National Development Minister Khaw Boon Wan said home buyers are currently paying above the value assessed by professional valuers as it is "a seller's market". Mr Khaw was replying to a parliamentary query by Member of Parliament for Tampines Group Representation Constituency, Baey Yam Keng, on the increasing cash-over-valuation figures. Mr Khaw said the basis of valuation for all HDB flats are the...
HDB Valuation
Last week, a Housing and Development Board (HDB) executive flat in Queenstown was sold on the resale market for a new record price of S$1 million, the first time that the magical number was achieved for public housing. The deal broke the previous record reached only a week earlier, when a Bishan executive maisonette was sold for S$980,000. While the price tags may have raised eyebrows, it was a long time...