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.
In the 16-month period, about 34,600 resale flats changed hands, said Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, citing HDB data.