by OrangeTee & Tie Pte Ltd.

1 in 3 HDB resale flat buyers paid cash over valuation this year, up from 1 in 5 in 2020

SRX HDB Resale Data

SRX HDB Resale Data

Singapore, 11 Jul 2021

SINGAPORE - Around one in three buyers of a Housing Board resale flat paid above market valuation this year, an increase from one in five last year.

The increase came against the backdrop of steadily rising prices for such flats.

The median cash over valuation (COV) paid by buyers remained at $0 each year, figures released by the Ministry of National Development (MND) as part of a written parliamentary reply last Monday (July 5) showed.

But the proportion of buyers who paid a COV increased, reflecting the current broad-based demand for housing, including in the private housing market, supported by the low interest rate environment, said MND.

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