Executive Maisonette in Bishan fetches $200,000 COV
Posted by temasektimes on September 8, 2012
Despite the slew of cooling measures introduced lately by the government to cool the red hot property market, the prices of resale HDB flats continue to sky-rocket, pricing many ordinary Singaporeans out of the public housing market.
A 20 year old executive maisonette at Bishan Street 13 was sold for S$980,000 including the S$200,000 COV recently.
According to property agents, there are a couple of similar deals in Bishan, one with about S$200,000 COV, the other S$250,000 COV. Both are for executive maisonettes.
COV refers to the sum of cash that needs to be paid by a buyer over and above the market valuation of a flat.
Real estate agents said the median COV paid for HDB resale flats has risen by about 12 percent to S$30,000 in the third quarter so far.