In the current trend, HDB flats are usually transacted at or below valuation price.
For private property, the asking price is usually more than $50K above bank valuation. A few Agents told me that bank valuation is usually too pessimistic and not being fair to the seller. However, a friend of mine recently bought a unit for $20K below valuation. He told me that valuation is usually based on comparative model, which is based on the recent transcated price.
My question: What is the fair price for private condo? At valuation, below or above?