It's a record-breaking cost.
Accoriding to SRX Residential Property Flash Report, in the HDB resale market, overall cash-over-valuation (COV) continues its uptrend to reach $34,000 in the first two months into 4Q.
Here's more from SRX:
This is $2,000 shy of the 5-year historical high of $36,000 COV attained in 2011Q3 since tracking began in 2007.
On a month-to-month basis, overall COV increased from $33,000 in Oct to $35,000 in Nov.
The highest COV with at least 10 contracts signed among all property types in all towns is for HDB 4-room flats in Queenstown. Median COV in the first 2 months of Q4 is $76,250.
The higher COV helped to push overall HDB median resale price to a new historical high of $455,000. This represents a 1.1% increase from 3Q's $450,000.
Overall HDB median rents remained unchanged at $2,400.
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