Water Villas

D19 (OCR) Freehold

Located in District 19 (Punggol, Hougang, Serangoon Gardens), Water Villas is a freehold condominium in the Outside Central Region (OCR). Completed in 2012, the development comprises 15 units. Sale and rental figures on this page are compiled from URA transaction records. Nearby developments in District 19 can be compared on ShiokNest's district analytics pages.

District 19 · Freehold · Completed 2012
~$839Avg PSF (12-month)
2.5%Rental yield
15Total units
Category Ratings
Facilities
2.5
Unit size & layout
8.0
Value for money
6.5
Neighbourhood
7.0
MRT accessibility
7.5
Lease remaining
10.0

Overview & Key Facts

WATER VILLAS is a freehold condominium at KOVAN ROAD in District 19 (OCR), developed by SILVERSTEIN PTE LTD, comprising 15 units, completed in 2012.

Developer
SILVERSTEIN PTE LTD
Tenure
Freehold
Total units
15
TOP year
2012
District
19 — OCR
Street
KOVAN ROAD

Location & Connectivity

WATER VILLAS is approximately 710m from Kovan MRT station, with 3 stations within 1.5 km.

MRT stations near WATER VILLAS
StationLineDistance
KovanNorth-East Line710m
SerangoonNorth-East Line1.1 km
SerangoonCircle Line1.1 km

Schools & Education

23 schools within 2 km (14 within 1 km priority zone).

Schools near WATER VILLAS
SchoolTypeDistance
Hillside World AcademyInternational140m
Cedar Primary SchoolPrimary460m
Cedar Girls' Secondary SchoolSecondary470m
Zhonghua Secondary SchoolSecondary470m
Zhonghua Primary SchoolPrimary480m
Xinmin Secondary SchoolSecondary570m
DPS International SchoolInternational630m
Xinmin Primary SchoolPrimary710m

Market Position

WATER VILLAS has recorded 5 sales at an average price of $3,183,600.

WATER VILLAS sits at the 5th percentile of District 19 condo PSF.
$839 psf
Avg PSF (12mo)
$3,183,600
Avg Price
2.5%
Gross Yield
5
Total Sales

Price Appreciation

PSF trend for WATER VILLAS
YearSalesAvg PSFChange
20222$761 psf—
20241$893 psf↑ 17.3%
20252$839 psf↓ 6.0%

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From the 2024 high, WATER VILLAS prices have given back 6.0% — still 10.3% above the 2022 baseline.

Price Index Check

The ShiokNest Price Index for District 19 reads 131.3 as of June 2026 — up 2.8% year-on-year. The index tracks repeat-sales price movement, so it is less distorted by shifts in what happens to be transacting than a raw average PSF.

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Neighbourhood Comparison

District 19 competitors
CondoTenureAvg PSFSales
CHUAN PARK99 yrs lease commencing from 2024$2,596 psf883
THE FLORENCE RESIDENCES99 yrs lease commencing from 2018$1,752 psf873
RIVERFRONT RESIDENCES99 yrs lease commencing from 2018$1,596 psf648
AFFINITY AT SERANGOON99 yrs lease commencing from 2018$1,699 psf604
SERANGOON GARDEN ESTATEFreehold$1,759 psf491

What Could Work Against You

  • With just 1 sale in the trailing year, pricing signals are indicative rather than definitive; expect wider bid-ask spreads when you negotiate.
  • The 15-unit size cuts both ways: exclusivity, but thinner resale liquidity and higher per-unit maintenance contributions than larger estates.

Best suited for

Best for — Families with young children Car-owning households Freehold / generational hold Boutique low-density (<100 units) Long-term hold (10+ yr) Foreign / ABSD-aware buyers Avoid if MRT-dependent Yield-focused investors

Who This Actually Suits

The profile fits families with young children, car-owning households, freehold / generational hold and boutique low-density (<100 units) best. Family-suitable layout and OCR (Outside Central Region) location with established school catchments nearby.

long-term hold (10+ yr) and foreign / absd-aware buyers should treat this as a shortlist candidate, not a default choice.

yield-focused investors should probably look elsewhere. OCR (Outside Central Region) location with rental demand profile worth running through our Rental Yield Calculator.

One caution flagged here: avoid if mrt-dependent — MRT access is meaningfully constrained — transit-dependent buyers should consider better-connected alternatives.

Verdict

WATER VILLAS is a freehold development in District 19 (OCR), with 15 units, offering a gross yield of 2.5%.

At ~$839 psf, it represents a competitive entry point in the OCR segment.

Explore the full WATER VILLAS dashboard for interactive analytics.

HDB Alternatives Nearby

Weighing WATER VILLAS against staying public? These HDB towns sit within walking or short-drive distance:

  • Hougang — 4-room average $630,510 (490m away), an upgrader gap of about $2,550,000
  • Serangoon — 4-room average $685,706 (630m away), an upgrader gap of about $2,500,000
  • Toa Payoh — 4-room average $929,793 (1.6 km away), an upgrader gap of about $2,250,000

FAQ

What is the average PSF for WATER VILLAS?
The 12-month average is approximately $839 psf.
Is WATER VILLAS freehold?
Yes, WATER VILLAS is a freehold property.
What is the rental yield for WATER VILLAS?
The estimated gross yield is 2.5%.
Which MRT is nearest to WATER VILLAS?
The nearest is Kovan MRT at 710m.

Sources & Next Steps

Methodology & Sources

This analysis covers All available years and refreshes as new data becomes available.

Transaction data sourced from URA REALIS.

  • Sales data: 5 transactions
  • Rental data: 7 leases
  • Source: URA

Median values used to minimise outlier impact. PSF = price per square foot.

Data as of September 2025

Latest recorded data point: Sep 2025 · 5 records analysed · Source: URA private-sale caveats

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