Sea facing landed homes in Sembawang, named Watercove, this 80-home project is by property developer Bukit Sembawang Estates.
Located next to Sembawang Park and nestled at the end of Sembawang Road, this project will feature 22 corner terrace units, 54 intermediate terrace units, and four semi-detached units. See the Watercove floor plan by clicking on the link.
Former rubber company and now property developer, Bukit Sembawang Estates has built more than a thousand landed houses in Seletar Hills, including Luxus Hills. They have also built projects in Sembawang and Ang Mo Kio. The homes draw inspiration from Sembawang’s bungalows.
Watercove’s location takes into consideration logistics and ease. MRT stations (the Sembawang, Yishun and Canberra stations) are conveniently just a short distance away. Schools and shopping malls are also in close proximity – making the community family friendly.
Property agency CBRE, together with Edmund Tie & Co, is marketing this project. Joseph Tan, who is Residential Executive Director for CBRE says that the minimum Watercove price tag is at $ 2.28 million – a figure close to the price tags of other strata landed projects. Tan mentioned that Alana in Yio Chu Kang and Belgravia Villas at Ang Mo Kio Avenue 5 as an example. These completed projects begin at $2 million with maximum selling price at $ 3.5 million. He adds that since 2014, the prices for houses have relaxed by 11% due to the property cooling measures. In addition, the units are nor more affordable and are able to entice more buyers for the first quarter of 2017.
Added benefits for future buyers, according to Tan, is the area and design. The homes offer generous living spaces – perfect for larger households and extended families. The units also feature full suites with common areas and facilities within a gated and secure compound.
Tan foresees that further development (such as plans of developing the North Coast Innovation Corridor, as well as improved transportation infrastructure) can lead to higher property prices in the near future.
The Watercove project’s expected completion is by year 2020.