HDB: COVs at a Record High

toa_payoh_hdb_hub_by_night_by_habib555 The Straits Times reported yesterday that the median Cash-over-valuation (COV) for HDB flats hit a new high in the fourth quarter of 2009. COVs are cash premiums that a buyer has to pay over the bank’s valuation of the flat. Why do we have to pay a COV, you might ask.

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