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Hi X,

1) HDB is trying to contain the price of HDB from rising too fast.
2) Thus valuation is based on the past transactions of similar type, size, level as a guide for the possible value.
3) Thus if the selling price is way beyond the previous transactions, it is likely there will be COV.
4) We won't know exactly how much HDB is able to tolerate the price rising.
5) Just put yourself in their shoes and see how much was the past quarters' price index increase to have a rough idea what is their tolerance level.
6) HDB valuation may remain at 470k or increase/decrease a little depends on the valuer.
7) Usually valuer will be present when the selling price has a wide gap from the past transactions.
8) Based on your perception of "surrounding transaction price...", did you envelop all transactions or you did a scrutinization on it?

Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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