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Flat sellers grow desperate and slash COV to zero

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Flat sellers grow desperate and slash COV to zero

Post by Darkmen on Mon Sep 02, 2013 12:55 am

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Following the major changes introduced by the Government last Tuesday in a bid to stabilise the property market here, sellers are reducing their asking cash over valuation (COV).

Some sellers are panicking, five property agents said.

Agents specialising in HDB flats said they have seen COVs plummet by up to $60,000 over the past few months and they expect the numbers to dip some more.

Property agent Raymond Eu said some sellers are so desperate for "whatever they can get" that they are even agreeing to sell their flats at zero COV.

Read the full report in The New Paper on Sept 2 (Monday).
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