Written answer by Ministry of National Development on reasons for rising trend of appeals to SISV to review valuations made for HDB resale flats

Nov 12, 2024

Question No: 6309

Question by: Mr Melvin Yong Yik Chye

To ask the Minister for National Development (a) whether the Ministry has studied the reasons behind the rising trend of appeals to the Singapore Institute of Surveyors and Valuers (SISV) to review the valuations made by an independent valuer for a HDB resale flat; and (b) what is the number of re-valuation appeals that the SISV has received in 2022, 2023 and 2024 to date.

Answer:

There is no rising trend of appeals. From 2022 to 2024, there was a decrease in the number of appeals to the Singapore Institute of Surveyors and Valuers to review the valuations made by independent valuers for resale HDB flats. The number of appeals decreased from 13 in 2022 to 5 in 2023, and 3 in the first ten months of 2024.