What is the expected rent for a 506 sq ft 1 bedroom apartment in Novena, 7 minutes from MRT, with one aircon not working and basic furnishing including a below average sofa?

I can help you understand the rental range for a 1-bedroom apartment in Novena based on current market data.

For a 1-bedroom unit of around 506 sqft in Novena, the average rental rates across comparable properties range from approximately 3.3 to 5.1 per square foot per month. This translates to roughly 1,670 to 2,580 per month for your unit size.

However, several factors will affect the specific rental price for your property:

Factors that may reduce rental value:
- Non-functional air conditioning unit will likely decrease the asking price, as this is a standard amenity tenants expect
- Below-average furnishing and condition of furniture will reduce appeal to renters seeking move-in ready units
- General wear and maintenance issues typically warrant a discount from premium pricing

Factors supporting the rental range:
- Proximity to Novena MRT (7 minutes walk) is a strong advantage, as accessibility to public transport is highly valued
- The Novena area has good amenities including shopping malls and grocery stores nearby

Realistic pricing guidance:
Given the condition issues you've mentioned, you should expect to price your unit at the lower to mid-range of the market, approximately 3.3 to 4.0 per square foot per month, which would be around 1,670 to 2,025 per month. This accounts for the need to repair the air conditioning unit and upgrade furnishings to attract tenants, or alternatively, price it lower to reflect its current condition.

For the most competitive and accurate pricing, I recommend listing your property on EdgeProp Singapore, where you can compare similar units in your building and adjust based on specific condition and amenities.