Since the launch of X-Value on 20 Mar 2014, more than 60,000 homes have their X-Value calculated on www.srx.com.sg and Agent Connect apps. Buyers, sellers, and real estate professionals have used it as a starting point in pricing their home.
In order to understand how closely HDB valuations track the X-Value, all SRX HDB transactions in 2014 with complete valuation data were used in a comparison study.
|Delta VOX||Proportion of all transactions|
Moving forward, National Development Minister Khaw Boon Wan made an announcement in Mar 2014 that buyers and sellers should move away from Cash-Over-Valuations (COV) in negotiating HDB prices. Instead, the emphasis should be on recent transactions. Therefore, we would expect future Valuations to fall within an even tighter range of the X-Value which is based on recent transactions.
Conclusion: X-Value is an excellent estimation of the HDB Valuation where majority of the valuations fall within a narrow band of smaller than +-3%.