Residential

Procedure for resale HDB transactions to be changed

The procedure for reporting resale Housing Development Board (HDB) transactionshas been changed to shift the focus from cash-over-valuation (COV) to market prices. Buyers now are required to get the option to purchase (OTP) before asking for a valuation from HDB who will not accept such requests from sellers. Thus, instead of focusing on the COV, buyers and sellers will negotiate resale prices based on the latest transacted prices. Buyers now also have 21, instead of 14, calendar days to exercise their obtained OTP. Daily prices of resale transaction will also be posted on HDB InfoWeb every day, instead of every fortnight, after they are registered.

(Source: Business Times)

Non-landed resale home volume remains low

Due to cooling measures and the Total Debt Servicing Ratio framework, non-landed private home resale volume remained low at a levels not seen since the 2008 global ...