Fewer HDB resale flat buyers paid cash over valuation in 2023

​​Fewer resale flat buyers are paying above value for their units. National Development Minister Desmond Lee said the proportion of such buyers have halved, from almost 30% in 4Q2022 to 15% in the same period last year. Among those who paid cash over valuation (COV) for their flats, the median amount was about $30,000. Mr Lee said he expects this moderation to continue, amid an uncertain global economy and interest rates that will remain high for some time. Subscribe to our channel here: Subscribe to our news service for must-read stories: Telegram - WhatsApp - Follow us: CNA: CNA Lifestyle: Facebook: Instagram: Twitter: TikTok: @channelnewsasia