Valuation check: 85 m² condo in Singapore, asking S$676,700

G

gate.strong

Real estate agent
Established
The lack of completed evidence is the main constraint: I have one recorded sale to set against three current listings. The property itself is a one-bedroom Singapore condo of about 85 m², priced at S$676,700 and presented in average condition.

Its light and location are appealing, while the dated finishes and possible reserve expenditure pull the other way. I am reluctant to value all 85 m² at one rate until I know whether it includes a balcony or other outdoor space. Would you start from the completed transaction and use refurbishment costs as a range, with the listings only showing current competition? Lease or tenure details, service charges and the building’s reserve position seem likely to alter the result most. I would still seek a local appraisal before acting on the estimate.
 
I would anchor to the completed sale and use the three listings mainly to understand the seller competition. For condition, test several scenarios rather than pretending there is one precise adjustment—perhaps no discount, a moderate 5% discount and a stronger 10% discount—then replace those assumptions with actual refurbishment estimates.

The missing fact with the largest potential impact is the lease length or tenure. After that, I’d want the completed sale’s date and exact project.
 
What does the quoted 85 m² include? A balcony or other outdoor space should not automatically carry the same value per square metre as the main living area. I’d also ask whether parking is included, what the service charges are, and whether the comparable has a similar floor, outlook and amount of natural light.
 
I’m not convinced lease length is automatically the biggest unknown. In Singapore, the exact project and micro-location could make a generic citywide adjustment nearly meaningless. The asking price works out at roughly S$7,961 per m², but that figure is only useful against genuinely similar units.

For an unusually spacious 1-bed, layout efficiency matters too. Extra corridor or oversized circulation space may not command the same marginal rate as useful living space.
 
One more distinction: don’t combine dated finishes and possible reserve costs into one condition discount. Cosmetic work is specific to this unit; building expenditure affects the ownership cost and may also affect comparable units in the same development. I’d price those separately and ask for clear information about any anticipated works before changing the valuation.
 
Tariq is right that the project match comes first, but I wouldn’t push lease details too far down the list. A material difference in remaining lease can affect buyer perception and financing, although the effect depends on the property and current local practice.

I’d make a small comparison table: completed price, transaction date, project, floor, view/light, usable indoor area, outdoor space, parking, condition, lease and recurring charges. Blank cells will show whether the apparent comparable is actually doing much work.
 
With only one completed comparable, I’d report a range rather than a single valuation. First reconcile its area and included spaces with the 85 m² unit, then adjust for project and micro-location, lease, floor/view and condition—in that order. Finally, test whether the result still makes sense beside the three current listings, without treating their asking prices as achieved values. The formal appraisal can then focus on the assumptions that move the range most.
 
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