Residential

HDB upgraders finding it harder to purchase private property With the slower resale market, coupled with decreasing cash-over-valuation (COV) figures, HDB upgraders are finding it harder to upgrade to private properties.Based on PropNex Realty’s February resale deals, median COVs for all flats other than three-room flats fell by $3,000 to $7,000. In January, the figures for all flat-types fell by $3,000 to $6,000. The median COV for all flat types is estimated to be around $25,000, compared to $35,000 in Q4 2011. The fall in COVs for all except for five-room and executive units in some towns reflects the slowing HDB resale market in 2012. HDB upgraders are less willing to sell their flats at a lower price since they need to purchase the more expensive private property. However, they need to sell the flat to get the cash for purchasing a private property. However, the decrease in ......