Cash Over Valuation for public housing drop

Singapore’s cooling measures by Singapore Government are now taking effect in the property market, nowadays property buyers pay lower cash for resale Singapore public housing (HDB).

The Median of Cash Over Valuation (COV) for HDB resale flats dropped to $22,000 in November, from $25,000 in October. This was the second straight month that the median COV has declined and a sign that the cooling measures implemented in end-August are now taking effect.

However, Mr. Mah said in an interview with Channel News Asia said the full impact of the cooling measures will only be felt in the next two months.

He added that resale transactions dropped by 30 percent in Q4 this year compared with the previous quarter.

Though there is no need for any additional cooling measures for now, he said the government will implement further measures only if necessary.

*Cash-Over-Valuation (COV) is the difference between the resale price and the market value of the flat.

About The Great Oracle