Recent findings released by the Singapore Real Estate Exchange (SRX) drew much attention to Cash-Over-Valuation (COV) premiums for Housing and Development Board (HDB) resale flats, with reports stating that overall COVs across all HDB property types have been experiencing a declining trend. In fact, this downward spiral has been said to be so persistent that by the start of September 2013, COVs are said to have fallen to a 4 year low.
In a country where property continues to stir public debate, it is hardly surprising that word about falling COV prices would spread into daily conversations. After all, COVs are by nature often deemed to be an unfair negotiation tactic employed by property sellers for a quick profit, causing much furore amongst those wishing to purchase their first home or to upgrade.