Is going higher and higher......This morning I flipped open the ST classified - property section, there was one particular advertisement caught my attention. The advertisement stated that 3 room HDB flat, in one of the mature estate areas, is valued at S$335k. On top of that valuation, the seller is also asking for COV (Cash over valuation) of $50k, which means in other words, the unit is selling at S$385k!!!
My first reaction to that advertisement was shocked! I remember that 9 months back, when I saw a similiar advertisement, a 3 room HDB in the same estate (in fact same block as in this morning advertisment) was asking for S$333K including COV.
The reason why I could remember that advertisement so clearly is because a friend of mine used to live in that block. My friend sold their unit at approximate S$170k and that was ten years ago. Look at the asking price today, the price have gone up more than twice the amount.
Looking at present situation now, it seems like the high prices have not deter would-be house buyers. So question is, will the buying power continue to stay? Well, time will tell......
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