WATERVIEW
UrbanLens Analysis
WATERVIEW commands $1,480 PSF -- 9% above what District 18 typically fetches ($1,363 PSF). Tampines West MRT is 1434m away (18-min walk), functional but not a headline selling point. Against PARKTOWN RESIDENCE at $2,363 PSF, the 37% discount is worth examining closely.
Prices have surged 18.5% in two years. That is strong performance, though buyers entering now face elevated downside risk. 57 transactions over two years gives deep liquidity and reliable pricing signals. For context, MELVILLE PARK has gained 3.7% over the same period.
With ~83 years on a 99-year lease, financing and CPF remain fully unconstrained. Lease decay is a non-issue at this stage. Gross yield of 3.4% tracks the OCR average of 3.4%. At $4,055/month median rent, income is market-rate -- neither a standout nor a weakness.
At 696 units, this is a mega-development. Maintenance economies and extensive amenities are the upside; oversupply during downturns is the risk.
Nearby Comparables
| Development | Median PSF | Yield | 2Y Change |
|---|---|---|---|
| PARKTOWN RESIDENCE | $2,363 | — | 0.0% |
| AURELLE OF TAMPINES | $1,769 | — | 0.0% |
| TREASURE AT TAMPINES | $1,738 | 3.7% | +5.6% |
| THE TAPESTRY | $1,704 | 3.9% | +3.8% |
| MELVILLE PARK | $919 | 4.2% | +3.7% |
PSF Trend
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