View Full Version : Median cash premium for HDB resale flats falls to zero in February, lowest since 2006
For the first time in nearly a decade, the median cash-over-valuation (COV) for resale public flats hit zero-ground last month as resale and rental volumes weakened, flash estimates show.
Data from the Singapore Real Estate Exchange (SRX) showed that overall HDB COV fell from $3,000 in January to zero in February.
Overall HDB cash-over-valuation (COV) dropped from $3,000 in January 2014 to zero in Feb 2014 - the first time COV hit zero since 2006 when SRX began collecting COV records.
Twelve out of 28 HDB towns saw zero or negative median COV, according to SRX. This marks an increase from seven HDB towns in January that saw zero or negative COV.
Bukit Panjang, Punggol, Sembawang, Sengkang and Woodlands led the drop with negative overall median COVs recorded in February. Bedok, Bukit Batok, Chao Chu Kang, Geylang, Jurong West, Tampines and Yishun recorded zero overall median COV.
Almost four in 10 HDB deals closed below valuation, making up 37.3 per cent of HDB resale deals, up from 29.4 per cent in January, based on transaction records from agencies registered with SRX.
HDB resale prices also made a sharpest month-on-month fall of 1.8 per cent since prices began declining in April 2013 while resale volume dropped 20 per cent from a month ago to 734 deals.
thomastansb
06-03-14, 12:49
Great news. Singaporeans is happy to see that public housing prices is coming down. Should drop by another 20% in the next couple of years.
Coming down is good, if it doesn't come down, how to go up again? And that is why we call it cycle...
Great! best is HDB becoz ZERO and no value.! treat it like utility!
Great! best is HDB becoz ZERO and no value.! treat it like utility!
ho lei... then 1 week work 2 days enough...the other days go fishing..hope the place not too crowded..
thomastansb
06-03-14, 14:05
Public housing, make so expensive for what? Prices go up also cannot sell. Sell already stay where? 1 million dollars HDB for what f ? Public housing should be affordable and cheap.
Great! best is HDB becoz ZERO and no value.! treat it like utility!
Public housing, make so expensive for what? Prices go up also cannot sell. Sell already stay where? 1 million dollars HDB for what f ? Public housing should be affordable and cheap.
Agreed..............
ho lei... then 1 week work 2 days enough...the other days go fishing..hope the place not too crowded..
then thats the dream come true for all the Singaporean. everyone go fishing then realized how come the fishing area so crowded... prick.. * bubble burst*
:rolleyes::rolleyes::rolleyes:
Public housing, make so expensive for what? Prices go up also cannot sell. Sell already stay where? 1 million dollars HDB for what f ? Public housing should be affordable and cheap.
yes!! best not value!!!! YEAH!
yes!! best not value!!!! YEAH!
Imagine HDB is only 10k now... How good will be your life... Not more loans... No need to be scare of boss because have hundreds of thousands of loan.... Can go holiday every month.. Work only 1 week per month... That is the reason for high housing price.. If too low, then no one work.. Then all the rich people earn what?
invigorated
06-03-14, 14:31
What would happen to the section of the pc mkt that is supported by hdb upgraders? especially the EC sector?
We all can probably guess that the private market boomed also because of the robust but past hdb prices. I wonder how prices, esp OCR and ECs, will head as HDB valuation spiral down with an increase in supply.
What about those waiting for their ECs and wanting to get rid of their hdbs as their ECs TOP? This will also add on to the current crop of hdbs on sale and cause a downward pressure? Ask around any agent and they will be able to share the current unmet supply of hdbs in punggol, and maybe other areas too.
invigorated
06-03-14, 14:34
Great! best is HDB becoz ZERO and no value.! treat it like utility!
This sounds like sour grapes.. You missed the boat?
HDB becoming zero in value? Seriously? Drop yes. O, u must be :beats-me-man:?!
http://business.asiaone.com/property/news/median-cash-premium-hdb-resale-flats-falls-zero-february-lowest-2006
1.8% drop in Feb.... if it continues at the same pace...
Prices will drop 21.6% annualised!
I predict Cooling measures is going to be removed by end June if the correction continues at this pace
things might get even worse as more of the ECs TOP and EC owners have to dispose of their existing HDB within 6 months.
https://www.facebook.com/notes/theonlinecitizen/hdb-bto-prices-de-linked-from-resale-flats/10151316342333964
BTO prices will not rise with resale market: Khaw
Can you see the word Khaw say and not said.
Then resale can rise without affecting BTO price. Huat Ah.......
Question : Why delink?
In a reply in parliament in November, http://www.channelnewsasia.com/stories/singaporelocalnews/view/1237607/1/.htmlit was said that “the overall BTO prices have increased by 12 per cent since January 2009.
This is despite the 34 per cent increase in the HDB Resale Price Index (RPI) over the same period.”
