25 Jul '11, 2am

HDB COV data could be misleading, rising resale prices to stabilise in 3 to 5 years : Khaw

HDB COV data could be misleading, rising resale prices to stabilise in 3 to 5 years : Khaw

Mr Khaw Boon Wan meeting Mr Ridae Dahlan, 67, yesterday. The National Development Minister was going door-to-door to distribute rice and rice cookers to residents of Blocks 512 and 513, Wellington Circle, as part of a Sembawang Zone B Residents' Committee project. -- ST PHOTO: CAROLINE CHIA LIKE comparing apples and oranges. National Development Minister Khaw Boon Wan used this analogy yesterday to explain why the Housing Board has stopped releasing the figure for the overall median cash premium paid by buyers over and above the valuation of flats across all estates. He also said that while the Government is concerned about rising resale flat prices, the problem will be largely resolved in three to five years, when build-to-order (BTO) flats are ready. Referring to the overall cash-over-valuation (COV) figure, Mr Khaw said looking at it in this way was irrelevant and could...

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

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