COV falls further
Cash premiums or COVs for HDB flats fell three thousand dollars to a new low of 15 thousand dollars in September.
This is the lowest since July 2009 when the COV was ten thousand dollars says the Singapore Real Estate Exchange, SRX, in its third quarter flash estimates.
Despite the drop in COV, however, overall HDB resale prices stayed relatively flats with an increase of 0.2 per cent from August, after four consecutive drops in preceding months.
SRX says an estimated 1,164 HDB flats were sold in the resale market in September, slightly less than the 1,193 flats transacted in August.
This brings the resale volume of HDB flats for the quarter to 3,661 units, a 33 per cent drop from last year.
SRX says an estimated 4,459 HDB flats were leased out in the third quarter, one per cent more than the leases signed in the same quarter of the previous year.
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