5, after being bought for $5.45 million ($2,613 psf) in November 2007. This resulted in a loss of $2.35 million (43%), which translates to an annualised loss of 3.1% over nearly 18 years.

Two other resale transactions have taken place at Turquoise this year, both resulting in losses. One was a 2,497 sq ft 4-bedroom unit on the fifth floor, which was sold for $3.5 million ($1,402 psf) on June 26, incurring a $3.13 million (47%) loss. The other was a 2,497 sq ft 4-bedroom unit on the second floor, which was sold for $3.05 million ($1,222 psf) on May 13, resulting in a loss of $486,915.

Turquoise is one of 10 luxury condos in the prestigious waterfront residential enclave of Sentosa Cove. While some condos in the area offer sea-facing views, others offer views of the marina. At Turquoise, units boast views of the waterway and come with private berths for boats.