3-Room HDB for Room Rent: 3 Joo Chiat Road

The valuation of the HDB 3-room property in Geylang, with a remaining lease of 58 years, stands at an estimated value of $47,176, translating to a price per square foot (PSF) of $590. This valuation reflects a market price that is aligned with the baseline, indicating a stable demand within the locality. The absence of a price differential suggests that the property is well-positioned within the current market context, appealing to both owner-occupiers and investors alike.

However, it is important to note that the model confidence for this valuation is categorized as low, which signifies potential uncertainties in the data and external market conditions. The valuation is derived from an analysis of four recent HDB resale transactions in the vicinity, providing a foundational context for the estimated value. The dynamics of the Geylang area, characterized by its vibrant community and proximity to key amenities, continue to play a crucial role in supporting property values despite the moderately aged lease. As such, prospective buyers should carefully consider the implications of the remaining lease term on long-term investment returns and property appreciation potential.