Why do you think Myra is undervalued? What is the average price per square foot for a 2-bedroom in that area?

To determine if Myra is undervalued, several factors need to be considered:

Location and Amenities

Myra is located in District 13, close to the Potong Pasir MRT station and surrounding commercial spaces like the Poiz Centre. This convenient location can make it attractive for both residents and renters, potentially driving up demand and value.

Tenure and Exclusivity

Myra is a freehold project, which is often preferred by buyers who value long-term ownership and the ability to pass the property down to future generations. The boutique nature of the development, with only 85 units, adds to its exclusivity and appeal.

Pricing

While Myra is priced at around $2,000+ per square foot, which is higher than some of its 99-year leasehold neighbors, it is still relatively competitive given its freehold status and prime location. For comparison, nearby developments might have different pricing dynamics, but the freehold aspect can justify a premium.

Average PSF for 2-Bedroom Units in the Area

In the Potong Pasir area, the average price per square foot for 2-bedroom units can vary. However, for a 2-bedroom unit in a freehold development like Myra, you might expect prices to be in the range of $1,800 to $2,200 per square foot, depending on the specific unit size and layout.

Example

A typical 2-bedroom unit in Myra, which might be around 700-800 square feet, could be priced in the range of $1.26 million to $1.76 million. This pricing is competitive when considering the freehold tenure and the development's proximity to amenities and public transport.

In summary, while Myra's pricing is on the higher side, its freehold status, exclusive nature, and prime location make it a potentially undervalued option when compared to other developments in the area, especially those with 99-year leases.