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Anonymous
Found a few websites that provide free valuation of HDB flats such as UrbanZoom ZoomValue, 8Prop and SRX X Value.
Has anyone use them before and how accurate are those valuations? TIA
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Tee-Ming Chew
07 Jul 2021
Co-founder at Seedly
The valuation is an good estimation but should never be treated as the accurate number. Ultimately comes down to actual negotiation between buyer and seller. But you can use that as a basis for negotiation between buying/selling.
I'm a recent HDB resale buyer and I used one of such valuation site. The final price was ~5% more than the estimated valuation. But we still went ahead with the purchase as we know that the house is highly sought-after by many buyers at that time!
With regards to HDB valuation (used to determine if there is CoV), it was pretty close to the amount though!
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Personally used SRX X Value and UrbanZoom before.
SRX X Value quite accurate - difference within 3-5K within the properties I have searched (compared to market value/actual valuation).
UrbanZoom there some time lag in reflecting the more tied to market prices.
Personally I recommend HDB resale flat transactions - google "HDB map services" - rather accurate for coming up with estimated valuation - any difference (subject to market conditions) is within 5-10K or less.