26 Jun '11, 12am

COV for HDB resale flats are on the rise again, with median premium rising to about $30k

COV for HDB resale flats are on the rise again, with median premium rising to about $30k

On the outlook for the second quarter: 'We may see the (resale price) index showing a price increase of 2 to 4 per cent - higher than the 1.6 per cent in the first quarter. And we may see similar increases in the quarters ahead. 'The resale market trades on a mindset fixed on COVs; even though valuations have been increasing due to increasing transaction prices. Price negotiations in resale transactions centre on COV rather than the price. Something needs to be done to correct this irrational mindset.' ERA Realty key executive officer EUGENE LIM On price movements in the market: 'Based on our data, median resale prices have gone up about 2 to 5 per cent in the second quarter across various flat types. This is slightly higher than the anticipated increase... demand for resale flats is still there and median resale prices can be expected to continue at a quarterly increase o...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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The median resale price should already include the COV. Resale price is COV plus valuation. I can generally agree with you...