Is an 890 square feet unit worth 1.7 million dollars?

To determine if a 890 square feet property is worth $1.7 million, you need to consider the current market trends and pricing in Singapore.

Price Per Square Foot (PSF)

In 2025, the Singapore property market is expected to see moderate price growth. The average price per square foot (PSF) for new launch and resale condos can vary significantly depending on the location, amenities, and other factors.

For a property priced at $1.7 million for 890 square feet, the PSF would be approximately $1,910. Here are some general observations:

- In prime areas, prices can easily exceed $2,000 PSF, but in other areas, prices might be lower.
- According to market projections, newer units, especially in desirable locations, can command prices in the range of $2,000 to $3,000 PSF or more.
- However, the DBS Research team anticipates a moderation in property price growth in 2025, with the Singapore Property Price Index expected to increase by only 1-2%.

Location and Amenities

The value of the property also depends heavily on its location, proximity to amenities such as MRT stations, schools, and shopping centers, as well as the quality of the development.

Market Comparison

To make an informed decision, it would be helpful to compare this price with similar properties in the same area. You can check listings on EdgeProp Singapore to see what similar properties are selling for and determine if $1.7 million for 890 square feet is reasonable.

In summary, while $1.7 million for 890 square feet translates to a PSF price that is within the realm of current market prices, the specific value depends on the property's location, amenities, and how it compares to other similar properties in the area.