3 Room (3I) HDB for Sale in 2 Jalan Bukit Merah

The HDB 3-room property located in Bukit Merah, with a remaining lease of 47 years, has been appraised at an estimated value of $331,330, translating to a price per square foot (PSF) of $489. This valuation places the property above the current market baseline by approximately 5.6%, indicating a premium positioning within the local real estate landscape. Such a premium could be attributed to the area's strategic location and community amenities, which continue to attract buyers despite the diminishing lease period.

However, it is essential to note that the model confidence for this valuation is categorized as low, suggesting a degree of uncertainty in the data analysis. The estimation is based on three recent HDB resale transactions in the vicinity, which may not fully encapsulate the broader market dynamics or the unique characteristics of this specific property. Investors and potential buyers should exercise caution and consider additional factors such as the future development plans in Bukit Merah and overall market trends that may impact property values as the remaining lease diminishes further.