26 Jun '11, 3am

COV for HDB resale flats rises again | SingaporeScene - Yahoo! News via @yahoosg

Cash-over-valuation for resale HDB flats is on the rise again. (AFP photo) Cash premiums for resale HDB flats have risen again after a dip in the last two quarters. This reverses the trend of falling cash over valuations (COVs) -- the amount a buyer must pay over and above the valuation of a HDB resale flat -- after the government introduced measures to cool the housing market last year and early this year. The Sunday Times (ST) reported data from real estate agencies show median premiums, or COV, paid in from April to June was at about $30,000, almost 50 percent higher than the $21,ooo median COV registered for the first quarter. The COV is now close to the official record of $30,000 logged in the third quarter of 2010. The figures were obtained from three of Singapore's biggest property agencies, PropNex, ERA Asia-PAcific and the Dennis Wee Group. They account for about ...

Full article: http://sg.news.yahoo.com/blogs/singaporescene/cov-hdb-res...

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