Saturday, April 28, 2012

HDB may stop releasing all COV data

Straits Times: Fri, Apr 27
THE Housing Board may be relooking its policy of releasing official cash-over-valuation (COV) figures of resale HDB flats, according to top executives of some property companies.

They say the board has signalled through its actions and in private conversations its intention to stop publishing these figures altogether, a move that would put the final nail in the coffin of a measure that is criticised for pushing up prices in the resale market.

In the past year, the HDB had moved to hold back several types of COV data, such as the nationwide median and the proportion of resale flats sold above valuation.

Last June, the Council for Estate Agencies began penalising agents who, in their advertisements, promise to get a specified amount of COV...
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