3-Room HDB for Room Rent: 5 Marine Terrace

The valuation of the HDB 3-room unit in Marine Parade, with a remaining lease of 47 years, stands at an estimated value of $42,417, translating to a price per square foot of $424. This valuation reflects a market price that is consistent with prevailing trends, indicating a 0% difference from the baseline. Such stability in pricing suggests a balanced market environment; however, it is essential to note the low model confidence associated with this estimate, which may indicate underlying variability in market conditions or data limitations.

The Marine Parade area is renowned for its strategic location and vibrant community, factors that typically bolster property values. Nevertheless, the relatively short remaining lease of 47 years may pose some challenges for potential buyers, as leasehold properties often experience diminishing appeal as the lease term decreases. The analysis is further supported by five recent HDB resale transactions in the vicinity, which provide a contextual framework for understanding local market dynamics. Investors and homeowners alike should consider these elements carefully when evaluating the potential for future appreciation in property value within this unique segment of the Singapore real estate market.