So, why was this “delinking of prices” policy change not mentioned in November in the parliamentary reply?
Now is the best time to buy Resale before everyone hear what Khaw say but not said.
Now he don't have to control the valuator valuation, anyone notice it.
I would expect condo prices in these area to perform poorly as well.
Bukit Panjang, Punggol, Sembawang, Sengkang and Woodlands led the drop with negative overall median COVs recorded in February
This sounds like sour grapes.. You missed the boat?
HDB becoming zero in value? Seriously? Drop yes. O, u must be :beats-me-man:?!
Coz people kpkb may price high bay song mah. Best Bo value lor!
Me I don't need this boat. I think the people need it. but they say no need mah. So sink the BOAT loh! let it sink. If the people on board don't care why should I?
:scared-5::scared-5::scared-5:
The de-linking means any falling HDB resale prices will not affect BTO prices.
The de-linking means any falling HDB resale prices will not affect BTO prices.
Just wait and see, 7 CMs still strong. Lots of people have not hear what he say and not said.
Just wait and see, 7 CMs still strong. Lots of people have not hear what he say and not said.
HDB resale should be bouncing back latest by 2016, when the PRs re-enter the market.
HDB resale should be bouncing back latest by 2016, when the PRs re-enter the market.
Don't need to wait till 2016, there are those who are near the three yrs. One of the PR looking for rent outright tell me they are buying end of the year.
Valuation 5 Oct 2012 SGD 595,000
Valuation 28 Feb 2014 SGD 640,000
640-595=45
45/595=7.56%
http://www.condosingapore.com/forums/showthread.php?t=20681&page=2
Ever wonder why COV is lowest now.
COV is the result of control valuation by HDB, the market don't agreed with the valuation thus the COV.
Now the BTO is de link do you think HDB is still controlling the valuation.
HDB is an asset for SC, a channel for the Government to send their money to SC.
phantom_opera
06-03-14, 17:30
PAP is buying time so that HDB supply can catch up with population growth
Just look at COE price for next few months to feel the real heat
http://www.condosingapore.com/forums/showthread.php?t=20681&page=2
Ever wonder why COV is lowest now.
COV is the result of control valuation by HDB, the market don't agreed with the valuation thus the COV.
Now the BTO is de link do you think HDB is still controlling the valuation.
HDB is an asset for SC, a channel for the Government to send their money to SC.
After all the Billion dollar HDB still so cheap.
http://forums.condosingapore.com/showthread.php?t=13324
https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-ash3/t1/1896957_10152217637417040_902751500_n.jpg
Better start buying before it become too expensive. They don't do non-profit business.
Too bad PC owner out of the game.
Don't need to wait till 2016, there are those who are near the three yrs. One of the PR looking for rent outright tell me they are buying end of the year.
Valuation 5 Oct 2012 SGD 595,000
Valuation 28 Feb 2014 SGD 640,000
640-595=45
45/595=7.56%
I put SGD 595,000 in the Bank what do I get.
SGD 45,000 for 17 months.
SGD 2647 PER MONTH = 5.3% A YEAR
Hold your Horse.
5 November 2012
Property values of Housing Board (HDB) flats have gone up by up to 20 times and these increases will go on as housing developments take place.
Former Minister Mentor Lee Kuan Yew said that even though Singaporeans have been able to own a home through HDB, owners should think twice before selling their flats for a profit because prices will appreciate in value over years.
“But those who held on to their homes, I've seen their property values going up, five times, 10 times, 15 times, 20 times. This was the plan which we had from the very beginning, to give everybody a home at cost or below cost (de link BTO to resale) and as development takes place, everybody gets a lift, all boats rise as the tide rises.”
http://news.insing.com/tabloid/kuan-yew-unwise-flats-profits/id-e0633f00
Listen to the wise man.
December 7th, 2013
http://theindependent.sg/hdb-covs-drop-below-10k-heres-why-you-should-still-wait/
HDB COVs Drop Below $10k: Here’s Why You Should Still Wait
Do you agree.
Valuation 5 Oct 2012 SGD 595,000
Valuation 28 Feb 2014 SGD 640,000
640-595=45
45/595=7.56%
I put SGD 595,000 in the Bank what do I get.
SGD 45,000 for 17 months.
SGD 2647 PER MONTH = 5.3% A YEAR
Still waiting for WHAT, go and buy QUICK.
invigorated
06-03-14, 18:51
Coz people kpkb may price high bay song mah. Best Bo value lor!
Me I don't need this boat. I think the people need it. but they say no need mah. So sink the BOAT loh! let it sink. If the people on board don't care why should I?
:scared-5::scared-5::scared-5:
Ok, so u just confirmed the sour grapes part.
