HDB resale's median cash-over-valuation hits 4-year low

It dropped to $8,000 in November.

According to OSK, the market for Housing and Development board resale flats continue to weaken with median COV falling to a 4-year low of $8,000 in November, from $11,444 the month before.

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This is the first time that the cash premium fell below $10,000 since July2009. COV has consistently been declining through 2013 from a peak of $35,000 in January.

Meanwhile, resale prices for non-landed private residential units are estimated to have fallen 1.5% in November from the previous month. All three regions saw prices falling, led by a 2% decline in the Core Central Region followed by a 0.9% dip for Outside Central Region and a 0.7% dip in rest of central region.