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Posted by on in Singapore Real Estate News
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Forget COV, Welcome to CUV

Evan Chung, Vice President DTZ shares with PropertyGuru editor, Andrew Batt
on the trend of HDB Cash-Over-Valuations becoming Cash-UNDER-Valuations.

b2ap3_thumbnail_evan-chung-dtz-property-news-hdb-cov-vs-cuv.jpg

 

Evan Chung, Vice President of the Resale Division of real estate agency DTZ, said: “CUV transactions have already been transacted and are on the increase.”

Citing recent HDB data, Chung said that 28.5 percent of HDB resale deals during January 2014 were closed below valuation.

“Areas such as Sengkang and Jurong West are now seeing about half their transactions clocking in negative COVs, and I believe the percentage of CUV transactions will continue to rise over the year and likewise, we'll see HDB valuations come down accordingly.”

Chung said that units in mature estates, and in good locations near MRT stations or a shopping mall, will still continue to see demand and command a certain COV.

“This is especially for units that are nicely renovated,” he added.

“For home buyers, the current trend is highly welcomed and I can say the cooling measures and increase in BTO supply have achieved their desired effect.”

“However, I believe the authorities will be wise enough to ease off some of the measures in the near future, otherwise the displeasure that buyers have faced over the last few years will eventually be transferred to home owners when they see their property value erode too fast and by too much,” he concluded.

 

Article featured on PropertyGuru.com.sg on 13th Feb 2014

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Evan Chung leads a branch of 100+ Real Estate Salespersons in DTZ Singapore and has grown the group from success to success. He believes strongly in equipping of skill-sets and dedicates his time to training and mentoring his group of associates.

Consistently interviewed by PropertyGuru, he shares his insights on the real estate market along with tips and strategies for real estate investments. Evan also shares more of such in this blog so whether it'd be finding out where the market is heading, or if you're keen to explore a career as a real estate agent, do spend some time browsing through the articles with a nice cup of coffee.


Cheers and best wishes!