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Asked by Kris 26 Jul 2010

"Imbalance"in resale HDB -Minister Mah

THERE is an 'imbalance' in the HDB resale market and it may take around a year or so before prices of resale flats will stabilise.

These comments were made by National Development Minister Mah Bow Tan on Sunday, who was addressing concerns about the prices of HDB resale flats, which have been consistently rising since 2008.

Hi Gurus,

This means soon market will cool down ? with lesser COV ??

As a Buyer i have decided to wait. Thanks for your feedback.

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4 Answers

Previously Asked Questions

Ken Tan · Answer 1 · 2010-07-26T12:38:24+08:00

Ken Tan

Replied 26 Jul 2010

Hi Kris,

I certainly hope that prices of COV will stabilize as this will mean a more healthy growth in terms of turnover of units.

However, sadly speaking, Singapore is a country with space constrain. The HDB resale prices increase spell doom for many hdb buyers, especially first timers. However, it also means profit for majority of the owners.

Another point to note would be the valuation system in context. The valuation is based on comparison method. Hence, high chances that waiting will result in lower COV but a higher resale value. No doubt that less cash up front will ease cash flow for many new timers. The impact will still be felt when new home owners want to sell their flat. Note that the amount taken from CPF and mortgage loans will have to taken into account before deciding how much cash proceeds you can take back to purchase another new unit.

Regardless, HDB is meant for own stay as well as to give Singaporean a share in asset accumulation. Good luck in your search for a new unit.

Cheers,

Ken Tan
96461490
ken_tankw@yahoo.com.sg Read More

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Kris

Replied 26 Jul 2010

Thanks ken.

your answers are always very usefull.

so i assume from your feedback that HDB valuation will never come down ?

am i right ?

Thanks,
Kris

Daniel Chin · Answer 2 · 2010-07-26T13:50:29+08:00

Daniel Chin

Replied 26 Jul 2010

correction of the price. Read More

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William Koh · Answer 3 · 2010-07-26T16:34:06+08:00

William Koh

Replied 26 Jul 2010

Hi Kris,

I simply agreed with Ken.
It's either lower resale value with higher COV or higher resale value with lower COV.
In conclusion, the value of the HDB flat in Singapore will still increase.

Thanks & Regards,
William Koh
9027 1972
willkck@gmail.com
www.GuruSg.com Read More