1 in 10 HDB resale flats sold with zero COV
One in 10 Housing Board resale flats sold with zero cash- over-valuation (COV) last month, the highest proportion of such deals since June 2009.
According to the Singapore Real Estate Exchange (SRX), 83 flats sold with no premiums, or cash incentives, to entice the seller.
Property analysts point to several factors for this.
One is that valuations for flats seem to have hit a plateau, with the HDB's resale price index dipping by 0.7 per cent in the third quarter after a bull run that began in the second quarter in 2009.