Four-bedroom strata landed unit at Watten Hill nets $3.38 mil profit
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The sale of a four-bedroom strata landed unit at Watten Hill was the most profitable resale transaction during the week of Aug 5 to 12. The 2,669 sq ft unit changed hands for $4.7 million ($1,761 psf) on Aug 11, more than two decades after the seller purchased it for $1.31 million ($491 psf) in 2000. The transaction saw a record profit of $3.38 million (259%) at the freehold condo, which translates to an annualised profit of 5.3% over 25 years.
The previous record profit at Watten Hill involved a 2,626 sq ft, four-bedroom strata landed unit which fetched $4.95 million ($1,885 psf) last April. The unit had been bought for $1.82 million ($693 psf) in 2007, and hence the seller raked in a profit of $3.13 million (172%) or an annualised profit of 6% over 17 years.
Four other resale transactions have been recorded at Watten Hill so far this year and each has been profitable, with gains from $974,112 to $2.8 million. Apart from the Aug 5 transaction, the sale that saw the next highest profit this year involved another 2,669 sq ft four-bedder that was sold for $5 million ($1,873 psf) on July 15. That unit had previously fetched $2.2 million ($824 psf) in August 2009.
The four-bedroom landed unit at Watten Hill was sold for $4.7 million ($1,761 psf) on Aug 11. (Picture: The Edge Singapore)
Located on Watten View in Bukit Timah, Watten Hill is a 70-unit development that was completed in 1979. It consists of two- and four-bedroom strata landed units of 1,044 to 2,669 sq ft. Based on OneMap, the development is within 1km of Raffles Girls’ Primary School and Nanyang Primary School. Other schools in its proximity include National Junior College, Hwa Chong Institution, and National Junior College.
Second in the list of profitable transactions for the week was the sale of a three-bedroom unit at The Ladyhill. The 2,325 sq ft unit on the second floor changed hands for $7.38 million ($3,174 psf) on Aug 5. It was purchased for $4.5 million ($1,935 psf) in May 2006. Hence, the seller made a profit of $2.88 million (64%), which translates to an annualised profit of 2.6% over around 19 years.
This also makes it the third most profitable resale at The Ladyhill to date. The record high profit of $3.79 million was set in 2022 when a 3,843 sq ft unit on the fourth floor fetched $7.8 million ($2,030 psf).
Completed in 2002, The Ladyhill is a freehold development on Lady Hill Road in prime District 10. The 55-unit project comprises seven 4-storey blocks with a mix of four- and five-bedroom units that span 2,239 to 4,499 sq ft.
The seller of a three-bedder at The Ladyhill made a profit of $2.88 million when it was sold on Aug 5. (Picture: Samuel Isaac Chua/The Edge Singapore)
Based on a compilation of resale caveats by EdgeProp Singapore, the average price at The Ladyhill is approximately $3,050 psf, higher than some of the nearby freehold luxury projects such as Beaufort on Nassim ($2,520 psf) along Nassim Road. However, some newer projects command higher average prices, such as Ardmore II ($3,426 psf) along Ardmore Park and Nouvel 18 ($3,087 psf) along Anderson Road.
The most unprofitable 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 transacted for $3.1 million ($1,485 psf) on Aug 5. The 2,088 sq ft unit had been bought for $5.45 million ($2,613 psf) in November 2007. Thus, the seller incurred a loss of $2.36 million (43%), which translates to an annualised loss of 3.1% over nearly 18 years.
A three-bedder at Turquoise fetched $3.1 million ($1,485 psf) on Aug 5.
There were two other resale transactions at Turquoise so far this year, with both resulting in a loss. The seller of a 2,497 sq ft four-bedder on the fifth floor incurred a $3.13 million (47%) loss when the unit was sold for $3.5 million ($1,402 psf) on June 26. A similarly sized 2,497 sq ft, four-bedroom unit on the second floor was transacted for $3.05 million ($1,222 psf) on May 13, and the seller made a loss of $486,915.
Turquoise is one of 10 luxury condos in the exclusive Sentosa Cove waterfront residential enclave. While some condos have sea-facing views, others boast of views of the marina. At Turquoise, units overlook the waterway, and come with private berth for boats.
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