Spike in number of HDB flats sold below valuation

[BuiKia]

The number of Housing Board flats being sold below valuation has rocketed, as tighter mortgage rules eat into demand.

According to HDB's latest figures, 105 units were sold in October for less than their appraisal. This accounted for 7 per cent of the total resale volume, a marked increase on the average 0.3 per cent for each month of the first half of the year.

This means around four times as many flats were sold below valuation in October alone than over the whole of January to June, when there was an average of five such transactions every month.

This has forced sellers, such as assistant manager Raymond Koh, 37, to adjust expectations.

 

[halsey02]

That means the people doing the valuation, should be adjusting their reports or they are under 'control'??

 

[Yingge]

Fuck the PAP!!! Fuck the opposition support!!! KNN how am I going to sell my HDB flat when my new house come???

They should start to bring in more FTs, PRs and new citizens so that I can sell my HDB flat at a better price!!!

Fuck all those gongcheeby here!!!

 

[Narong Wongwan]

7% of all resale transactions that 7 units for every 100 units transacted.
These are the ah long's painted units, the suicide units, the desperate selll off tyoe that nobody wants....good luck with those.
Trust hdb to get creative and spin this 7% positively.

 

[po2wq]

no worries ...

a whopping 93% sold above valuation! ... gahmen let fishermen make gud moni! ... mor gud ears! ... huat ah! ...

 

[The_Hypocrite]

Good news for those buying resale n especially foreigners...

 

[griffin]

Over the weekend I accompanied a friend to view a 3-rm flat in the Dover Road area. The flat was around 30 years but the valuation was $443/-. COV $10k. The flat had been done up with brown Formica pasted onto the walls of the rooms (giving a gloomy appearance) and had built in cupboards. The agent was a sweet talker who kept on repeating the area was going to boom, rentals would go up and blah blah. We just said the price was too high and walked out. That left me wondering if the valuations are deliberately jacked up to give the impression that housing is vibrant in Singapore.

 

[jw5]

Fuck the PAP!!! Fuck the opposition support!!! KNN how am I going to sell my HDB flat when my new house come???

They should start to bring in more FTs, PRs and new citizens so that I can sell my HDB flat at a better price!!!

Fuck all those gongcheeby here!!!

Fuck all those grateful gongkias.

 

[blackmondy]

COV = bribe

 

[peppertail]

Good news for those buying resale n especially foreigners...

Why especially foreigners??

 

[peppertail]

COV = bribe

How is that a bribe??

 

[Intan]

Why especially foreigners??

Cos You are One! :oIo:

 

[peppertail]

Cos You are One! :oIo:

And then?

[video=youtube;GKNX6dieVcc]http://www.youtube.com/watch?v=GKNX6dieVcc[/video]

 

[Hans168]

All artificial actions will gravitate back to fundamentals.................

 

[Hans168]

Over the weekend I accompanied a friend to view a 3-rm flat in the Dover Road area. The flat was around 30 years but the valuation was $443/-. COV $10k. The flat had been done up with brown Formica pasted onto the walls of the rooms (giving a gloomy appearance) and had built in cupboards. The agent was a sweet talker who kept on repeating the area was going to boom, rentals would go up and blah blah. We just said the price was too high and walked out. That left me wondering if the valuations are deliberately jacked up to give the impression that housing is vibrant in Singapore.

You meant $443,000?

 

[tonychat]

Who the fuck is stupid enough to buy a flat in sinkieland?

 

[peppertail]

Who the fuck is stupid enough to buy a flat in sinkieland?

Nothing stupid about making huge profits from it.

 

[winnipegjets]

A 3-room flat in Potong Pasir is rented out at $2k a month. This is ridiculous.

 

[The_Hypocrite]

As these PRs can now buy it cheaper r than before. Also locals who buy will benefit but not the sellers.

Why especially foreigners??

 

[The_Hypocrite]

Wowow. That is good news indeed for the landlords.

A 3-room flat in Potong Pasir is rented out at $2k a month. This is ridiculous.