5-Room HDB for Room Rent: 690 Hougang Street 61

The valuation of the HDB 5-room unit in Hougang, with a remaining lease of 59 years, has been estimated at $50,496 or $505 PSF. This valuation remains consistent with the market price, indicating a 0% difference from the baseline. Such stability in pricing suggests that the property is currently in alignment with prevailing market conditions, reflecting a neutral sentiment among buyers and sellers in the area. However, it is important to note that the model confidence for this valuation is categorized as low, primarily due to the limited data set, which is based on only one recent HDB resale transaction in the vicinity.

The Hougang area has traditionally been a sought-after location due to its accessibility and community amenities. However, the remaining lease of 59 years could influence buyer sentiment and long-term investment perspectives, particularly as the property approaches the 60-year mark, which often raises concerns regarding lease decay. As such, prospective buyers may need to weigh the implications of a diminishing lease against the current valuation, especially in a market where HDB flats with shorter remaining leases may be less attractive. In conclusion, while the property reflects stable pricing, the low model confidence and the lease duration should be critical considerations for stakeholders in the current real estate landscape.