HDB construction

COV Singapore – What Is Cash Over Valuation (COV ) of a resale HDB flat

According to The Straits Times, 1 in 3 HDB resale flat buyers paid cash over valuation (COV) on their HDB resale flats in 2021. We’ll explain COV in greater detail later, but it means they agreed to purchase their flats above market value (as determined by HDB). And as the word “cash” implies, any amount…

legs sticking out of a false ceiling

Should we raise the BTO income ceiling again? 4 reasons not to.

Singapore has one of the highest homeownership rates in the world — 87.9% as of 2020 — remarkable in a city-state not known for cheap housing. Or cheap anything, really. We largely have the HDB to thank for this impressive statistic. The housing board’s heavily-subsidised BTO (Built-to-Order) flats put homes within reach of lower- to…

Successful privileged young Asian man in front of bungalow

3 harmful social consequences of parents buying property in trust

Since the property cooling measures were announced last December, some prospective homebuyers have been interested in buying properties under their kids’ names. Buying property in your child’s name is certainly one way to get around the raised ABSD (Additional Buyer Stamp Duty) rates of 17% to 30% per investment property. The rate depends on how…

Person looking at his phone with an image of a credit score graph

Refinancing soon? How to prep for interest rate hikes & check your credit score

Between all this talk of GST hikes and wealth taxes, it seems like many Singaporeans have a lot of growing costs to be concerned about. But the most pertinent cost for property owners might just be interest rate hikes, which will affect anyone with a bank mortgage. If you’re currently servicing a bank home loan,…

Property Trends 2022

Property trends Singapore 2022: 5 market trend predictions

Following a trend that began last year at the start of the Covid-19 pandemic, Singapore’s property market boomed all through 2021. According to Minister for National Development Desmond Lee, private housing prices rose by 9% since Q1 2020, while HDB resale flat prices rose by 15% in the same period. That’s a pretty strong showing…

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