midwood condo showflat

Seeing as construction of BTO flats can only occur after the BTO scheme successfully achieves 65-70 % sales, eligible applicants for these types of flats normally wait years for the flats to be built before they are able to move in. Those wishing not to wait and move in immediately must participate in the SBF exercise or choose a resale flat.

HDB resale flats

Existing flats can be sold by current owners on the open market to eligible buyers for a mutually agreed upon price. The HDB does not regulate these midwood condo showflat transactions, but both seller and buyer must declare the true resale price to the Housing and Development Board. Up until March 10, 2014, prices for resale flats were established by professional valuers and topped off by the COV (Cash-over-valuation). After this date, the MND practically eliminated the COV from resale transactions.