Valuation check: 85 m² condo in Singapore, asking S$1,059,000

O

orla.cane

Property investor
The seller is asking S$1,059,000, and I am hesitant to spend more time on the condo when only one of my comparables is a completed transaction. The other three are listings, so they show expectations rather than proven value.

It is an approximately 85 m² 1-bed in average condition. The light and location appeal to me, while the dated finishes and possible insurance costs weaken the case. A large floor area may be valuable if the layout is efficient, but not if much of it is corridor or awkward space.

Which facts should I obtain before deciding whether the price is supportable? I am particularly interested in the completed sale’s date and micro-location, lease or tenure details, recurring management costs, parking and the practical cost of updating the unit. I would also welcome views on whether condition is better tested with several scenarios than one fixed deduction.
 
I would anchor on the completed sale, not average the four comparables. Asking prices only show seller expectations. For a first sensitivity test, I’d run the dated condition at roughly 3%, 5% and 8% below an otherwise similar unit rather than pretend there is one precise deduction.

The missing fact with the biggest potential impact is lease length or tenure.
 
Also, don’t adjust the 85 m² mechanically on a price-per-square-metre basis. A large 1-bed can include genuinely useful living space, or it can include circulation and awkward corners that buyers will not value equally. Do you know how the completed comparable differs in layout, floor level, outdoor space and exact micro-location?
 
I agree about the completed sale being more useful, but I would not automatically make it the anchor. One transaction can be unusual, and without its date and condition we cannot tell how comparable it really is.

At the asking price, this unit is about S$12,459 per m². I’d compare that figure with each property, then separately note layout efficiency, light, condition and floor level rather than burying everything in one percentage.
 
Service charges may change the conclusion more than dated finishes if they are persistently high. Finishes are visible and can be priced as a one-off cost; recurring charges keep affecting the ownership case. Parking also needs to be treated consistently: included parking, paid parking and no parking are not equivalent comparables even if the internal areas look similar.
 
Broad condition percentages are tempting because they make the comparison tidy, but I would be cautious about relying on them. A dated kitchen may be acceptable to one buyer and a full replacement cost to another.

I would calculate the condo’s value in its present state, then a second figure assuming it matched the finish of the strongest comparable. The difference should include the realistic work, disruption and contingency. If that gap is small beside the effect of service charges, parking or micro-location, those recurring or permanent differences deserve more weight than the décor.
 
Micro-location would be my first question after lease length. “Good location” is too broad for valuation: outlook, noise, access within the development and the position of the block can explain a difference that looks like a condition adjustment.

For next steps, make a one-page grid with the completed sale first, then the three listings. Include area, price per m², sale or listing date, remaining lease or tenure, floor, layout, outdoor space, parking, condition and recurring charges. Leave entries blank rather than guessing.
 
That grid should expose whether the evidence supports S$1,059,000 or merely fails to disprove it. With only one completed comparable, I’d present a range rather than a single valuation and keep the asking listings as an upper-expectation reference.

Before adjusting anything, get the missing lease details, service charges, parking arrangement and particulars of the completed sale. If those line up closely, condition can be handled with the sensitivity bands; if they do not, finding another completed transaction matters more than refining the spreadsheet.
 
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