ONE easy way to make Cash Over Valuation (COV) more transparent for all resale flat buyers and sellers is for the Housing and Development Board (HDB) to provide better statistics. Currently, the only statistic given by HDB is the median COV.
However, any student of statistics would tell you that a median value without a reported range is almost useless.
Perhaps HDB can learn from the three public universities. The universities report their entry Grade Point Average cut-off median score, the 10th percentile, and the 90th percentile. If HDB were to give these statistics as well, the public would be able to make a better decision.
For example, it makes a big difference if the median was $50,000 with a 10th percentile of $0 and a 90th percentile of $100,000 versus the same median with the 10th percentile at $40,000 and the 90th percentile at $60,000.
This data would paint a more complete picture of the COV.
Source : Today – 26 Apr 2010
Singapore Property
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