HDB median cash premiums hit 4-year low in Aug 2013

With all cooling measures in place, overall median cash premiums for Housing Board (HDB) resale flats continued to fall , reaching a four-year low of $18,000 in August.

Picture credited to : http://180degreehealth.com/

Picture credited to : http://180degreehealth.com/

Data from Singapore Real Exchange (SRX)  showed that Punggol’s executive flats had the lowest cash-over-valuation (COV) by region. Two out of the three transactions there in August were sold below valuation, while the median COV was $13,000 below valuation. – Straits time. How long did we heard this word , BELOW VALUATION?  It seems like the interest for big units have subsided. Might be due to the TDSR and the new cooling measures announced on 27/8/2013.

Without surprise,  the highest median COVs was $120,000, transacted in  Bishan HDB executive flats.

According to Straits time , overall HDB resale prices slipped 0.7 per cent in August 2013, the fourth consecutive monthly drop. This is the first time prices have dropped for four consecutive months since January 2006.

As mentioned in my previous entry, this result comes without any surprise,  I am expecting more zero-COV transactions  and even negative-COV transactions as well in near future. Buyers out there, get your shopping list ready!

Source – Straits Time, SRX, HDB

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2 responses

  1. […] HDB median cash premiums hit 4-year low in Aug 2013 (paulngproperty.wordpress.com) […]

  2. […] HDB median cash premiums hit 4-year low in Aug 2013 (paulngproperty.wordpress.com) […]

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