Residential

Resale HDB flat COV hits zero for the first time in almost a decade

The overall median cash-over-valuation (COV) for resale HDB flats hit zero in February, the first time since 2006, as demand for resale public homes dropped. The overall median COV for January was $3,000. According to the transaction records from agencies registered with the Singapore Real Estate Exchange (SRX), 37.3 percent of HDB resale deals last month closed below valuation compared with 29.4 percent in January. HDB resale prices also fell 1.8 percent month-on-month, the hardest since April 2013. Resale volume stood at 734 deals, down 20 percent from a month ago. 12 out of 26 HDB towns had zero or negative median COV, compared with 8 HDB towns previously.

(Source: Business Times)

Property players divided on COVs for HDB resale flats

As the latest COV fell to zero from $32,000 a year ...