Median cash premium for HDB resale flats falls to zero in February, lowest since 2006

[Ringo33]

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]

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.

[PulaUbin]

Coming down is good, if it doesn't come down, how to go up again? And that is why we call it cycle...

[minority]

Great! best is HDB becoz ZERO and no value.! treat it like utility!

[onglai]

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]

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!

[RCT]

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..............

[minority]

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*

[minority]

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!

[RCT]

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]

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]

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 ?!

[EBD]

http://business.asiaone.com/property...ry-lowest-2006

[CCR]

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

[2824]

things might get even worse as more of the ECs TOP and EC owners have to dispose of their existing HDB within 6 months.

[Arcachon]

https://www.facebook.com/notes/theon...51316342333964

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/stori...7607/1/.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.

[Ringo33]

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

[minority]

This sounds like sour grapes.. You missed the boat?

HDB becoming zero in value? Seriously? Drop yes. O, u must be ?!

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?

[hyenergix]

The de-linking means any falling HDB resale prices will not affect BTO prices.

[Arcachon]

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.

[hyenergix]

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.

[Arcachon]

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%

[Arcachon]

http://www.condosingapore.com/forums...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]

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

[Arcachon]

http://www.condosingapore.com/forums...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

[Arcachon]

Better start buying before it become too expensive. They don't do non-profit business.

Too bad PC owner out of the game.

[Arcachon]

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-...ts/id-e0633f00

Listen to the wise man.

[Arcachon]

December 7th, 2013

http://theindependent.sg/hdb-covs-dr...ld-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]

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?

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?

[Arcachon]

Better start buying before it become too expensive. They don't do non-profit business.

https://www.youtube.com/watch?v=liOyjzKb2o0