According to The Straits Times, one in four HDB resale flat buyers paid cash over valuation (COV) on their HDB resale flats in 2022. We’ll explain COV in greater detail later, but it means they agreed to purchase their flats above market value (as determined by HDB). And as the word “cash” implies, any amount over HDB’s valuation has to...
We’ll explain COV in greater detail later, but it means they agreed to purchase their flats above market value .Ick.
If you proceed with the purchase, your home loan will be based on $550,000 as the total amount. You’ll have to pay the $50,000 COV in cash — and that’s on top of your down payment. HDB resale prices can vary hugely among similar-sized units in the same HDB town, though. A freshly-MOP-ed unit near the MRT station can fetch way higher prices than one in the outskirts of the ‘hood.
This flat’s asking price of $660,000 is $60,000 more than the highest transacted price of $600,000. So it’s quite likely to incur cash over valuation.
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Prices for resale HDB flats rise 2.3% in Q4, slowest increase in 2022Resale transactions in the fourth quarter of 2022 fell by 12.6 per cent.
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Prices for resale HDB flats rise 2.3% in Q4, slowest increase in 2022SINGAPORE — Prices for resale Housing and Development Board (HDB) flats rose 2.3 per cent in the fourth quarter of 2022, the slowest increase in the year.
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What you need to know about HDB's Sale of Balance Flats in 2023Chances are, you already know a fair bit about HDB's Build-To-Order (BTO) and resale flats. But there's a third option available in the public housing market: Sale of Balance Flats (SBFs). In this article, we explain what these flats are and what to take note of. Sale of Balance Flats (SBF) are leftover flats from previous BTO launches, surplus Selective...
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HDB resale prices rise 2.3% in Q4, slowest increase in 2022Prices in the Housing Board resale market rose for the 11th consecutive quarter, even as price growth slowed and the number of transactions declined on the back of
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HDB resale prices rise 2.3% in Q4, slowest increase in 2022A total of 6,597 HDB resale flats changed hands in the last quarter of 2022, a decline of 12.6% from the previous quarter. Read more at straitstimes.com.
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More than half of BTO projects delayed by COVID-19 have been completed: HDBThe proportion of projects delayed beyond their estimated completion date has come down from more than 90 per cent in 2021 to about 40 per cent of ongoing projects.
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