Waterbay has shown a higher percentage growth in average price compared to A Treasure Trove.

Your observation is correct: although A Treasure Trove (a private condominium) has a higher current average price per square foot than Waterbay (an executive condominium), Waterbay has achieved a higher percentage price growth over the same period. This indicates that, in terms of capital appreciation rate, Waterbay has outperformed A Treasure Trove for the period considered, even though its absolute price level remains lower. This trend is not uncommon, especially as executive condominiums approach or achieve full privatisation, making them more accessible to a broader pool of buyers and narrowing the price gap with private condos.