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Cash premiums for most types of HDB flats are falling across the country, declining between 20 and 30 percent, according to latest figures compiled by The Straits Times.
Based on last month’s transactions, the report said that median cash-over-valuations (COVs) for all flat types dropped between S$4,700 and S$8,000, with premiums for five-room and executive flats falling by as much as S$10,000 and S$17,000 respectively.
Many property agencies noted that the sudden drop in COVs across the market was mainly due to the record number of flats launched by the government and the upcoming policy changes, which are expected to limit the supply and demand of resale flats.
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Reader Comments: (4 comments)
ur rite...data not accurate..CNY less buyers
Once COV drops to negative, that's when Valuation of flats will start to drop. It actually reflects market trends. Though HDB might still have a hand in controlling the drop of prices.
so what, the overall price has not dropped, it continues to rise by 2-3%... Valuation formula of resale HDBs is flawed...
Jan CNY... where got so many busy buyers???