If it doesn't bother u, y are u making so much NOISE here? People say too high never say let it crash what, who ask u to take extremes?
if u find the boat going to fast and u ask the helmsman to slow it, does it mean u want it to sink? Anyway u are not even on the boat, so y should u be so bothered whether the boat goes fast or not unless u missed it?
Better start buying before it become too expensive. They don't do non-profit business.
https://www.youtube.com/watch?v=liOyjzKb2o0
invigorated
06-03-14, 19:05
Better start buying before it become too expensive. They don't do non-profit business.
https://www.youtube.com/watch?v=liOyjzKb2o0
Prices haven't gone down yet, only cov. Probably a couple of months before valuations go down.
Unless one isn't vested, a drop in hdb prices will prob drag everyone down just like a rise lifted the market.
granite supply situation could possibly push BTO prices higher
Ever wonder why COV is lowest now.
COV is the result of control valuation by HDB, the market don't agreed with the valuation thus the COV.
Now the BTO is de link do you think HDB is still controlling the valuation.
HDB is an asset for SC, a channel for the Government to send their money to SC.
Ok, so u just confirmed the sour grapes part.
If it doesn't bother u, y are u making so much NOISE here? People say too high never say let it crash what, who ask u to take extremes?
if u find the boat going to fast and u ask the helmsman to slow it, does it mean u want it to sink? Anyway u are not even on the boat, so y should u be so bothered whether the boat goes fast or not unless u missed it?
I help helping the inhabitant to cheer for it to sink faster mah! Aint it a utility? Suppose to be for stay only. so want what value! no need value lah. let it become ZERO!
Ho say liao!!!! ZEEE LOW ZEEE LOW ZEEE LOW!!!
Ever wonder why COV is lowest now.
COV is the result of control valuation by HDB, the market don't agreed with the valuation thus the COV.
Now the BTO is de link do you think HDB is still controlling the valuation.
HDB is an asset for SC, a channel for the Government to send their money to SC.
sent what $? people kpkb say take thier $$ ah so expensive best become ZERO. then the people will be happy mah. Roof over head only should not even have value 1. Anit what the people say right?
Better start buying before it become too expensive. They don't do non-profit business.
https://www.youtube.com/watch?v=liOyjzKb2o0
it's says building 200,000 flat and beyond another 500,000 flats lei..
it's says building 200,000 flat and beyond another 500,000 flats lei..
If your parent and in law stay in the east and you move to the New Town, ok.
If can wait for your luck and 3 years to build, ok.
If presently got place to stay, ok.
If BTO price freeze, ok.
If all ok then BTO else resale.
Since 1995, my first valuation, they control until now.
Last time the valuation got so much different that people under table.
Now when they de link BTO to resale and MSR they don't have to control the valuation, they let the market decide the value, now everyone happy.
First timer can get their HDB,
upgrader get to sell at market value don't need COV,
PR get to buy cheap resale
because lots of people still think HDB is very expensive.
Wake up, don't miss the boat again.
Aiyah let the boat sink. sink till cannot come up lah. coz HDB is UTILITY. like water where u drink and pee them away.
invigorated
07-03-14, 13:07
Public housing, make so expensive for what? Prices go up also cannot sell. Sell already stay where? 1 million dollars HDB for what f ? Public housing should be affordable and cheap.
True that it should be kept reasonable but what is defined as reasonable is ambiguous.
It is the foresight of the government to bring prices up to hedge households against inflation.
It is untrue that hdb shouldn't have values. These values have helped many middle income families upgrade to private housing and lower income families to downgrade and get some cash.
It is a win win for the government that it will be able to lock in sporeans cpf so that they will keep working.
When the balance is tipped, this is when the govt steps in. This model is actually quite successful if it is well balanced and the govt wouldn't want to rock the boat too much. Prices will have a soft landing but a crash landing is highly unlikely.
Sorry minority, u might be disappointed despite your selfish aspirations.
True that it should be kept reasonable but what is defined as reasonable is ambiguous.
It is the foresight of the government to bring prices up to hedge households against inflation.
It is untrue that hdb shouldn't have values. These values have helped many middle income families upgrade to private housing and lower income families to downgrade and get some cash.
It is a win win for the government that it will be able to lock in sporeans cpf so that they will keep working.
When the balance is tipped, this is when the govt steps in. This model is actually quite successful if it is well balanced and the govt wouldn't want to rock the boat too much. Prices will have a soft landing but a crash landing is highly unlikely.
Sorry minority, u might be disappointed despite your selfish aspirations.
selfish asperiation? I am speaking for the KPKBs out there. For me I don't care if HDB crash. If it goes up reflecting it actual value good.! but people KPKB mah say HDB is for stay only. its home no need value. last time buy $6K only. why must pay now? Should be cost!! if sell at cost then there should be no value to HDB. when the person resale also. will be COST mius the usage. be zero value.
So ZERO value HDB goot!!!! ECHO the KPKBs dream HDB NO VALUE!
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