Responding to media queries on the recent sale of a HDB executive maisonette at Block 190 in Bishan for an eye-popping S$1.05 million which included cash-over-valuation (COV) of S$250,000, Ismail added: “There is no reason to be alarmed because it is uncommon for people to pay such high COVs island-wide. Moreover, with the numerous measures such as the reduced MSR and TDSR framework in place, it is even rarer that a buyer can afford to pay such a high price for a HDB flat.”
Posted on: Fri, 17 Jan 2014 12:30:16 +0000
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