Friday, December 6, 2013

Singapore Property News - December 2014

Spike in number of HDB flats sold below valuation - More HDB flats were sold below their valuation because of the tighter mortgage rules and latest property cooling measures targeting resale HDB market. 105 units in October 2013 were sold below their valuation which represented 7% of resale HDB volume in that month. January to June 2013 there were only 5 resale units sold below valuation each month totaling to 30 in half year.

Average COV on the other hand  fell to $12,000 from $35,000 in January 2013.

COV fell to $8,000 - Cash premiums for Housing Board flats fell for the third straight time last month to $8,000, according to Singapore Real Estate Exchange flash estimates on Thursday.   More HDB resale transactions had negative COVs, with 13.1 per cent of HDB resale deals closing below valuation in November, up from 8.5 per cent in October. Sengkang, Choa Chu Kang and Jurong West saw the most such transactions. Source : HDB COVs fall to $8,000 in Nov, lowest since July 2009; more flats sold below valuation

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