3 Room (3A) HDB for Sale in 102 Bukit Purmei Road

The HDB 3 Room property located in Bukit Merah, with a remaining lease of 56 years, has been appraised at an estimated value of $396,186, translating to a price per square foot (PSF) of $505. This valuation indicates a significant market signal, positioning the property at a striking 33.3% above the baseline value derived from recent comparable transactions. Such a premium valuation may reflect the desirability of the Bukit Merah locale, known for its strategic location and amenities, which frequently attract buyers despite the diminishing lease period.

However, it is essential to note that the model confidence for this valuation is categorized as low, predominantly due to the limited dataset of only four recent HDB resale transactions within the vicinity. This scarcity of comparable sales may hinder the reliability of the valuation, suggesting that potential buyers should exercise caution and conduct thorough due diligence. The dynamics of the HDB market in Singapore remain nuanced, particularly for older leases, where factors such as future leasehold implications and market sentiment can heavily influence pricing trends.