Cash Above Valuations For Resale Flats In Singapore Rising Again.
Price of Singapore public housing is slowly inching upwards again after falling and stabilizing for the most of 2012.
Singapore (I-Newswire) September 12, 2012 - Cash above valuations for Singapore public housing resale flats is rising again. Cash above valuations (COV) is the cash premiums for HDB resale flats that buyers will pay above valuations in cash.
Recent resale flat transactions have also set jaw dropping records for cash premium. For example, a five room flat along Holland Drive was sold in August 2012 with a cash premium of $135,000. In another instance, an executive apartment in Woodlands was sold in July with a $130,000 cash premium.
Although these cases may be the exceptions to the rule, the general consensus among market experts is that flats in mature towns typically command higher cash premiums because of the scarcity of new flats due to land constraints.
Overall, many experts expect the cash premium to stay at a higher level for the rest of the year. The resistant factor to even higher premium will probably be the availability of more housing options in the Singapore property market. The Government has promised 25,000 new flats this year and at least 20,000 next year. But home buyers will have to wait three years for construction of these new flats.
With the rising cash premiums for public housing, some buyers are choosing to enter the private housing market instead. Demand for private properties has remain stable despite several rounds of cooling measures by the Government. There is still genuine demand in suburban homes and developers have been pushing out several new projects.
Investors looking at other Singapore property, are welcome to visit http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com for new launch Singapore properties. BuyRentSingapore.Com is a Singapore property listing website.
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Published On:September 12, 2012
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