Ang Mo PR worried abt his HDB valuation in Aljunied

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[TD="class: row1, width: 150"]kaka39



Joined: 16 May 2010
Posts: 4610

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[TD="width: 100%"]Posted: Sun Sep 11, 2011 10:51 pm Post subject: Ang Mo PR worried abt his HDB valuation in Aljunied[/TD]
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http://forum.singaporeexpats.com/ftopic82111.html


sundaymorningstaple
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Joined: 11 Nov 2004
Posts: 18634

Location: Still Fishing!
Posted: Fri Sep 09, 2011 1:51 pm Post subject:

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The valuation is what the banks/HDB will base the loan amount on. The COV is basically what the market will bear. When enough people buy with the higher COV after a couple of months, they end up being revalued and the process starts over again. Unless you have a situation like we had by the end of 1998 after the '97 crash. High valuations but no buyers. In a lot of cases, people were into negative equity as they couldn't sell at valuation even. (I bought my flat at valuation 12.5 years ago following the financial meltdown - 332K) I just checked while writing my last post and the valuation today is around 420K I guessing as the last four sales in my estate for similar flats were between 420 & 475K during the last 12 months. I'm guessing my flat would value around 420/450K now. Once the LUP is finished next year I reckon it should go up another 10 or 20K as well (course a lot will depend on if we get the damned WP out of Aljunied in 5 years though).
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even FT know that PAP = $