Resale flat COV hits low reached in 2009 crisis

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Resale flat's median COV or cash over valuation used to be around 35k during good time. Now its only about 3k. while rents stay stable at 2.3k.

[Median cash-over-valuation (COV) premiums for Housing and Development Board resale units dived from $5,000 in December to $3,000 last month - similar to the previous low in June 2009 during the Global Financial Crisis - as eight out of the 28 HDB towns saw zero or negative median COV.]