How do you come up with this number?

To determine the valuation of a property in Singapore, such as the one at Riverbank @ Fernvale, several key factors and tools are considered:

Government Policies and Regulations

Government policies, including cooling measures and housing grants, can impact property prices by influencing demand and affordability.

Economic Growth

The overall health of the economy, including job opportunities and consumer confidence, plays a significant role in driving demand for properties.

Location and Accessibility

Properties located near MRT stations, reputable schools, shopping malls, and other amenities typically command higher prices due to their convenience and desirability.

Land Scarcity

Singapore's limited land area contributes to higher property prices, especially in areas with high demand and limited supply.

Supply and Demand

The balance between the supply of properties and the demand for them significantly affects property prices. High demand with limited supply tends to drive prices up.

EdgeProp Tools

EdgeProp uses advanced tools to calculate property valuations:

• Edge Fair Value: This methodology provides an estimated market value based on historical transactions and current market conditions.
• Historical Price and Transaction Records: These records help track how property values have changed over time.
• Property Calculators: These tools allow for a comprehensive assessment of the property's value, taking into account various factors such as location, size, and amenities.
• Amenities Check: This feature helps evaluate the property's value based on its proximity to important amenities.

By combining these factors and utilizing EdgeProp's specialized tools, a more accurate and informed valuation of the property can be determined. For example, a property like Riverbank @ Fernvale Block 17 #xx-xx would be valued based on its specific location, size (1044 sqft), and the surrounding amenities, as well as recent transaction data in the area.