Cov For 5 Yo 4a Hdb Ard Depot, Tlk Blangah Hts, Teban

[weezersg 5]

I am looking for those newer 5-7yo 4A type around depot rd, tlk blangah hgts and teban gardens.

Recently called up to enquire both unit at tlk blangah hgts, one mid-flr val 340k asking 410k, another higher flr val 380k asking 480k. that is 70k and 100k respectively. I think is a bit on high side.

Any one bought flat recently and what COV do you have to pay?

I think the most I willing to pay is 50-60k COV providing they are very high floors and unblock view. Is this a reasonable budget in this bullish market?

[oonik grl 0]

hi there.. sorry bt can i know wat is COV ?

I tink cos the areas that u are looking at is rather hot property so the owners possibly might wan a higher price. btw, is telok blangah heights the one with full length windows ? very nice !

[applefreak 1]

COV is cash-over-value, i.e. the difference between valuation and asking price

now that the newspapers had reported on the two crazy sale of $670k and $720k, sellers are really thinking that they can do the same

normal times i'd say $50k - $60k can really get you a very nice flat with unblocked view.

but now :bangwall:

[raincole 0]

Still can, if the sellers are serious.

Lately a lot of sellers trying their luck, if can then sell attitude.

Look for those serious in selling, their asking price is usually reasonable.

[applefreak 1]

i was looking at the newspaper advertisements to get a feel of the market

a 4-rm unit at my neighbouring block (chinatown) was going for $300k 2yrs ago, now the asking price is $500k+

[Warrior88 0]

Why so high now ? ....

Can family grant ( 30 ~ 40k ) be used to pay for COV ?

Otherwise, how to afford .... ? Only people from previous SERS

and profit from previous sales can buy ....

Very scary price now .

[applefreak 1]

hahaha nowadays sellers are really aiming for the sky loh

a 3rm + utility is asking $410k

unless you really LOVE the area...

hi weezersg, i believe you will be able to find a nice unit within your budget sooner or later

it's just that you'll have to really look and look hard

the process will be long and tedious but the end result satisfying

[raincole 0]

Family grant or any HDB grant cannot be use for COV as that is CASH portion. The HDB grant is given as CPF, thus will also be subject to interest when selling flat.

[oonik grl 0]

i was looking at the newspaper advertisements to get a feel of the market

a 4-rm unit at my neighbouring block (chinatown) was going for $300k 2yrs ago, now the asking price is $500k+ :dunno:

wow ! so much ?! that is realli asking a lot eh.. bt chinatown is quite a good location wor...

i also believe that the owners are just trying their luck to get a high price. all the best in ur search weezersg !

[weezersg 5]

Yup...taking my time, no hurry coz no point over-paying.

Yeah, the 4A unit is admittedly on high flr plus partial seaview val is 380K but asking 480K.

I was looking at Bayshore Park which is a very nice condo on the east coast ard late March...a 2 bedroom unit 85sqm cost only ard 500K.

I dint buy that but got a unit at pasir panjang instead with full facilities and spacious compound and I can tell you guys....the price is below 480K.

That is why I will never pay that much for HDB.

But to be fair, price has risen sharply since then, Bayshore going for 650k-850K asking now. Maybe the tlk blangah unit worth 480K now?

You be the judge.

[hdbfan 0]

Hi all,

Good times or bad times, do u really think COV upto $100K for a HDB flat is reasonable? It sounds preposterous!

P.S. i paid COV $30K and that is becoz it is a SERS flat. Had no choice as future house is an excellent location.

Even if i can afford the cash, I would never ever pay so much!!

Hmm juz my 2 cents worth of thoughts.

[weezersg 5]

Another 100K COV unit

http://www.goviewing.com/a0763/hdb-ibrochure.asp

[waileong 0]

The more important question is, can you afford 50-100k in cash?

[crystal15 0]

Do you all think cov will go down anytime soon?

[Junkay 1]

You must have saved long and hard for that amount of money to give someone for his flat. So buying flat in tiong bahru is a good investment? HAHAAHAHA that ad in Ghim Moh is so funny... pte lift for two flats.... how pte can it be when u have to share lah... but yeah man 100k above value... sigh... I want to get 5 k above already difficult.

Edited August 21, 2007 by Junkay