Spike in number of HDB flats sold below valuation

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An honorable member of the Coffee Shop Has Just Posted the Following:

The number of Housing Board flats being sold below valuation has rocketed, as tighter mortgage rules eat into demand.

According to HDB's latest figures, 105 units were sold in October for less than their appraisal. This accounted for 7 per cent of the total resale volume, a marked increase on the average 0.3 per cent for each month of the first half of the year.

This means around four times as many flats were sold below valuation in October alone than over the whole of January to June, when there was an average of five such transactions every month.

This has forced sellers, such as assistant manager Raymond Koh, 37, to adjust expectations.


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