Watten House shatters records in District 11 with S$14.212M sale

6 min read

Recently, new launch condos have been making headlines, breaking records and setting new standards in the real estate market.

Among these developments, Watten House stands out as another prime example of success. During its preview on November 18, the luxury condominium in Bukit Timah exceeded expectations, with over half of its 180 units sold.

And one transaction in particular stood out:

Watten House’s record-breaking sale

Watten House, located at Shelford Road, Bukit Timah, has garnered attention for its record-breaking sale of S$14.212 million. 

This double-storey, 6-bedroom penthouse, part of the prestigious Sky Villa Prestige Collection, is situated on the 5th floor of block 40. With an expansive floor area of 4,080 square feet, the property boasts a luxurious living space. 

The price per square foot (psf) is an impressive S$3,484, reflecting the exclusivity and desirability of this prime piece of real estate.

Watten house Sky Villa Prestige Collection floor plan - Watten house record-breaking sale in District 11’
Image credit: UOL Group and Singapore Land Group (SingLand)

Watten House sales transactions trend

The collaboration between UOL Group and Singapore Land Group (SingLand) resulted in the successful sale of 57% of the luxury freehold project, totaling 102 units. 

The average price achieved on the first day of the preview was around S$3,230 psf. Notably, three out of the eight penthouses, including the Sky Villa Prestige Collection at Watten House, were sold, with prices ranging from S$11.7 million to S$14.5 million.

In terms of unit types, Watten House offers larger living spaces, starting with three-bedders priced from S$3 million, four-bedders exceeding S$5 million, and five-bedders starting from S$7.4 million. 

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A staggering 96% of the buyers are Singaporeans and Singapore permanent residents, emphasising the appeal of Watten House for families, given its family-friendly unit sizes and proximity to various schools in the area.

As of now, here’s a table of the most expensive transactions in Watten House:

Date Block Unit floor Bedroom Floor area (sqft) Price Unit price PSF
17/11/2023 40 5 6 4,080 14,212,000 3,484
17/11/2023 38 5 5 3,412 11,712,000 3,432
18/11/2023 48 4 5 2,368 7,787,000 3,288
18/11/2023 48 3 5 2,368 7,787,000 3,288
18/11/2023 48 4 5 2,368 7,749,000 3,272
18/11/2023 48 3 5 2,368 7,749,000 3,272
17/11/2023 40 5 5 2,368 7,729,000 3,264
18/11/2023 42 5 5 2,368 7,659,000 3,234
18/11/2023 40 4 5 2,368 7,649,000 3,230
18/11/2023 40 3 5 2,368 7,649,000 3,230

The highest transaction is under the Sky Villa Prestige Collection, a 6-bedder. Up next is a unit under the Sky Villa Luxury Collection, which is smaller and has one less bedroom.

The rest of the properties are all 5-bedders of the same size, falling within the 7 million mark.

What led to the Watten House S$14.212M sale?

Limited supply and demand factors

The success of Watten House can be attributed to various factors. Limited supply of new private condominiums in the Shelford Road area, with only two new freehold projects in the prime district in 2023 (Watten House and Orchard Sophia), has significantly contributed to the high demand for properties in this location. 

Watten House distinguishes itself with 140 out of 180 units classified as large-format homes, each exceeding 1,500 sqft. Such properties are considered rare and have demonstrated high gains in the resale market, further enhancing the desirability of Watten House amongst homebuyers. 

Freehold properties and legacy reasons

The legacy appeal of freehold properties is a driving factor in their demand. Currently, only 34% of existing new projects across Singapore are freehold. 

Over the past two years, prices of resale and new freehold properties in the prime district have grown four times faster than their leasehold counterparts.

Location and amenities

Watten House’s strategic location near Tan Kah Kee MRT station, Nanyang Primary School, and various other schools and amenities adds to its attractiveness, making it an ideal choice for discerning buyers.

Properties in Bukit Timah for you


 

Market expectations and concerns

The take-up rate at Watten House has exceeded market expectations, defying initial concerns related to April cooling measures and higher prices for larger luxury homes.

The robust sales performance of Watten House, along with similar success stories like J’den in Jurong East, indicates ample liquidity in the market for highly attractive developments. 

District 11 property transactions

Notable peaks in transaction volume occurred in 2006 with 1,174 transactions and in 2010 with 1,850 transactions. Following 2010 and the subsequent cooling measures implemented, there was a drop in yearly transaction numbers. 

In 2014, the transaction volume reached its lowest with 244 transactions, accompanied by an average psf of S$1,597.

Fast forward to 2023, the transaction volume has rebounded to 561, accompanied by a substantial rise in the average psf rate, reaching S$2,537. This represents an approximately 51.14% increase over the last five years and a 38.31% increase over the last three years.

Project name Tenure Planning area Type of sale Floor land area (sqm) Transacted price (S$) Unit price PSF Contract date Block Unit floor Bedroom
Watten House Freehold Bukit Timah New Sale 379 14.212M 3,484 11/2023 40 5 6
Watten House Freehold Bukit Timah New Sale 317 11.712M 3,432 11/2023 38 5 5
Soleil @ Sinaran 99 years leasehold Novena Resale 457 10.8M 2,191 2/2014 2 36 4
The Arcadia 99 years leasehold Bukit Timah Resale 696 10M 1,333 8/2010 237 10 4
Soleil @ Sinaran 99 years leasehold Novena New Sale 458 9.7614M 1,980 6/2011 6 36 4
Soleil @ Sinaran 99 years leasehold Novena Resale 438 9.5M 2,015 3/2014 2 35 4
Soleil @ Sinaran 99 years leasehold Novena Resale 437 8.8M 1,867 1/2017 6 35 4

Sky@

Eleven

Freehold Toa Payoh Sub Sale 520 8.75M 1,563 12/2010 5 42 4
Trilight Freehold Novena New Sale 539 8.703M 1,500 10/2012 9 29 4

The table above showcases the top 9 transactions in District 11, with a notable observation: the second-highest transaction is another unit from Watten House, specifically from the Sky Villa Luxury Collection mentioned earlier.

Among these transactions, four are freehold properties, including Watten House. Additionally, with the exception of Watten House properties, the others are 4-bedders, possibly contributing to the higher price tag, given their prime locations. Furthermore, all these properties boast higher floors, with the lowest being the 29th floor.

Interested in setting a real estate record yourself? Connect with a premier property consultant today.


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About Sophiyanah David

Sophi, a seasoned copywriter specialising in Singaporean real estate and property, is one of the minds behind 99.co's informative articles. Like her colleagues at 99.co, Sophi is dedicated to keeping you informed about the ever-changing world of real estate so you can find your forever home. When off the clock, you can find her giggling and kicking her feet as she reads her romance novels, watching anime - if FMBA is not your fave, she might fight you (but you'll probably win) and looking up latest skincare trends.

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