Valuing a 120 m² one-bedroom flat in Singapore at S$1.286m

G

gate.strong

Real estate agent
Established
I’m torn between adjusting floor area and condition separately or treating the unusual layout as one overall marketability issue. The Singapore flat is advertised at S$1,286,000, with one bedroom and approximately 120 m². It is described as a new-build in average condition, although the finishes appear dated; light and location seem to be the main strengths.

There are three asking comparables available to me, but only one completed transaction. Before applying any percentage adjustment, I need to establish whether the 120 m² is internal usable space and whether parking or outdoor areas are included. Lease length, service charges and the exact micro-location could also shift the result substantially. Which document or missing detail would you obtain first before selecting the closest comparable?
 
I would not apply a standard percentage adjustment from that evidence. The asking price is about S$10,717 per m², but a 120 m² one-bedroom may not command the same rate per square metre as a more conventionally configured unit. Start with the completed sale and adjust only for differences you can identify; use the three listings mainly to establish the current seller expectations.
 
Before condition adjustments, I’d clarify what the 120 m² includes. Is it all internal usable area, or does it include substantial outdoor or other space? Also, “new-build” and “dated finishes” seem contradictory. Is it newly completed, recently converted, or simply being marketed as new? That distinction could alter which comparables are genuinely relevant.
 
I disagree slightly with putting the completed sale automatically at the centre. One sale can mislead if its timing, floor level, outlook or exact micro-location differs. It is still better evidence than an asking price, but only after checking those differences.

Lease length would be my first missing fact. Then I’d want the exact location within the development and whether the light comes with heat, noise or privacy trade-offs.
 
Service charges deserve more attention than a simple condition discount. Dated finishes are a mostly visible, one-off issue; recurring charges affect the holding cost every year. I’d request the current charge, what it covers and whether any significant maintenance is anticipated. Without that, the apparent value of the generous floor area may be overstated.
 
Make a small comparison table: completed or asking, date, tenure or remaining lease, internal area, bedroom count, floor, outlook, condition, parking, outdoor space and service charges. Leave an adjustment blank where you lack evidence rather than forcing a number. The table should quickly show whether your single completed sale is close enough to support a figure or merely provides a broad boundary.
 
The comments confirm that I’m missing too much for a defensible adjustment range. I’ve asked for clarification on how the 120 m² was measured, the lease details, service charges, parking and any outdoor area. I’m also querying the description because “new-build” does not sit comfortably with average condition and dated finishes. Until those answers arrive, I’ll treat S$10,717 per m² only as the listing’s arithmetic, not a valuation conclusion.
 
Parking and outdoor space should be separated rather than buried in the floor-area adjustment. Their value may not move in proportion to square metres, and either could explain why a one-bedroom reaches 120 m². Also compare the layout: a large but awkward one-bedroom may have a narrower buyer pool than the headline area suggests.
 
Once the missing details arrive, I’d run at least two scenarios rather than pretend there is one precise answer. One would assume the entire 120 m² is useful internal space with manageable charges; the other would reflect less valuable outdoor or inefficient area, higher charges and refurbishment needs. Anchor both to the completed sale, then see whether the asking comparables support either result. If neither scenario approaches S$1,286,000, that gives you a clearer basis for the appraisal discussion and any offer.
 
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