Sign up | Log in



Home  >>   Daily News  >>   Singapore News  >> Property  >> HDB COV dips to lowest level in 2.5 years
NEWS UPDATES Asean Affairs   8 August 2013  

HDB COV dips to lowest level in 2.5 years

SINGAPORE: The overall cash premium, or Cash-Over-Valuation (COV), that buyers pay for HDB resale flats has dropped to its lowest level in about two and a half years, according to data from major property agencies compiled by the Singapore Real Estate Exchange (SRX)

Overall, HDB COV in July dropped S$4,000 from June to reach S$20,000 -- the lowest level since January 2011.

It is also down sharply from the peak of S$35,000 recorded in January this year.

SRX said overall COV has dropped by 43 per cent year-to-date.

This comes on the back of a 0.5-per-cent dip in overall HDB resale prices, the third consecutive monthly decline.

Christine Li, head of research & consultancy at property consultancy firm OrangeTee, said: "The drop in COV is expected.

"After the government imposed the mortgage servicing ratio on HDB loans, we do see some buyers staying away from the bigger HDB flats because their loan quantum is affected. As a result, that will affect their ability to pay high COVs."

SRX said HDB resale volume remained relatively flat in July compared to June, with about 1,270 resale transactions recorded.

Year-on-year, July's resale volume represented a 36-per-cent drop from the same period in 2012.

An estimated 1,760 HDB flats were rented in July, up by 13 per cent from June. The number also exceeded the 1,632 HDB rental transactions in July last year.

Meanwhile, resale prices of non-landed private homes rose marginally by 0.1 per cent in July, compared to the 0.8-per-cent increase in June.

This was led by the 1.2-per-cent price gain seen in the city fringes.

Resale prices of non-landed private homes in the city region fell 0.5 per cent, while those in the suburban areas slipped 0.4 per cent.

An estimated 670 non-landed private homes were transacted in July, compared to 640 units in June.

Overall, rental prices for non-landed private residential in July inched upwards by 0.2 per cent from June, reversing the decline seen in the past three months.

Rental prices in the city region gained 1.4 per cent, while rentals in the city fringes fell 0.9 per cent and suburban region declined 0.4 per cent.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories    8  August 2013 Subsribe Now !
• Eight Thai listed firms make Forbes’ top 200 Asian companies list Subcribe: Asean Affairs Global Magazine
• Airbus delivers 8,000th aircraft – an A320 for AirAsia Asean Affairs Premium
• HDB COV dips to lowest level in 2.5 years
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Lee Kuan Yew airs concern about M'sia economic zone
• Lao govt vows to address labour shortage
• Auto industry faces crossroads ahead of ASEAN trade pact
• Quang Ngai grants licences for 13 new projects
Asean Analysis            8 August 2013 Advertise Your Brand
• Asean Analysis- August 8, 2013
• Asean Weekly:The Biweekly Update 29 July 2013
Asean Stock Watch     7 August  2013
• Asean Stock Watch-August 7, 2013  

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2019 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand