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Median Cash-Over-Valuation |
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Cash over-valuation (COV) refers to the sum of cash that needs to be paid by a buyer over and above the market vaulation of a flat. The median COV indicates that half of the units were sold for a COV above that value and half below.
An Example:
TOWN | 1-ROOM | 2-ROOM | 3-ROOM | 4-ROOM | 5-ROOM | EXECUTIVE | OVERALL | BUKIT BATOK | - | - | $5,000 | $9,000 | $16,500 | $12,000 | $6,900 | BUKIT MERAH | $20,000 | $13,000 | $15,900 | $25,000 | $40,000 | - | $22,000 |
Why it is useful?
The figures give a more accurate indication of the premium that buyers are paying for HDB flats. It disregards the high COVs paid for flats in exceptional situations. Buyers can use the this figure as a guage when buying, while sellers can use this as a reference point in deciding their selling price.
I want to know the latest Median Cash-Over-Valuation by town and flat type.
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