How Long Have You Been Looking For A Flat?

[swataction 0]

yes i think for upgrader, the chance is slimer as priority is given to 1st timer..

i personally still feel that walk-in selection is still fairer.. if u really like the location & unit, u queue or put in your best effort to get it instead of balloting and leave it to the element of luck..

i have friends who tried umpteen times balloting but always end up with big no.. hence no chance.. while some who gotten the good no, they opted out last min depriving those who genuinely wan to buy..

[swataction 0]

some good news for those who have been shopping around for flat, bigger flats a better buy compared to smaller flats.. negative COV

Some COVs turn negative

A few flats sold under valuation

by Esther Ng 05:55 AM Apr 24, 2010SINGAPORE - Rising cash-over-valuations (COV) have been the gripe of home-hunters, but some have gotten lucky in Queenstown.

Between January and March, the median COV for executive flats there was a negative $6,000, meaning a buyer paid below valuation - a far cry from the $50,000 median COV for the same flat type in the same area, in the preceding quarter.

But the first-quarter median COV for executive flats in Toa Payoh was a staggering $63,500. This was the highest COV sum in the Housing and Development Board's list released on Friday, which broke down flat prices for the first quarter. In all three instances, HDB noted, the figures should not be taken as representative as there were fewer than 20 resale transactions in those towns for those flat types.

Indeed, overall, the median COV for the first three months of the year stabilised at $25,000 after a marginal increase of just $1,000 - compared to the fourth quarter of last year which saw the COV double.

And the HDB's resale price index rose more slowly as well, by 2.8 per cent, as the number of resale transactions slipped 5 per cent - in large part, some analysts noted, due to the huge cash-out-of-pocket sums being demanded by sellers.

Generally, resale flats in Bishan attracted the highest median COV of $32,000, followed by those in Punggol ($31,000) and Marine Parade, Central and Sengkang ($30,000).

The COV rose for three-, four- and five-room flat types in Kallang/Whampoa, where a five-room unit which previously drew a $16,600 COV now commanded $40,000. The trend was similar in Clementi.

"It could be that market is playing catch-up and that that people have bought flats in anticipation of the Circle Line," said Ngee Ann Polytechnic real estate lecturer Nicholas Mak.

In general, "COVs are still going up but at a much slower pace and they might be starting to reach a ceiling", he noted. But prices overall would continue to rise as "the valuation of resale flats will also rise".

For those short on cash, Woodlands, Pasir Ris and Geylang were their best bets, with the median COV ranging from $20,000 to $22,000.

To meet demand, HDB said it plans to launch about 12,300 new Build-To-Order (BTO) flats by September, with 1,100 to be offered next month in Yishun and Jurong West. In addition, a Punggol executive condominium site on the Government's Reserve List will be put up for tender early next month.

[otacon 1]

staying at sembawang now, just started looking for flat. we dun have much cash so waiting for HDB to push out new flats n apply as upgrader.

is the chances very slim for upgraders?

the friends u mentioned are all upgraders? i saw somewhere only abt 5% r reserved for upgraders to fight among ourselves. i just wish luck is on my side this time.

correct me if i wrong, those who applied for balloting for the new flats, will get a number no matter what right? difference is just that if numbers are big, applicants just feel no chance to get flat? so there might still be chance for me even if my number is big cos some might give up their number before they choose the flats?

[dean 5]

Fantastic! Fast hand fast leg. I like that.

You must have been firmed in yr location/budget/type of flat you want. Or, you must have been driven by desperation.

Can tell where & how much you paid?

i not desperate to find, just happen can bargain COV. open concept no more storeroom. at bt batok area. got it last yr aug 09. now price increased alot.

Edited April 26, 2010 by dean

[boatgal 0]

I started hunting for a flat in September, visit 10 flats and finally settled on one in late October 09. During our flat hunting, we missed out on a good flat, which had 40k COV.

Edited April 27, 2010 by boatgal

[ashomech 0]

I started my search on 2nd Jan'10 and viewed as much as 20 units.

Found the suitable one on 7th Feb'10.